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    Midtown East Office Condos Title is generated by Realmo AI

    210 E 47th St 1A, New York, NY 10017

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    For Sale
    $3,500,000

    Two adjacent office condos in Midtown East available for purchase.

    Type:Residential
    Property size:
    1,700 SF
    Price / SF:
    $2,058/SF
    Added:
    Mar 24, 2026
    Days on Market:
    47
    Last Refresh:
    Mar 10 at 4:17 pm

    Property Features for 210 E 47th St 1A

    General Information

    Standard status
    Active
    Size
    1,700 SF
    Property subtype
    Residential

    We can help!

    Listing Contact
    Todd Weinberg
    Todd Weinberg

    Listing agent Todd Weinberg License #30WE0558045

    Listing office

    Listing date Mar 24, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Todd Weinberg

    HighLights

    • Prime Midtown East location with easy access to Grand Central Terminal and FDR Drive.
    • Two adjacent units (1A & 1B) totaling 3,400 sq. ft. that can be easily combined.
    • Low monthly carrying charges for both units.
    • Unit 1A generates over $115,000 in annual net income with a lease expiring July 1, 2027.
    • Unit 1B is equipped as a medical office with multiple exam rooms, consultation room, and waiting area, suitable for various medical or professional uses.
    • Unit 1B features a lobby entrance with 24/7 doorman service.

    Overview

    Two adjacent office condos, Unit 1B and Unit 1A, are available for purchase as an investment or for owner occupancy. Located at 210 East 47th Street in New York City, in the heart of Midtown East, the property offers convenient access to Grand Central Terminal and the FDR Drive. The units, situated in a residential condominium building, total 3,400 square feet and feature low carrying charges. Unit 1A and Unit 1B can be easily combined. Unit 1B, totaling 1,700 square feet, is suitable for various office types and has a lobby entrance with 24/7 doorman service. Currently operating as a dermatology medical office, Unit 1B includes three exam rooms with sinks, a consultation room, a large nurses/secretary room with a sink, a gas outlet, a large waiting room with seating for eight, one full bath, and one half bath, along with central air conditioning covering 1,200 square feet. The lower level (520 square feet) features a shower bath, kitchenette, a new window, and a new air conditioner. Unit 1B is suitable for a telemedicine center, medical infusion center, physical/speech therapy, dental office, accounting, legal, or real estate offices. Sublets are permissible. Unit 1A has similar square footage with an unfinished lower level. The current tenant's lease expires on July 1, 2027, with an annual net income exceeding $115,000. Unit 1A has monthly common charges of $746.40 and annual real estate taxes of $4,347.79 ($362.32 per month). Unit 1B has monthly common charges of $857.92 and annual real estate taxes of $4972.13 ($414.34 per month).
    Location Intelligence

    Current Use by Public Records

    Dr. Michel F. ... Ophthalmologist Diplomat Condominium Condominium Complex Frederick Stange, DDS ... Dental Office Moulin Louise N ... Physician Psychic Phone Readings ... Spiritual Center

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Midtown Animal Hospital — 256 E 33rd St #1, New York, NY 10016
    • Murray Hill Pet Hospital — 47 E 30th St, New York, NY 10016
    • AcupunctureForYourDog — 201 E 33rd St, New York, NY 10016
    • Biscuits & Bath - Murray Hill — 487 3rd Ave, New York, NY 10016
    • Bond Vet - Kips Bay — 447 3rd Ave, Manhattan, NY 10016

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9715695
    Latitude
    40.7535733

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    FAQs

    What type of property is this?
    Medical Office Space - Two adjacent office condos in Midtown East available for purchase.
    Where is this medical office space located?
    The property is located at 210 E 47th St 1A New York, NY.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Prime Midtown East location with easy access to Grand Central Terminal and FDR Drive.; Two adjacent units (1A & 1B) totaling 3,400 sq. ft. that can be easily combined.; Low monthly carrying charges for both units.
    (212) 692-6185
    We can help!
    Listing Contact
    Todd Weinberg
    Todd Weinberg
    Real Estate License ID: 30WE0558045
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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