Medical/Professional Condo in Lenox
184 E 70th St New York, NY 10021
184 E 70th St, New York, NY, 10021
Contact for pricing
For Sale
Contact for pricing
Medical/professional condominium for sale in Lenox Hill, Manhattan.
Property Size1,883 SF
Price / SF$902.81
Days on Market735
Property Features for 184 E 70th St
General Information
- Standard status
- Active
- Size
- 1,883 SF
- Property subtype
- Office
Listing agency
Wexler Health Care Properties Team
(212) 836-1075
Listed by
Paul Wexler · License #NY 30WE0902877
Source
Crexi
Added: Jul 18, 2024 Updated: Jul 10 at 11:18AM Checked: Jul 17 at 1:02PM
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 Wexler Health Care Properties Team
Investment Insights
Based on property information with market context.
Located in Lenox Hill between Lexington Avenue and 3rd Avenue, 184 East 70th Street, Suite B2, is a medical/professional condominium available for sale. The layout of this approximately 2,000 SF space features a large waiting room, a reception area with an additional admin space, six exam rooms, a lab, two offices/consults, two admin offices, two restrooms, and a kitchenette. Currently configured as a shared medical practice for cardiology and internal medicine, this space is adaptable to any medical specialty. The property is easily accessible by public transportation via Upper East Side subway lines and bus routes. It is also within close proximity to several top medical facilities in New York including Lenox Hill Hospital, Memorial Sloan Kettering Cancer Center, The Manhattan Eye, Ear, Nose and Throat Hospital, The Hospital for Special Surgery, Mount Sinai Medical Center, NY Presbyterian /Weill Cornell Hospitals, and Rockefeller University Hospital. The property has a size of 1,883 square feet. The common charges are $4,358.58 per month, and the real estate taxes are $44,202 per year.
Key Highlights
- Prime Lenox Hill location between Lexington and 3rd Avenue, ideal for medical professionals.
- Adaptable 2,000 SF layout suitable for various medical specialties.
- Features six exam rooms, a lab, two offices/consults, and multiple admin areas.
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 | $96.9k | $51.48 |
| − Vacancy | −$18.3k | −$9.73 |
| EGI | $78.6k | $41.75 |
| − OpEx | −$19.7k | −$10.44 |
| NOI | $59.0k | $31.31 |
1,883 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$842.3K
$737.0K – $982.7K
NOI $58,962 @ 7.0% cap · market cap 3.47%
Second Best
Healthcare Medical
$801.8K
$701.6K – $935.5K
NOI $56,128 @ 7.0% cap · market cap 3.30%
Theoretical Best
Specialty Retail
$4.69M
$4.10M – $5.47M
NOI $328,094 @ 7.0% cap · market cap 19.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Segal Robert P ...
Physician
Frumkin Nephrology Associates
Physician
Boris B. Ivkov, ...
Physician
John P. Getsos, ...
Geriatric Care Provider
Dr. Doron Z. ...
Physician
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FAQs
What type of property is this?
Medical Office Space - Medical/professional condominium for sale in Lenox Hill, Manhattan.
Where is this medical office space located?
The property is located at 184 E 70th St New York, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Prime Lenox Hill location between Lexington and 3rd Avenue, ideal for medical professionals.; Adaptable 2,000 SF layout suitable for various medical specialties.; Features six exam rooms, a lab, two offices/consults, and multiple admin areas.
