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Property profile & analytics
FOR LEASE
Coworking space

116 E 124Th St New York, NY 10035

Built 1920
Entity Owned 4-yr Hold
Property ID
US63-0214619
Property summary
AI-generated overview

Park Avenue Suites at 116-122 E 124th Street provides a sophisticated, dynamic shared workspace setting in East Harlem. These flat-rate, all-inclusive offices are on the third floor, with a full-floor leasing opportunity available on the fifth floor. Prospective tenants are invited to experience the luxury of having their own private office space, with 24-hour accessibility and no hidden fees. The third floor offers inviting lounge areas, a high-tech-enabled conference room, and 18 meticulously designed private offices. Various private office sizes, starting at 200 square feet, come with a desk, two chairs, and high-speed internet. Park Avenue Suites provides a fee-supported color printer and a business address for employees to efficiently work and meet with clients. 116-122 E 124th Street sits on a tree-lined block between Park and Lexington Avenues. Property features include a beautifully renovated lobby, high ceilings, large windows throughout the building, and two renovated passenger elevators. Con Edison, the United States Post Office, and the Park Avenue Dialysis building are co-tenants. A half-block to the Metro North train station provides hassle-free commuting to and from this premier location. Current tenant capacity 125 people

Property profile
Verified
Property type Coworking space
Year built 1920
UPID US63-0214619
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Spring Wells Consolidated Insurance Agency
  • House of Excellence Fellowship Church Mosque
  • Christ Embassy Church, Manhattan Association / Organization
  • 124 Rapid Medical Clinic
  • Elizabeth Hyde Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
116 East 124 Associates, LLC · 4 yrs held
116 East 124 Associates, LLC
since 2021
3 recorded transactions
2021
Price N/A
2017
Price N/A
2016
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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