Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    62 22nd St New York, NY 10010-5147
    Property profile & analytics

    62 22nd St New York, NY 10010-5147

    View on Map
    • Investment properties
    • 3,478 SF
    • 0.04 lot acres
    Off-Market
    Last Sale Oct 31, 2024
    Property ID
    US63-2671605
    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
    $1,370,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ashby's Lashes Waxing & Facial / Hair Salon
    • Good Day Massage | Massage Spa NYC NY-Asian Massage / Alternative Medicine Practice / Spa & Massage Center
    • Bite / Take-out & Catering

    Property Details for 62 22nd St

    Year built
    1940
    Lot size
    0.04 lot acres
    Property size
    3,478 SF
    Zone code
    C62A
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    00823-0076
    APU
    8230076

    Description

    This exceptional 1,200 square foot medical office space is located on the second floor of a building at 62 West 22nd Street in New York City's vibrant Chelsea/Flatiron district. The space boasts approximately 20 feet of desirable window frontage overlooking the bustling intersection of 22nd Street and 6th Avenue, ensuring high visibility and foot traffic. Benefiting from its proximity to the 23rd & 6th Avenue subway station, this location guarantees a consistent flow of potential clients seven days a week. The space is currently built out as a salon, featuring newly installed white box finishes, including flooring, lighting, and HVAC systems. This turnkey space is ideal for a variety of uses, including medical offices, fitness centers, hair and nail salons, medi-spas, retail businesses, or general office space. The multiple tenancy building is situated in New York County, NY, 10010. This is a rare opportunity to secure a high-traffic, well-appointed space in a prime Manhattan location. The space is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,850,000
      6.5%
      $1,705,000
      7%
      $1,585,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,220,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.993
    Latitude
    40.7419
    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
    $70,714
    $157,500
    $510,120
    $667,620
    -
    $400,000
    $1,230,000
    $1,630,000

    Comparable in this City

    • Value Estimation
      $780,000
      1,950 SF

      203 26th St

      STORE/OFFICE (MIXED USE) • 1,950 SF
      203 26th St, New York, NY 10010-1911
      View Details
    • Value Estimation
      $2,035,000
      4,600 SF

      676 Ave Of The Americas

      STORE/OFFICE (MIXED USE) • 4,600 SF
      676 Ave Of The Americas, New York, NY 10010-5110
      View Details
    • Value Estimation by Request
      11,070 SF

      164 5th Ave

      STORE/OFFICE (MIXED USE) • 11,070 SF
      164 5th Ave, New York, NY 10010-5901
      View Details
    • Value Estimation
      $1,745,000
      4,287 SF

      686 Ave Of The Americas

      STORE/OFFICE (MIXED USE) • 4,287 SF
      686 Ave Of The Americas, New York, NY 10010-5110
      View Details
    • Value Estimation
      $1,640,000
      59,020 SF

      95 Marginal St

      STORE/OFFICE (MIXED USE) • 59,020 SF
      95 Marginal St, New York, NY 10010
      View Details
    • Value Estimation
      $6,410,000
      4,674 SF

      913 Broadway

      STORE/OFFICE (MIXED USE) • 4,674 SF
      913 Broadway, New York, NY 10010-7106
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,100 SF

      Five-Story Mixed-Use Building in Flatiron

      Mixed-use building in Flatiron, New York, spanning 7,100 square feet.
      25 W 23Rd St, New York, NY 10010
      View Details
    • $4,500,000
      2,628 SF

      East 21st Street Mixed-Use Building

      Prime NYC location, high cash flow, strong NOI.
      343 21St St, New York, NY 10010
      View Details
    • Contact for pricing
      17,078 SF

      Office Building in New York

      17,078 square foot office building for sale.
      42 E 23Rd St, New York, NY 10010
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Prime Location

      2500 SF retail space available in New York, NY.
      48 West 22Nd St, New York, NY 10010
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Retail Space Available

      1,400 Sqft retail space with high ceilings for rent.
      30 E 23Rd St, New York, NY 10010
      View Details
    • Contact for pricing

      Madison Avenue Office/Medical Space

      Upscale prebuilt office or medical space for lease.
      60 Madison Ave, New York, NY 10010
      View Details
    • Contact for pricing

      Flatiron District Office Space Available

      Commercial building in a vibrant, active office market.
      251 Park Avenue S, New York, NY 10010
      View Details
    • Contact for pricing

      Retail and Office Spaces Available

      Retail and office spaces available for rent in New York.
      139 E 23Rd St, New York, NY 10010
      View Details
    • Contact for pricing

      Loft Office Space Available

      7,500 SF loft office with new amenities for lease.
      Flatiron 20s 5Th Ave, New York, NY 10010
      View Details
    • Contact for pricing
      2,645 SF

      Modern Office Space Available

      Spacious office with exposed ceilings, hardwood floors, and ample light.
      119 W 23Rd St, New York, NY 10010
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    62 22nd St
    New York, NY 10010-5147
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    62 22nd St, New York, NY, 10010
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!