Upper East Side Mixed-Use
49 E 78th St New York, NY 10075
For Sale
Contact for pricing
Pending
Mixed-use building near Central Park and Madison Avenue.
Property Size12,100 SF
Lot Size0.06 Acres
Days on Market724
Property Features for 49 E 78th St
General Information
Standard status
Pending
Size
12,100 SF
Lot size
0.06 Acres
Property subtype
Mixed Use, Multifamily
Building Details
Year Built
1910
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
John J. Stewart · License #NY 10311203263
Source:
Crexi
Added: Aug 6, 2024
Changed: Jul 10
Last Checked: Jul 29 at 3:59PM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
Located on East 78th Street between Park and Madison Avenues on the Upper East Side, the property features twenty-five feet of frontage on 78th Street. The building is constructed on a 25 foot by 102 foot R8B/LH-1A-zoned lot. The property has no remaining development rights and is part of the Upper East Side Historic District. The unit mix includes two office spaces on the cellar, mezzanine, and ground floor, currently occupied by doctors. The upper floors contain seven one-bedroom free market apartments and one duplexed owner's apartment, which will be delivered vacant. The building is located one block from Central Park and near high-end boutiques, restaurants, and cultural institutions. The location attracts a high volume of locals and tourists. The property is three blocks from the 77th Street subway station (6 train) and multiple bus lines. The building is built 25 feet by 84 feet and has a total size of 12,100 square feet.
Key Highlights
- Prime Upper East Side location: Between Park and Madison Avenues, one block from Central Park.
- One duplexed owner's apartment to be delivered vacant.
- Seven free market one‑bedroom apartments.
Financial Insights For Mixed Use
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 | $726.0k | $60.00 |
| − Vacancy | −$108.9k | −$9.00 |
| EGI | $617.1k | $51.00 |
| − OpEx | −$231.4k | −$19.13 |
| NOI | $385.7k | $31.88 |
12,100 SF · lease $60.00/SF/yr · vacancy 15.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$5.51M
$4.82M – $6.43M
NOI $385,688 @ 7.0% cap · market cap 3.98%
Second Best
Office B
$5.41M
$4.74M – $6.31M
NOI $378,884 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$30.12M
$26.35M – $35.14M
NOI $2,108,304 @ 7.0% cap · market cap 21.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building near Central Park and Madison Avenue.
Where is this mixed-use property located?
The property is located at 49 E 78th St New York, NY.
What is the asking price?
The asking price for this property is $9,700,000.
What are key features of this property?
This property features: Prime Upper East Side location: Between Park and Madison Avenues, one block from Central Park.; One duplexed owner's apartment to be delivered vacant.; Seven free market one‑bedroom apartments.
