Five-Story Mixed-Use
For Sale
Contact for pricing
797 Madison Avenue, New York, NY 10002
Ground-floor retail is paired with offices above, with a private elevator and upper-level terraces.
Property Size6,973 SF
Price / SF$2,079
Days on Market54
Property Features for 797 Madison Avenue
General Information
Standard status
Active
Size
6,973 SF
Elevators
Yes
Property subtype
Mixed Use, Retail, Office
Zoning
C5-1
Site & Location
Neighborhood
Downtown
Public Transit
Yes
Additional Details
Asking Price
$14,500,000
Amenities
dual entrances
private elevator
outdoor terraces
Building Details
Year Built
1881
Buildings
1
Stories
5
Building Size
6,973 SF
Listing Agency:
Meridian Capital Group
Listed By:
David Schechtman · License #10301211874
(212) 468-5907
Source:
Crexi
Added: Sep 5
Changed: Oct 26
Last Checked: Oct 28 at 5:12AM
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 Meridian Capital Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 797 Madison Avenue in New York, this five-story mixed-use property contains 6,973 square feet with retail on the ground floor and office space across the upper levels. Constructed in 1881, the building has separate entrances, a private elevator reaching every floor, and terraces on upper stories. The property may be delivered vacant and was formerly occupied by Tory Burch.
The building is positioned among luxury retailers including Gucci, Prada, Giorgio Armani, Dolce & Gabbana, and Chanel. Transit access includes a two-minute walk to the 68th Street–Hunter College subway station and a five-minute walk to the F, Q, N, R, and W trains at Lexington Avenue/63rd Street. C5-1 zoning with an R10 equivalent is accompanied by 9,827 square feet of transferable air rights and a maximum FAR of 10.
The building is positioned among luxury retailers including Gucci, Prada, Giorgio Armani, Dolce & Gabbana, and Chanel. Transit access includes a two-minute walk to the 68th Street–Hunter College subway station and a five-minute walk to the F, Q, N, R, and W trains at Lexington Avenue/63rd Street. C5-1 zoning with an R10 equivalent is accompanied by 9,827 square feet of transferable air rights and a maximum FAR of 10.
Key Highlights
- 6,973‑square‑foot, five‑story mixed‑use building with ground‑floor retail and upper‑level office space
- 9,827 square feet of transferable air rights with a maximum FAR of 10
- C5‑1 zoning with an R10 equivalent
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$989,766
Cap Rate
6.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,795,320
$19.8M
Cap Rate 7%
$14,139,514
$14.1M
Cap Rate 9%
$10,997,400
$11.0M
Market Conditions
NOI Build-Up for 6,973 SF
Gross rent
$1.66M $237.72/SF
− Vacancy
−$243.7K −$34.94/SF
EGI
$1.41M $202.78/SF
− OpEx
−$424.2K −$60.83/SF
NOI
$989.8K $141.94/SF
Area
ZIP 10002
Vacancy
14.70%
Lease Rate
$237.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,795,320
Cap Rate 7%
$14,139,514
Cap Rate 9%
$10,997,400
Alternative Uses
Best Use
Retail
$14.14M
$12.37M – $16.50M
NOI $989,766 @ 7.0% cap · market cap 6.83%
Second Best
Office B
$3.19M
$2.79M – $3.72M
NOI $223,459 @ 7.0% cap · market cap 1.54%
Theoretical Best
Specialty Retail
$17.36M
$15.19M – $20.25M
NOI $1,214,976 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
12,896
Businesses Nearby
Explore this area
Business Placement
Demographics for 10002, NY
82,155
Population
39,646
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
71%
High-School Grad
0.8 sq mi
ZIP Area
102,694
Density / Sq Mi
$46,525
Median Household Income
$51,425
Median Earnings
$1,207
Median Rent
$808,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail is paired with offices above, with a private elevator and upper-level terraces.
Where is this mixed-use property located?
The property is located at 797 Madison Avenue New York, NY.
What is the asking price?
The asking price for this property is $14,500,000.
What are key features of this property?
This property features: 6,973‑square‑foot, five‑story mixed‑use building with ground‑floor retail and upper‑level office space; 9,827 square feet of transferable air rights with a maximum FAR of 10; C5‑1 zoning with an R10 equivalent
