Office Units with Three-Zone
For Sale
$8,999,999
85 5th Avenue 8, New York City, NY 10003
Prewar office units with three-zone HVAC, brand-new electric baseboard heating, and oversized windows.
Property Size9,300 SF
Price / SF$967.74
Days on Market291
Property Features for 85 5th Avenue 8
General Information
Standard status
Active
Size
9,300 SF
Property subtype
Apartment
Financials
Asking Price
$8,990,000
HOA Fee
$18,040
Taxes and HOA fees
Annual Taxes
$216,480
Building Details
Building Size
9,300 SF
Year Built
1901
Listing Agency:
Compass
Listed By:
David Graff
(917) 664-1452
Source:
Nobleblackandpartners
Added: Jan 13
Changed: Oct 27
Last Checked: Oct 30 at 10:57PM
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
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Investment Insights
Based on property information with market context.
85 Fifth Avenue offers office units in a prewar building originally built in 1901. The available space is described as having strong natural light, efficient proportions, and flexible layouts suitable for owner-users, professional firms, or investors. Modern systems support day-to-day office use, and the building is completely electric.
The space includes brand-new electric baseboard heating, 3 zone HVAC, 5 private bathrooms, 11 1/2 foot ceilings, and oversized windows. The building also has an Energy Efficiency Grade of 97 and is stated to avoid NYC Local Law 97 carbon emission fines in 2030.
The ground floor retail is anchored by the recently opened New York Flagship Nespresso Experience Store. The building is positioned at the intersection of Union Square, Flatiron, and Greenwich Village in Manhattan’s Fifth Avenue corridor.
The space includes brand-new electric baseboard heating, 3 zone HVAC, 5 private bathrooms, 11 1/2 foot ceilings, and oversized windows. The building also has an Energy Efficiency Grade of 97 and is stated to avoid NYC Local Law 97 carbon emission fines in 2030.
The ground floor retail is anchored by the recently opened New York Flagship Nespresso Experience Store. The building is positioned at the intersection of Union Square, Flatiron, and Greenwich Village in Manhattan’s Fifth Avenue corridor.
Key Highlights
- 3 zone HVAC
- Brand‑new electric baseboard heating
- 5 private bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$291,208
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,824,160
$5.8M
Cap Rate 7%
$4,160,114
$4.2M
Cap Rate 9%
$3,235,644
$3.2M
Market Conditions
NOI Build-Up for 9,300 SF
Gross rent
$478.8K $51.48/SF
− Vacancy
−$90.5K −$9.73/SF
EGI
$388.3K $41.75/SF
− OpEx
−$97.1K −$10.44/SF
NOI
$291.2K $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 Rate 5%
$5,824,160
Cap Rate 7%
$4,160,114
Cap Rate 9%
$3,235,644
Alternative Uses
Best Use
Office B
$4.16M
$3.64M – $4.85M
NOI $291,208 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$23.15M
$20.26M – $27.01M
NOI $1,620,432 @ 7.0% cap · market cap 18.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
44,044
Businesses Nearby
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Business Placement
Demographics for 10003, NY
57,076
Population
30,730
Households
1.9
Avg Household Size
32
Median Age
82%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
95,127
Density / Sq Mi
$153,750
Median Household Income
$82,560
Median Earnings
$2,772
Median Rent
$1,137,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Prewar office units with three-zone HVAC, brand-new electric baseboard heating, and oversized windows.
Where is this office unit located?
The property is located at 85 5th Avenue 8 New York City, NY.
What is the asking price?
The asking price for this property is $8,999,999.
What are key features of this property?
This property features: 3 zone HVAC; Brand‑new electric baseboard heating; 5 private bathrooms
