Ground-Floor Medical Office
875 Fifth Avenue New York, NY 10021
875 Fifth Avenue, New York, NY, 10021
$895,000
For Sale
$895,000
Renovated suite with private reception, consultation rooms, and natural light on a prestigious Fifth Avenue address.
Property Size1,000 SF
Price / SF$895
Days on Market48
Property Features for 875 Fifth Avenue
General Information
- Standard status
- Active
- Size
- 1,000 SF
- Property subtype
- Office
Listing Agency
Kassin Sabbagh Realty (KSR)
(917) 656-5304
Listed by
Claude Kolb
Source
Lee-associates
Added: Jun 2 Checked: Jul 19 at 3:16 am
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 Kassin Sabbagh Realty (KSR)
Investment Insights
Based on property information with market context.
This ground-floor cooperative office suite offers approximately 1,000 square feet of renovated medical or professional space with a refined, client-ready layout. The interior is arranged with a private reception area that welcomes visitors directly from the building lobby, along with multiple consultation rooms and an open-plan workspace designed for day-to-day operations. Oversized windows bring in abundant natural light throughout, while polished finishes, built-in storage, and efficient support areas help keep the space functional for high-end professional use.
The suite benefits from gracious Fifth Avenue frontage and a dedicated Fifth Avenue entrance, supporting a straightforward, recognizable arrival experience. With controlled access and direct access to the lobby, the building provides both prestige and security, along with a dedicated service core that supports convenient back-of-house flow.
Well suited for medical practices and professional offices that need a polished, reception-centric environment with private rooms and a flexible team workspace, this suite’s configuration supports a range of patient and client workflows. Cooperative ownership can also appeal to users seeking long-term stability in a maintained, high-quality building setting.
The suite benefits from gracious Fifth Avenue frontage and a dedicated Fifth Avenue entrance, supporting a straightforward, recognizable arrival experience. With controlled access and direct access to the lobby, the building provides both prestige and security, along with a dedicated service core that supports convenient back-of-house flow.
Well suited for medical practices and professional offices that need a polished, reception-centric environment with private rooms and a flexible team workspace, this suite’s configuration supports a range of patient and client workflows. Cooperative ownership can also appeal to users seeking long-term stability in a maintained, high-quality building setting.
Key Highlights
- Renovated 1,000‑SF ground‑floor medical or professional office/co‑op suite
- Private reception area with client access from the building lobby via dedicated Fifth Avenue entrance
- Includes multiple consultation rooms and an open‑plan workspace configurable for collaborative teams
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 | $51.5k | $51.48 |
| − Vacancy | −$9.7k | −$9.73 |
| EGI | $41.8k | $41.75 |
| − OpEx | −$10.4k | −$10.44 |
| NOI | $31.3k | $31.31 |
1,000 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$447.3K
$391.4K – $521.9K
NOI $31,313 @ 7.0% cap · market cap 3.50%
Second Best
Healthcare Medical
$425.8K
$372.6K – $496.8K
NOI $29,808 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$2.49M
$2.18M – $2.90M
NOI $174,240 @ 7.0% cap · market cap 19.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Spinelli Henry M ...
Physician
Jamie Manning, MD, ...
Physician
Debra Wattenberg , MD ...
Physician
Park Avenue Chamber ...
Theater & Performing Art Venue
Maisel Jerome E ...
Pediatrician
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FAQs
What type of property is this?
Medical Office Space - Renovated suite with private reception, consultation rooms, and natural light on a prestigious Fifth Avenue address.
Where is this medical office space located?
The property is located at 875 Fifth Avenue New York, NY.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Renovated 1,000‑SF ground‑floor medical or professional office/co‑op suite; Private reception area with client access from the building lobby via dedicated Fifth Avenue entrance; Includes multiple consultation rooms and an open‑plan workspace configurable for collaborative teams
