Fully Leased Professional Office
For Sale
Contact for pricing
162 W 56th St, New York, NY 10019
Commercial condominium unit near Carnegie Hall, 100% leased.
Property Size27,458 SF
Price / SF$309.56
Days on Market1131
Property Features for 162 W 56th St
General Information
Standard status
Active
Size
27,458 SF
Class
B
Property subtype
Office
Occupancy
100%
Lease Type
Modified Gross
Net Operating Income
$578,000
Building Details
Year Built
1926
Units
28
Tenancy
Multi
Listing Agency:
Loria Real Estate
(212) 989-4452
Listed By:
Caravaggio Loria · License #NY 10351211218
Source:
Crexi
Added: Jul 21, 2023
Changed: Aug 10
Last Checked: Aug 24 at 6:52AM
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
Investment Insights
Based on property information with market context.
This commercial condominium unit is located in a mixed-use building comprised of 28 professional suites and offices. The property, Carnegie Plaza Condominium, is situated in an 18-story corner building at 7th Avenue and 56th Street, directly across from Carnegie Hall. The commercial unit encompasses the entire 2nd through 5th floors, totaling 27,450 rentable square feet, and includes a dedicated commercial lobby. Each of the four floors contains seven office units featuring various floor plans and sizes. Every unit has a private bathroom, making them suitable for professional users such as medical offices and salons. Many street-facing offices offer views of 7th Avenue, Central Park, and Carnegie Hall. The property includes a modernized elevator servicing the offices exclusively, along with its own dedicated attended lobby. The office lobby is connected to the residential lobby, which also features a 24/7 doorman. The unit will be delivered with tenants in place. The property is one block from the NRQW and F train, and minutes from Times Square, Central Park, and Columbus Circle. The building is 100% leased, with short lease terms. Projected market rents for similar units are 22% higher.
Key Highlights
- 100% leased building with short lease terms, offering immediate income and flexibility.
- Potential for a 55% increase in Net Operating Income (NOI) due to projected market rents being 22% higher.
- Prime location directly across from Carnegie Hall and close to multiple subway lines (NRQW, F).
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Commercial condominium unit near Carnegie Hall, 100% leased.
Where is this office units 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 $8,500,000.
What are key features of this property?
This property features: 100% leased building with short lease terms, offering immediate income and flexibility.; Potential for a 55% increase in Net Operating Income (NOI) due to projected market rents being 22% higher.; Prime location directly across from Carnegie Hall and close to multiple subway lines (NRQW, F).
