Your email has been sent.
Vacant Condo in the Medical Mile 345 E 37th St 3,438 SF Office/Medical Condo Unit Online Auction Sale New York, NY 10016
Investment Highlights
- Opportunity to acquire Unit 305, a medical office condominium within The Corinthian, a mixed-use tower in New York City’s Midtown East neighborhood.
- In the Medical Mile corridor adjacent to major healthcare institutions like NYU Langone Medical Center, Tisch Hospital, and Bellevue Hospital.
- Benefiting from valuable demographics with a population on the rise and high average household incomes of $177,258 within a 1-mile radius.
- Providing convenient access via Grand Central Terminal and the Queens Midtown Tunnel connecting throughout the city.
- Premier building features include a sleek renovated lobby, a loading dock, a privately managed garage offering daily and monthly parking, and more.
Executive Summary
The Corinthian Office Condominiums presents an opportunity to acquire a medical office condo in a prestigious Midtown East location. Situated within The Corinthian, a 57-story mixed-use tower in New York City, Unit 305 offers 3,438 square feet of turnkey space ideal for businesses seeking immediate occupancy. Building amenities include a newly renovated lobby with soaring ceilings and marble finishes, a 38th Street freight entrance and loading dock, a privately managed garage with daily and monthly parking, public restrooms on each floor, and individual electric distribution panels for each unit. 345 E 37th Street is strategically located on East 37th Street between First and Second Avenues, adjacent to the world-class NYU Langone Medical Center campus, and is within a densely populated and affluent neighborhood. The Corinthian is significantly positioned within renowned New York City, home to a notoriously robust community. A total of 1,332,514 residents who produce a substantial average household of more than $158,341 surround the property within a 3-mile radius. This population boasts a highly educated workforce, as 72% of residents obtain a bachelor's degree or higher. These locals have a powerful disposable income, spending nearly $22 billion annually within the community, and are joined by almost 1.7 million daytime employees who may also discover service needs within their daily commutes. Acquiring a meticulously maintained office condominium gives professionals the ability to lock in their occupancy costs and insulate themselves from the ever-rising expense of office leasing in Manhattan. The Corinthian makes office ownership attainable and ultimately more affordable than leasing. Property tours are available by appointment only. Please contact the broker to schedule.
Matterport 3D Tour
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
1 Unit Available
- Unit
- Unit Size
- Condo Use
- NOI
| Sale Type | Investment |
| Sale Type | Investment |
| Unit | Unit Size | Condo Use | NOI |
| Unit 305 | 3,438 SF | Office/Medical | - |
Unit 305
| Unit Size |
| 3,438 SF |
| Condo Use |
| Office/Medical |
| NOI |
| - |
Unit 305
| Unit Size | 3,438 SF |
| Condo Use | Office/Medical |
| NOI | - |
| Sale Type | Investment |
Property Facts
| Total Building Size | 105,640 SF | Typical Floor Size | 35,213 SF |
| Property Type | Office (Condo) | Year Built | 1989 |
| Property Subtype | Medical | Lot Size | 1.86 AC |
| Building Class | B | Parking Ratio | 0.95/1,000 SF |
| Floors | 3 | Type of Ownership | Fee Simple |
| Zoning | C1-9 - Commercial district predominantly residential in character | ||
| Total Building Size | 105,640 SF |
| Property Type | Office (Condo) |
| Property Subtype | Medical |
| Building Class | B |
| Floors | 3 |
| Typical Floor Size | 35,213 SF |
| Year Built | 1989 |
| Lot Size | 1.86 AC |
| Parking Ratio | 0.95/1,000 SF |
| Type of Ownership | Fee Simple |
| Zoning | C1-9 - Commercial district predominantly residential in character |
Amenities
- Bus Line
- Signage
- Wheelchair Accessible
- Central Heating
- Wi-Fi
- Air Conditioning
- Balcony
- Smoke Detector
Demographics
Demographics
Nearby Amenities
Hospitals |
|||
|---|---|---|---|
| New York University Langone Medical Center | Acute Care | 3 min drive | 1.2 km |
| Bellevue Hospital Center | Acute Care | 3 min drive | 1.8 km |
| New York Eye and Ear Infirmary of Mount Sinai | Acute Care | 4 min drive | 2.6 km |
| Mount Sinai Beth Israel | Acute Care | 5 min drive | 2.9 km |
| New York - Presbyterian Hospital | Acute Care | 5 min drive | 2.9 km |
Sale Advisor
Sale Advisor
Zach Weil, Managing Director
Weil has represented the owners of numerous prestigious buildings in New York City, including SL Green, RXR, Columbia, ESRT, Blackstone, Silverstein Properties, Carlyle Group, Atlas Capital, ELK Investors, Harbor Group and Philips International Holding Corporation. He is a member of the Newmark leasing team that has transformed historically traditional buildings into modern tech hubs for some of the most well-known companies in the New Media industry, including Roku, VTS, AB inBev, Bark, Snowflake, Investopedia and Tempus, among others. Weil has also served as the exclusive sales agent for 40 Rector Street, totaling more than 400,000 square feet of sales to date. 40 Rector Street is considered one of the largest commercial condominium projects in Manhattan, and as its agents, Weil and his team have sold more commercial condominium space than any other New York team within the last five years.
Weil is also focused on Tenant Representation, having completed approximately 300,000 square feet in transactions for such clients as AdTheorent, Morning Brew, Tapad, easyship, SohoWorks, Transmit.live, Brooklyn LAB Charter School, Wix.com, Alt, Worthy, Fino Consulting Group and Linq3 Technologies. Weil’s experience in both Landlord Representation and Tenant Representation has given him the invaluable ability to see all sides of a transaction. This expertise has led to his focus on advising venture capital firms with their portfolio companies’ real estate needs. Weil and his team serve as the single point of contact for all real estate decisions and questions – an advantageous tool for venture capital firms to offer their portfolio companies, as a growing firm’s real estate needs are constantly changing. He has worked with companies such as Primary Ventures, Trail Mix Ventures, ffVC and others.
Weil and his team have also sponsored the organization AlwaysOn, which organizes technology/new media conferences all over the country in order to acknowledge the fastest-growing technology companies around the world.
About the Auction Technology
Auction Contact
Presented by
Vacant Condo in the Medical Mile | 345 E 37th St
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Presented by
Vacant Condo in the Medical Mile | 345 E 37th St
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.