Property profile

550 Park Ave New York, NY 10065

OFF-MARKET
Office Spaces
4,055 SF
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Property summary

AI-generated overview

This exceptional 4,055-square-foot medical office suite is ideally situated on the ground floor of a prestigious pre-war luxury co-op building at 550 Park Avenue, between East 61st and East 62nd Streets in the prime Lenox Hill neighborhood of New York City. Currently configured as an ophthalmology/optometry practice, this turnkey space is move-in ready and offers a sophisticated and efficient layout. The suite boasts a private street entrance on Park Avenue, leading to a welcoming reception area and two waiting rooms designed for optimal patient flow. Ten exam rooms, two laboratories, two testing rooms, four administrative offices, a staff lounge, four restrooms, five closets, and a dedicated filing area provide ample space for a thriving practice. The space is well-lit with recessed and overhead lighting, creating a comfortable and productive atmosphere. Additional features include an ADT security system, overhead speakers, and a secondary entrance through the building's main lobby, ensuring the safety and security of both patients and staff. A unique feature is a well-appointed traditional-style wood-paneled office/consult room complete with a Murphy bed and an ensuite bathroom. The building's location offers excellent accessibility via Upper East Side subway lines and bus routes, and is conveniently close to several renowned medical facilities, including Lenox Hill Hospital, Memorial Sloan Kettering Cancer Center, and others. Asking price is $5,275,000.

Property profile

Verified
Property type Office Spaces
Total area 4,055 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Ophthalmologist
  • Ophthalmologist
  • Ophthalmologist
  • Ophthalmologist
  • Ophthalmologist

Location

550 Park Ave New York, NY 10065
New York metro
Google Maps

Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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