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    116 124Th St New York, NY 10035

    Sponsored
    For Lease
    $47 SF/Yr

    Prestigious East Harlem Offices, 200-18,400 SF

    Lot size:
    60,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This Class A, 60,000 square foot office building, located at 116 E 124th St (cross streets Park and Lexington Avenues) in New York County's Upper East Side (zip code 10035), offers a variety of flexible office spaces. Currently, 9,200 square feet are available, with minimum divisible space of 4,500 square feet and a maximum contiguous space of 18,400 square feet. The building, constructed in 1920 and extensively renovated in 2014, features a beautifully renovated lobby, two modern elevators, and large windows throughout. The third floor boasts inviting lounge areas, a high-tech conference room, and 18 meticulously designed private offices ranging from 200 square feet upwards. Amenities include high-speed internet, a fee-supported color printer, and a business address. The building offers 24-hour access and is conveniently located near Metro North, with prominent tenants such as Con Edison and the United States Post Office. The building has five stories and a current tenant capacity of 125 people. Additional space may be available on the fifth floor if needed. This is an exceptional opportunity to secure prime office space in a highly desirable location.

    Property Features for 116 124Th St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    60,000 SF
    Class
    A
    Total Rate
    235000

    Building Details

    Year Built/Renovated
    1920/2014
    Buildings
    1
    Stories
    5

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    9,200 SF
    Rate per SF
    $47

    HighLights

    • Full‑time Lobby Attendant on‑site
    • 24‑hour building access
    • State‑of‑the‑art security cameras throughout
    • On‑site USPS mailboxes
    • Secure access via keyed elevators
    Property Profile Location Intelligence

    Current Use by Public Records

    Spring Wells Consolidated Insurance Agency House of Excellence Fellowship Religious Organization Christ Embassy Church, ... Association / Organization 124 Rapid Medical Clinic Elizabeth Hyde Social Worker

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    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
    -73.938693291768
    Latitude
    40.804033629648

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    FAQs

    What type of property is this?
    Office space - Prestigious East Harlem Offices, 200-18,400 SF
    Where is this office space located?
    The property is located at 116 124Th St New York, NY.
    What is the lease rate?
    The lease rate is $47 SF/Yr.
    What are key features of this property?
    This property features: Full-time Lobby Attendant on-site; 24-hour building access; State-of-the-art security cameras throughout
    Request Owner's contact information
    116 124Th St New York, NY 10035
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    Realmo Value Estimation

    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.

    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.

    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
    116 124Th St New York, NY 10035
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