Gramercy Park Office
316 East 22Nd Street New York, NY 10010
316 East 22Nd Street, New York, NY, 10010
$1,790,000
For Sale
$1,790,000
Full-floor commercial condo in prime Manhattan location.
Property Size3,102 SF
Price / SF$577.05
Days on Market141
Property Features for 316 East 22Nd Street
General Information
- Standard status
- Active
- Size
- 3,102 SF
- Property subtype
- Residential
Building Details
- Year Built
- 2000
Listing agency
Park Avenue South
(646) 872-9700
Listed by
Brian Morgan · License #10301202091
(646) 872-9700
Source
Corcoran
Added: Mar 3 Updated: Jul 10 at 3:47PM Checked: Jul 22 at 7:13AM
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 Park Avenue South
Investment Insights
Based on property information with market context.
Located in the heart of Gramercy Park, this full-floor commercial condominium at 316 East 22nd Street - Unit COMM1, offers a rare opportunity. The 3,102 square foot office unit occupies the first floor and cellar of a pre-war elevator building, originally constructed in 1910 and converted to condominium in 2009. The interior layout includes multiple private offices and consultation rooms, open workspaces, a reception area, a half bathroom, a private interior stairwell connecting both levels, mechanical and meter rooms, and accessory storage areas. Rear-facing windows provide natural light and ventilation. Features include hardwood floors, exposed brick, 9' ceilings, sheetrock ceilings with mounted lighting, a dedicated HVAC system, 110/220V electrical service, and a sprinkler system in the cellar. The 7-story mixed-use building is situated on a tree-lined block between First and Second Avenues. Transportation options include the 6 train, M23/M15/M101 buses, and the FDR Drive. The surrounding area features parks, restaurants, cafes, and retail. It is located close to major medical centers and the Midtown business district. The unit is suitable for medical, professional, or creative office use.
Key Highlights
- Prime Gramercy Park location in a prestigious and charming neighborhood.
- Spacious 3,102 square foot full‑floor commercial condominium.
- Ideal for medical, professional, or creative office use.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $159.7k | $51.48 |
| − Vacancy | −$30.2k | −$9.73 |
| EGI | $129.5k | $41.75 |
| − OpEx | −$32.4k | −$10.44 |
| NOI | $97.1k | $31.31 |
3,102 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.39M
$1.21M – $1.62M
NOI $97,132 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.72M
$6.76M – $9.01M
NOI $540,492 @ 7.0% cap · market cap 30.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Gramercy Information Technology
Tech Support Center
Gramercy Healthcare Management
Business Management Consultant
Grand Army Medical
Medical Clinic
307 7th St ...
Condominium Complex
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FAQs
What type of property is this?
Office units - Full-floor commercial condo in prime Manhattan location.
Where is this office units located?
The property is located at 316 East 22Nd Street New York, NY.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: Prime Gramercy Park location in a prestigious and charming neighborhood.; Spacious **3,102 square foot full‑floor commercial condominium.**; Ideal for medical, professional, or creative office use.
