Turnkey Medical Office
157 East 72nd Street New York, NY 10021
For Sale
$1,550,000
Ground floor, 1,500 SF medical office suite for sale.
Property Size1,500 SF
Price / SF$1,033
Days on Market267
Property Features for 157 East 72nd Street
General Information
- Standard status
- Active
- Size
- 1,500 SF
- Property subtype
- Residential
Building Details
- Year Built
- 1923
Listing Agency:
East Side
(212) 836-1075
Listed By:
Paul L Wexler · License #30WE0902877
(212) 836-1075
Source:
Corcoran
Added: Oct 31, 2025
Changed: Jul 6
Last Checked: Jul 24 at 9:22AM
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 East Side
Investment Insights
Based on property information with market context.
Located on the ground floor of a pre-war, full-service condominium building between Lexington and 3rd Avenue, this 1,500 SF medical office suite is available for sale. The suite features a large waiting room, an extensive reception area with file and storage space, three oversized exam rooms (one currently used as a staff kitchen), an office/consultation room, a testing area, and two restrooms. Additional features include recessed lighting, a speaker system, central air conditioning, a secondary egress/ingress, and wiring for a security system. Currently configured as a pediatric ophthalmology practice, the space is adaptable to any medical use. The property is easily accessible via Upper East Side subway lines and bus routes and is in close proximity to several top medical facilities in New York, including Lenox Hill Hospital, Memorial Sloan Kettering Cancer Center, The Manhattan Eye, Ear, Nose and Throat Hospital, The Hospital for Special Surgery, Mount Sinai Medical Center, NY Presbyterian /Weill Cornell Hospitals, and Rockefeller University Hospital. Monthly expenses total $2,054.63, including common charges of $1,680.49, assessments of $349.14, and a storage room fee of $25.
Key Highlights
- Turnkey medical office suite in a pre‑war, full‑service condominium building.
- Prime location on the ground floor between Lexington and 3rd Avenue.
- Adaptable 1,500 SF layout with a large waiting room, reception area, three oversized exam rooms, office/consultation room, testing area, and two restrooms.
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 | $77.2k | $51.48 |
| − Vacancy | −$14.6k | −$9.73 |
| EGI | $62.6k | $41.75 |
| − OpEx | −$15.7k | −$10.44 |
| NOI | $47.0k | $31.31 |
1,500 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$671.0K
$587.1K – $782.8K
NOI $46,969 @ 7.0% cap · market cap 3.03%
Second Best
Healthcare Medical
$638.7K
$558.9K – $745.2K
NOI $44,712 @ 7.0% cap · market cap 2.88%
Theoretical Best
Specialty Retail
$3.73M
$3.27M – $4.36M
NOI $261,360 @ 7.0% cap · market cap 16.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
R & R Mental ...
Crisis Center
Keenan Ellicott
Real Estate Agency
Frederick Friedman, Jr., ...
Physician
157 East 72 ...
Condominium Complex
Drabkin Naomi F ...
Counselor
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FAQs
What type of property is this?
Medical Office Space - Ground floor, 1,500 SF medical office suite for sale.
Where is this medical office space located?
The property is located at 157 East 72nd Street New York, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Turnkey medical office suite in a pre‑war, full‑service condominium building.; Prime location on the ground floor between Lexington and 3rd Avenue.; Adaptable 1,500 SF layout with a **large waiting room, reception area, three oversized exam rooms, office/consultation room, testing area, and two restrooms.**
