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    401 Park Ave S New York, NY 10016

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    Flexible office spaces, coworking, meeting rooms, and virtual office options.

    Type:Office
    Added:
    Mar 27, 2025
    Days on Market:
    394
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 401 Park Ave S

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 401 Park Ave S Contact us

    Private office for 4 people $2 /Mo

    Size
    Type
    Office
    Professional office space in Spaces Midtown South on fully flexible termsnTotal Monthly...
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    Private office for 5 people $2 /Mo

    Size
    Type
    Office
    Find office space in Spaces Midtown South for 5 persons with everything taken care...
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    Private office for 3 people $4 /Mo

    Size
    Type
    Office
    Beautifully designed office space for 3 persons in Spaces Midtown SouthnTotal Monthly...
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    Open plan office space for + 10 people $4 /Mo

    Size
    Type
    Office
    Fully serviced open plan office space for you and your team in Spaces Midtown SouthnTotal...
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    Open plan office space for + 15 people $4 /Mo

    Size
    Type
    Office
    24/7 access to open plan office space for 15 persons in Spaces Midtown SouthnTotal...
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    Coworking dedicated $2 /Mo

    Size
    Type
    Office
    Work, meet and collaborate in a shared office space in Spaces Midtown SouthnTotal...
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    Virtual Office $4 /Mo

    Size
    Type
    Office
    Have us take care of everything while you focus on growing your businessnnnPut your...
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    Private office for 1 person $1.22 /Mo

    Size
    Type
    Office
    Tailor-made dream offices for 1 person in Spaces Midtown SouthnTotal Monthly Rent:...
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    Private office for 2 people $2 /Mo

    Size
    Type
    Office
    Fully serviced private office space for you and your team in Spaces Midtown SouthnnnPut...
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    Coworking Non Reserve $1.38 /Mo

    Size
    Type
    Office
    Work in Spaces Midtown South or anywhere else in our global networknTotal Monthly...
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    We can help!

    Listing Contact
    New York 2 Spaces US

    Listing agent New York 2 Spaces US License #FLBO

    Listing office Spaces

    Listing date Mar 27, 2025

    Source Crexi

    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 Spaces

    Overview

    Versatile Workspace Solutions in New York

    This commercial real estate offers a global network of workspaces designed to accommodate various work styles and needs. Tailored office spaces are available, ranging from individual desks to accommodations for larger companies, potentially supporting from 1 to 100 desks or more. A range of professional and collaborative workspaces, communities, and services are provided. Options include private, fully furnished, and equipped offices customized to specific requirements, executive office suites, disaster recovery spaces, and day offices available on demand. Coworking spaces offer a sociable environment in shared offices or open-plan areas, with options for reserved spaces or hot desking. Meeting rooms are available in various sizes, suitable for informal chats, presentations, training sessions, interviews, board meetings, or conferences, with access to Wi-Fi and equipment. Virtual office services provide business addresses in prime locations, mail handling, and professional virtual assistant services, including lounge access and office use. Flexible working plans offer unlimited access to business lounges in city centers, airports, and stations, with options for private offices or coworking spaces for a set number of days per month. The property is located at 401 Park Ave S, New York, NY 10016.
    Location Intelligence

    Current Use by Public Records

    Coworking space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9782
    Latitude
    40.7445

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    FAQs

    What type of property is this?
    Coworking space - Flexible office spaces, coworking, meeting rooms, and virtual office options.
    Where is this coworking space located?
    The property is located at 401 Park Ave S New York, NY.
    What are key features of this property?
    This property features: Global network of workspaces with over 3000 locations and 100,000+ offices.; Customizable office spaces available, from 5 sqm to 1000+ sqm, accommodating 1 to 100+ desks.; Flexible working plans offer unlimited access to business lounges in city centers, airports, and stations worldwide.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    New York 2 Spaces US
    Real Estate License ID: FLBO
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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