Duplex Professional Office
For Sale
Contact for pricing
235 East 49th Street, New York, NY 10017
Duplex professional co-op unit offers an efficient, flexible layout for Midtown office use.
Property Size1,500 SF
Price / SF$510
Days on Market97
Property Features for 235 East 49th Street
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Office
Listing Agency:
Keller Williams NYC
(212) 712-1153
Listed By:
Edward Kalisvaart · License #NY #10301210475
Source:
Crexi
Added: May 28
Changed: Aug 23
Last Checked: Aug 30 at 9:45PM
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 Keller Williams NYC
Investment Insights
Based on property information with market context.
235 East 49th Street is a co-op building offering a duplex professional office unit. The unit is configured as a two-level space designed for professional office occupancy.
The property is located at 235 East 49th Street in Midtown Manhattan, between 2nd and 3rd Avenue. This central setting places the office within an established business district.
For buyers looking for a professional office that can be organized across two levels, this duplex co-op unit provides a practical option within a Midtown building. Ownership through a co-op arrangement should be reviewed in conjunction with the building’s governing rules and the unit’s specific co-op requirements.
The property is located at 235 East 49th Street in Midtown Manhattan, between 2nd and 3rd Avenue. This central setting places the office within an established business district.
For buyers looking for a professional office that can be organized across two levels, this duplex co-op unit provides a practical option within a Midtown building. Ownership through a co-op arrangement should be reviewed in conjunction with the building’s governing rules and the unit’s specific co-op requirements.
Key Highlights
- Duplex professional co‑op unit at 235 East 49th Street, between 2nd and 3rd Avenue
- Efficient, flexible layout for Midtown office use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,969
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$939,380
$939.4K
Cap Rate 7%
$670,986
$671.0K
Cap Rate 9%
$521,878
$521.9K
Market Conditions
NOI Build-Up for 1,500 SF
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.
Gross rent
$77.2K $51.48/SF
− Vacancy
−$14.6K −$9.73/SF
EGI
$62.6K $41.75/SF
− OpEx
−$15.7K −$10.44/SF
NOI
$47.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$939,380
Cap Rate 7%
$670,986
Cap Rate 9%
$521,878
Alternative Uses
Best Use
Office B
$671.0K
$587.1K – $782.8K
NOI $46,969 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.73M
$3.27M – $4.36M
NOI $261,360 @ 7.0% cap · market cap 34.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
64,721
Businesses Nearby
Explore this area
Business Placement
Demographics for 10017, NY
17,401
Population
12,866
Households
1.4
Avg Household Size
38
Median Age
85%
College-Educated
97%
High-School Grad
0.3 sq mi
ZIP Area
58,003
Density / Sq Mi
$132,518
Median Household Income
$94,214
Median Earnings
$2,980
Median Rent
$808,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Duplex professional co-op unit offers an efficient, flexible layout for Midtown office use.
Where is this office units located?
The property is located at 235 East 49th Street New York, NY.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Duplex professional co‑op unit at 235 East 49th Street, between 2nd and 3rd Avenue; Efficient, flexible layout for Midtown office use
