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    261 E 78Th St New York, NY 10075
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    Property profile & analytics

    261 E 78Th St New York, NY 10075

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    • Office buildings
    • 17,618 SF
    • 0.06 lot acres
    For Sale
    $10,000,000
    View Listing →
    Upper East Side Commercial Building For Sale
    $10,000,000
    17,618 SF

    Upper East Side Commercial Building

    Six-story commercial building with six units in Upper East Side.

    261 E 78th St, New York, NY
    View Listing
    Property ID
    US63-1042991
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Upper East Side Appliance Repair / Home Appliance Store
    • Upper East Smiles / Dental Office
    • James Sungsik Park, MD / Physician
    • Cohen Children's Northwell Health Physician Partners Pediatric Specialists at East 78th Street / Medical Clinic
    • Yuval Yaari / Physician

    Property Details for 261 E 78Th St

    Year built
    2008
    Lot size
    0.06 lot acres
    Property size
    17,618 SF
    Zone code
    R8B
    Property type
    Office buildings
    APN
    01433-0021
    APU
    14330021

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $9,535,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9559
    Latitude
    40.773
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $355,716
    $1,574,550
    $1,783,800
    $3,358,350
    -
    $3,499,000
    $4,662,000
    $8,161,000

    Comparable in this City

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      $4,580,000
      10,078 SF

      58 79th St Fl, Unit 5

      OFFICE BUILDING (MULTI-STORY) • 10,078 SF
      58 79th St Fl, New York, NY 10075-0221
      View Details
    • Value Estimation
      $10,395,000
      16,268 SF

      1015-1019 Madison Ave

      OFFICE BUILDING (MULTI-STORY) • 16,268 SF
      1015-1019 Madison Ave, New York, NY 10075
      View Details
    • Value Estimation
      $3,905,000
      9,007 SF

      162 78th St

      PROFESSIONAL BUILDING • 9,007 SF
      162 78th St, New York, NY 10075-0406
      View Details
    • Value Estimation
      $4,120,000
      9,069 SF

      1513 1st Ave

      OFFICE BUILDING (MULTI-STORY) • 9,069 SF
      1513 1st Ave, New York, NY 10075-0901
      View Details
    • Value Estimation
      $2,785,000
      8,637 SF

      168 80th St

      OFFICE BUILDING (MULTI-STORY) • 8,637 SF
      168 80th St, New York, NY 10075-0448
      View Details
    • Value Estimation
      $5,845,000
      12,919 SF

      18 79th St

      OFFICE BUILDING (MULTI-STORY) • 12,919 SF
      18 79th St, New York, NY 10075-0106
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      17,618 SF

      Upper East Side Commercial Building

      Six-story commercial building with six units in Upper East Side.
      261 E 78Th St, New York, NY 10075
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      Upper East Side Medical Office

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      1,500 SF

      Medical Office with Private Entrance

      Medical office featuring exam rooms, consultation room, and private entrance.
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    • $750,000
      1,300 SF

      Upper East Side Medical Office

      Medical office in pre-war co-op building on Upper East Side.
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    Similar Nearby for Lease

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      Medical Office Building in Prime Location

      Newly constructed medical office building near major hospitals and cultural institutions.
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    • Contact for pricing

      Madison Avenue Office Space

      Fifth floor office space available for rent on Madison Avenue.
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      Prime Office Space Available

      Office space for rent in New York, NY.
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      4,000 SF

      Madison Avenue Turn-Key Space

      Turn-key gallery, office, retail, and showroom space on Madison Avenue.
      1011 Madison Ave, New York, NY 10075
      View Details
    • Contact for pricing
      8,637 SF

      Medical Office Building in Manhattan

      Newly constructed medical office building in a prime location.
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      View Details
    View Listing
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    New York, NY 10075
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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.

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