115 E 39th Street New York Manhattan, NY 10016
115 E 39th Street New York, Manhattan, NY, 10016
$4,999,950
For Sale
$4,999,950
Apartment buildings
Property Size6,254 SF
Price / SF$799.48
Days on Market693
Property Features for 115 E 39th Street New York
General Information
- Standard status
- Active
- Size
- 6,254 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing agency
RE/MAX In The City
(917) 637-0161
Listed by
Chintan Trivedi · License #10311203986
(917) 637-0161
Source
Cohenandcohenrealty
Added: Aug 29, 2024 Updated: Jul 21 at 2:55PM Checked: Jul 21 at 2:55PM
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 RE/MAX In The City
Investment Insights
Based on property information with market context.
Key Highlights
- Built in 1910 multi‑family building near Grand Central Terminal, about two blocks away
- Original building square footage of 6,254 plus PH (penthouse) apartment
- 1st floor includes office and medical space; 2nd floor medical office space
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $322.0k | $51.48 |
| − Vacancy | −$60.8k | −$9.73 |
| EGI | $261.1k | $41.75 |
| − OpEx | −$65.3k | −$10.44 |
| NOI | $195.8k | $31.31 |
6,254 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.80M
$2.45M – $3.26M
NOI $195,830 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$2.80M
$2.45M – $3.26M
NOI $195,671 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$15.57M
$13.62M – $18.16M
NOI $1,089,697 @ 7.0% cap · market cap 21.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Catscape Productions
Film Production
Kettle Media Concepts, ...
Film Production
iWoman
Media Distribution
Similar For Sale Nearby
FAQs
Where is this apartment building located?
The property is located at 115 E 39th Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $4,999,950.
What are key features of this property?
This property features: Built in 1910 multi‑family building near Grand Central Terminal, about two blocks away; Original building square footage of 6,254 plus PH (penthouse) apartment; 1st floor includes office and medical space; 2nd floor medical office space
