Renovated Medical Condo
For Sale
$650,000
25 Central Park W 1F, New York City, NY 10023
Windowed reception, two exam rooms, central air, and dedicated laundry support medical use.
Property Size1,290 SF
Price / SF$503.88
Days on Market114
Property Features for 25 Central Park W 1F
General Information
Standard status
Active
Size
1,290 SF
Property subtype
Apartment
Additional Details
Floor
1
Asking Price
$650,000
Taxes and HOA fees
Annual Taxes
$37,212
Amenities
full-time doorman
central air conditioning
central courtyard
Building Details
Building Size
1,290 SF
Year Built
1932
Buildings
1
Construction
Art Deco
Listing Agency:
Compass
(917) 414-6921
Listed By:
Richard P Geiringer
(917) 414-6921
Source:
Nobleblackandpartners
Added: Apr 15
Changed: Aug 5
Last Checked: Aug 6 at 3:27AM
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 Compass
Investment Insights
Based on property information with market context.
This 1,290-square-foot medical office condominium is configured with a welcoming waiting area, windowed reception, a private windowed doctor’s office, and two exam rooms. Additional features include a windowed eat-in kitchen that can also function as an exam room, two half bathrooms, multiple closets, file storage, and a laundry room with shower. The suite has wood-paneled finishes, central air conditioning, and views toward the building’s landscaped central courtyard.
The office is located within The Century Condominium, a full-service Art Deco building at 25 Central Park West. Building amenities include a full-time doorman and 24-hour access. The property is near Columbus Circle, Columbus Square, and Lincoln Center. As a condominium, the purchase does not require board approval.
The office is located within The Century Condominium, a full-service Art Deco building at 25 Central Park West. Building amenities include a full-time doorman and 24-hour access. The property is near Columbus Circle, Columbus Square, and Lincoln Center. As a condominium, the purchase does not require board approval.
Key Highlights
- 1,290 SF medical office condominium
- Two exam rooms plus a windowed doctor’s office
- Windowed reception area and waiting room
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
$50,591
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
7.78%
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%
$1,011,820
$1.0M
Cap Rate 7%
$722,729
$722.7K
Cap Rate 9%
$562,122
$562.1K
Market Conditions
NOI Build-Up for 1,290 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
$81.3K $63.00/SF
− Vacancy
−$13.8K −$10.71/SF
EGI
$67.5K $52.29/SF
− OpEx
−$16.9K −$13.07/SF
NOI
$50.6K $39.22/SF
Area
ZIP 10023
Vacancy
17.00%
Lease Rate
$63.00 /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%
$1,011,820
Cap Rate 7%
$722,729
Cap Rate 9%
$562,122
Alternative Uses
Best Use
Office B
$722.7K
$632.4K – $843.2K
NOI $50,591 @ 7.0% cap · market cap 7.78%
Second Best
Healthcare Medical
$476.5K
$416.9K – $555.9K
NOI $33,353 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$917.2K
$802.6K – $1.07M
NOI $64,204 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
27,365
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10023, NY
71,164
Population
46,272
Households
1.5
Avg Household Size
42
Median Age
84%
College-Educated
98%
High-School Grad
1.0 sq mi
ZIP Area
71,164
Density / Sq Mi
$157,866
Median Household Income
$109,508
Median Earnings
$3,050
Median Rent
$1,401,800
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Windowed reception, two exam rooms, central air, and dedicated laundry support medical use.
Where is this medical office space located?
The property is located at 25 Central Park W 1F New York City, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,290 SF medical office condominium; Two exam rooms plus a windowed doctor’s office; Windowed reception area and waiting room
