Multi-Story Office
For Sale
Contact for pricing
162 W 56th St, New York, NY 10019
Entire 2nd through 5th floors offer 27,450 RSF with dedicated commercial lobby and private bathrooms in each unit.
Property Size27,450 SF
Price / SF$364.30
Days on Market681
Property Features for 162 W 56th St
General Information
Standard status
Active
Size
27,450 SF
Property subtype
OFFICE
Site & Location
Neighborhood
Midtown Manhattan
Additional Details
Business Included
No
Office Units
28
Amenities
private bathroom
dedicated commercial lobby
modernized elevator
dedicated attended lobby
24/7 doorman
Building Details
Stories
18
Tenancy
Multi
Listing Agency:
Loria Real Estate
(212) 989-4452
Listed By:
Caravaggio Loria · License #NY 10351211218
(917) 386-3245
Source:
Moodyscre
Added: Dec 19, 2024
Changed: Oct 26
Last Checked: Oct 30 at 6:20PM
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 Loria Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Carnegie Plaza Condominium presents an entire multi-floor commercial office suite comprising floors 2 through 5. The space totals 27,450 rentable square feet and includes a dedicated commercial lobby. Across the four floors, there are seven office units per floor, with various floor plans and unit sizes. Each office unit includes a private bathroom.
The building is an 18-story corner property at 7th Avenue and 56th Street, positioned directly across from Carnegie Hall. The commercial space is described as being approximately one block from both the NRQW and F train, and is within minutes of landmarks including Times Square, Central Park, and Columbus Circle.
Building amenities supporting exclusive office access include a modernized elevator servicing the offices. The commercial office lobby is connected to the residential lobby, which has a 24/7 doorman, and the property also features an own dedicated attended lobby. The unit is being delivered with tenants in place.
The building is an 18-story corner property at 7th Avenue and 56th Street, positioned directly across from Carnegie Hall. The commercial space is described as being approximately one block from both the NRQW and F train, and is within minutes of landmarks including Times Square, Central Park, and Columbus Circle.
Building amenities supporting exclusive office access include a modernized elevator servicing the offices. The commercial office lobby is connected to the residential lobby, which has a 24/7 doorman, and the property also features an own dedicated attended lobby. The unit is being delivered with tenants in place.
Key Highlights
- Entire 2nd–5th floors for a commercial unit with 27,450 RSF plus a dedicated commercial lobby
- 18‑story corner building at 7th Avenue and 56th Street with a modernized elevator servicing the offices exclusively
- Four office floors with 7 office units per floor (28 total) and private bathrooms in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$859,534
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,190,680
$17.2M
Cap Rate 7%
$12,279,057
$12.3M
Cap Rate 9%
$9,550,378
$9.6M
Market Conditions
NOI Build-Up for 27,450 SF
Gross rent
$1.41M $51.48/SF
− Vacancy
−$267.1K −$9.73/SF
EGI
$1.15M $41.75/SF
− OpEx
−$286.5K −$10.44/SF
NOI
$859.5K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,190,680
Cap Rate 7%
$12,279,057
Cap Rate 9%
$9,550,378
Alternative Uses
Best Use
Office B
$12.28M
$10.74M – $14.33M
NOI $859,534 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$68.33M
$59.79M – $79.71M
NOI $4,782,888 @ 7.0% cap · market cap 47.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
28
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
49,382
Businesses Nearby
Explore this area
Business Placement
Demographics for 10019, NY
49,029
Population
33,279
Households
1.5
Avg Household Size
38
Median Age
78%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
70,041
Density / Sq Mi
$121,835
Median Household Income
$108,231
Median Earnings
$2,619
Median Rent
$1,066,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Entire 2nd through 5th floors offer 27,450 RSF with dedicated commercial lobby and private bathrooms in each unit.
Where is this office unit located?
The property is located at 162 W 56th St New York, NY.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: Entire 2nd–5th floors for a commercial unit with 27,450 RSF plus a dedicated commercial lobby; 18‑story corner building at 7th Avenue and 56th Street with a modernized elevator servicing the offices exclusively; Four office floors with 7 office units per floor (28 total) and private bathrooms in every unit
