Lenox Hill Medical Office
For Sale
$1,695,000
360 East 72nd Street, New York, NY 10021
Move-in ready medical office suite in Lenox Hill.
Property Size1,800 SF
Price / SF$941.67
Days on Market332
Property Features for 360 East 72nd Street
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Residential
Amenities
Central air
Excellent light
Pet friendly
Concierge
Doorman
Elevator
Gym
Outdoor lobby level seating area
Package Room
Roof deck
Shareholders' lounge
Storage Bins: waiting list
Building Details
Year Built
1963
Units
455
Listing Agency:
East Side
(212) 836-1075
Listed By:
Paul L Wexler · License #30WE0902877
(212) 836-1075
Source:
Corcoran
Added: Sep 26, 2025
Changed: Aug 8
Last Checked: Aug 22 at 8:15AM
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 East Side
Investment Insights
Based on property information with market context.
Located in Lenox Hill, 360 East 72nd Street, Suite 1A is a 1,800 square-foot medical office available for sale. The ground-floor suite is situated at the base of a full-service cooperative and features a private street entrance. The layout includes a large area, a reception area, administrative office space, five exam/treatment rooms, two offices/consults, a nurses' station, a staff kitchenette, two restrooms, and an IT closet. The space is equipped with multi-zone climate control, a security system, and six windows. Configured as a Hyperbaric Oxygen Therapy practice, the space is adaptable to any medical specialty. The property is easily accessible by public transportation via UES bus routes and subway lines. Its location is proximate to Lenox Hill Hospital, NewYork-Presbyterian Hospital, Weill Cornell Medical Center, HSS Hospital for Special Surgery, and Memorial Sloan Kettering Cancer Center.
Key Highlights
- Move‑in ready Lenox Hill medical office suite.
- Prime location proximate to major hospitals (Lenox Hill, NewYork‑Presbyterian, Weill Cornell, HSS, Memorial Sloan Kettering).
- Ground‑floor suite with private street entrance in a full‑service cooperative.
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
$56,363
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
3.33%
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%
$1,127,260
$1.1M
Cap Rate 7%
$805,186
$805.2K
Cap Rate 9%
$626,256
$626.3K
Market Conditions
NOI Build-Up for 1,800 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
$92.7K $51.48/SF
− Vacancy
−$17.5K −$9.73/SF
EGI
$75.2K $41.75/SF
− OpEx
−$18.8K −$10.44/SF
NOI
$56.4K $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%
$1,127,260
Cap Rate 7%
$805,186
Cap Rate 9%
$626,256
Alternative Uses
Best Use
Office B
$805.2K
$704.5K – $939.4K
NOI $56,363 @ 7.0% cap · market cap 3.33%
Second Best
Healthcare Medical
$766.5K
$670.7K – $894.2K
NOI $53,654 @ 7.0% cap · market cap 3.17%
Theoretical Best
Specialty Retail
$4.48M
$3.92M – $5.23M
NOI $313,632 @ 7.0% cap · market cap 18.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,410
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
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 - Move-in ready medical office suite in Lenox Hill.
Where is this medical office space located?
The property is located at 360 East 72nd Street New York, NY.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Move‑in ready Lenox Hill medical office suite.; Prime location proximate to major hospitals (Lenox Hill, NewYork‑Presbyterian, Weill Cornell, HSS, Memorial Sloan Kettering).; Ground‑floor suite with private street entrance in a full‑service cooperative.
