Medical Office Condo with Operating
For Sale
Contact for pricing
161 Madison Ave, New York, NY 10016
Configured medical suite with exam rooms, consult offices, reception, pre-op space, and dedicated storage.
Property Size2,400 SF
Price / SF$1,031
Days on Market99
Property Features for 161 Madison Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
OFFICE
Site & Location
Neighborhood
Midtown Manhattan
Public Transit
Yes
Additional Details
Floor
11
Listing Agency:
The Corcoran Group | East Side
(800) 544-4055
Listed By:
Paul L Wexler · License #NY 30WE0902877
(212) 836-1075
Source:
Moodyscre
Added: Jul 28
Changed: Oct 26
Last Checked: Nov 1 at 5:01AM
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 The Corcoran Group | East Side
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Investment Insights
Based on property information with market context.
Suite 11W at 161 Madison Avenue is a medical office condo configured for an ENT and surgical practice. The approximately 2,400-square-foot layout includes a waiting and reception area, five exam rooms, four offices or consult rooms, an operating room with attached pre-op space, one restroom, and five closets or storage spaces.
The property is positioned in Midtown between East 32nd Street and East 33rd Street, with proximity to NYU Langone, Hassenfeld Children’s Hospital, and NYC Health + Hospitals/Bellevue. Public transportation access includes the 4 and 6 train lines, multiple bus routes at Madison Avenue and 32nd and 33rd Streets, and additional subway lines at 34th Street.
The property is positioned in Midtown between East 32nd Street and East 33rd Street, with proximity to NYU Langone, Hassenfeld Children’s Hospital, and NYC Health + Hospitals/Bellevue. Public transportation access includes the 4 and 6 train lines, multiple bus routes at Madison Avenue and 32nd and 33rd Streets, and additional subway lines at 34th Street.
Key Highlights
- Approximately 2,400 square feet configured for an ENT and surgical practice
- Five exam rooms and four offices or consult rooms
- Operating room with attached pre‑op space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,151
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,503,020
$1.5M
Cap Rate 7%
$1,073,586
$1.1M
Cap Rate 9%
$835,011
$835.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$123.6K $51.48/SF
− Vacancy
−$23.4K −$9.73/SF
EGI
$100.2K $41.75/SF
− OpEx
−$25.1K −$10.44/SF
NOI
$75.2K $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%
$1,503,020
Cap Rate 7%
$1,073,586
Cap Rate 9%
$835,011
Alternative Uses
Best Use
Office B
$1.07M
$939.4K – $1.25M
NOI $75,151 @ 7.0% cap · market cap 3.04%
Second Best
Healthcare Medical
$1.02M
$894.2K – $1.19M
NOI $71,539 @ 7.0% cap · market cap 2.89%
Theoretical Best
Specialty Retail
$5.97M
$5.23M – $6.97M
NOI $418,176 @ 7.0% cap · market cap 16.90%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
87,988
Businesses Nearby
Balanced
Demand for This Use
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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 Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured medical suite with exam rooms, consult offices, reception, pre-op space, and dedicated storage.
Where is this medical office space located?
The property is located at 161 Madison Ave New York, NY.
What is the asking price?
The asking price for this property is $2,475,000.
What are key features of this property?
This property features: Approximately 2,400 square feet configured for an ENT and surgical practice; Five exam rooms and four offices or consult rooms; Operating room with attached pre‑op space
