Upper East Side Office
184 East 70th St, New York, NY 10021
For Sale
Contact for pricing
2,500 SF office condo in Manhattan's medical corridor.
Property Size2,500 SF
Price / SF$900
Days on Market265
Property Features for 184 East 70th St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Listing Agency:
Kalbo Real Estate
Listed By:
Mike Kalbo · License NY 31KA0926651
Source:
Crexi
Added: Feb 23
Changed: Nov 8
Last Checked: Nov 12 at 7:09AM
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 Kalbo Real Estate
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Investment Insights
Based on property information with market context.
Located on East 70th Street between Lexington Avenue and Third Avenue in Lenox Hill, this approximately 2,500 SF office condo is situated in the heart of Manhattan’s premier medical corridor. The property is near Lenox Hill Hospital, Weill Cornell Medicine, Hospital for Special Surgery, and Memorial Sloan Kettering Cancer Center. Configured into 17 rooms, it includes 3 bathrooms, a reception area, and a waiting room. Previously occupied by NYU Langone, the space is flexible and suitable for medical, wellness, professional services, or general office use. The property features a separate office entrance from the residential tenants and a dedicated elevator serving the office component. The real estate taxes are $15,250 per year, and the common charges are $5,351 per month. It is ideal for owner-users and investors.
Key Highlights
- Prime Upper East Side location in Manhattan's premier medical corridor, near major hospitals
- Approximately 2,500 SF configured with 17 rooms and 3 bathrooms
- Separate office entrance and dedicated elevator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,282
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,565,640
$1.6M
Cap Rate 7%
$1,118,314
$1.1M
Cap Rate 9%
$869,800
$869.8K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$128.7K $51.48/SF
− Vacancy
−$24.3K −$9.73/SF
EGI
$104.4K $41.75/SF
− OpEx
−$26.1K −$10.44/SF
NOI
$78.3K $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%
$1,565,640
Cap Rate 7%
$1,118,314
Cap Rate 9%
$869,800
Alternative Uses
Best Use
Office B
$1.12M
$978.5K – $1.30M
NOI $78,282 @ 7.0% cap · market cap 3.48%
Second Best
Healthcare Medical
$1.06M
$931.5K – $1.24M
NOI $74,520 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,346 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
31,051
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 10021, NY
45,691
Population
29,248
Households
1.6
Avg Household Size
41
Median Age
81%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
114,228
Density / Sq Mi
$156,712
Median Household Income
$99,886
Median Earnings
$3,002
Median Rent
$1,529,600
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in New York, NY
Properties on Market for Medical Office Space in New York
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
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- Biscuits & Bath - Sutton Place — 1064 1st Ave., New York, NY 10022
- Vanessa Biegen — 510 E 62nd St, New York, NY 100658314
- Kristina Willoughby — 510 E 62nd St, New York, NY 100658314
Frequently Asked Questions
What type of property is this?
Medical Office Space - 2,500 SF office condo in Manhattan's medical corridor.
Where is this medical office space located?
The property is located at 184 East 70th St New York, NY.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Prime Upper East Side location in Manhattan's premier medical corridor, near major hospitals; Approximately 2,500 SF configured with 17 rooms and 3 bathrooms; Separate office entrance and dedicated elevator
