Mixed-Use Building with Office
For Sale
$4,999,950
113 E 39th Street New York, Manhattan, NY 10016
Upper floors contain apartments, while the first floor is configured for office use.
Property Size6,005 SF
Price / SF$832.63
Days on Market787
Property Features for 113 E 39th Street New York
General Information
Standard status
Active
Size
6,005 SF
Property subtype
Commercial
Zoning
R8B
Units
Unit Mix
1 x floor-through apartment, 4 x two-bedroom apartment, 1 x studio
Multifamily Units
6
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Building Details
Building Size
6,005 SF
Year Built
1900
Buildings
1
Stories
5
Units
8
Listing Agency:
RE/MAX In The City
(929) 222-4200
Listed By:
Chintan Trivedi · License #996433
(917) 637-0161
Source:
Croninreale
Added: Aug 29, 2024
Changed: Oct 23
Last Checked: Oct 23 at 5:55PM
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
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Investment Insights
Based on property information with market context.
Built in 1900, this five-story mixed-use building combines first-floor office space with apartments on the upper levels and a full basement. The apartment layout includes a floor-through unit on the second floor, two two-bedroom apartments on the third, one two-bedroom apartment on the fourth, and a studio plus a two-bedroom apartment on the fifth. Two tenants are rent stabilized.
The property is on E 39th Street in Manhattan, two blocks from Grand Central Terminal, and is zoned R8B. Possible occupancy arrangements include a triple-net lease, continued owner rental of the lower two floors with a buyer taking over the apartments above, or delivery vacant except for the two rent-stabilized tenants.
The property is on E 39th Street in Manhattan, two blocks from Grand Central Terminal, and is zoned R8B. Possible occupancy arrangements include a triple-net lease, continued owner rental of the lower two floors with a buyer taking over the apartments above, or delivery vacant except for the two rent-stabilized tenants.
Key Highlights
- First‑floor office space with apartments on floors two through five
- Full basement
- Six apartments: three two‑bedroom units on floors three and four, plus a floor‑through apartment, studio, and two‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$191,409
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,828,180
$3.8M
Cap Rate 7%
$2,734,414
$2.7M
Cap Rate 9%
$2,126,767
$2.1M
Market Conditions
NOI Build-Up for 6,005 SF
Gross rent
$360.3K $60.00/SF
− Vacancy
−$54.0K −$9.00/SF
EGI
$306.3K $51.00/SF
− OpEx
−$114.8K −$19.13/SF
NOI
$191.4K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,828,180
Cap Rate 7%
$2,734,414
Cap Rate 9%
$2,126,767
Alternative Uses
Best Use
Mixed Use
$2.73M
$2.39M – $3.19M
NOI $191,409 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$2.68M
$2.35M – $3.13M
NOI $187,880 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$14.95M
$13.08M – $17.44M
NOI $1,046,311 @ 7.0% cap · market cap 20.93%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
79,335
Businesses Nearby
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Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Upper floors contain apartments, while the first floor is configured for office use.
Where is this mixed-use property located?
The property is located at 113 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: First‑floor office space with apartments on floors two through five; Full basement; Six apartments: three two‑bedroom units on floors three and four, plus a floor‑through apartment, studio, and two‑bedroom unit
