SOLD FOR $4,500,000
Listed at $4,850,000 · Sold 7.2% below asking · Closed April 12, 2017
$4,500,000
$1,587 per sq ft
Listed at $4,850,000 $-350,000 vs asking
5 E 44th Street #RETAIL
MLS® #RLS10010415
Listing by Compass
Studio
1
Bath
2,836
Sq. Ft.
2009
Year Built
Sale Details
Property Summary
Description
The Lulla Team has been retained on an exclusive basis for the sale of a retail-condominium located at 5 East 44th Street. This is an incredible investment opportunity to own an approximately 2836 sq. ft. ( 1876 on the first floor and 960 in fully usable basement) retail-condominium with 14' of frontage on a main commercial corridor with tremendous foot traffic near Grand Central. The subject property is currently occupied by a medical practice but will be delivered vacant and is prime for an owner-user to occupy the space or makes a unique investment. The location is between Madison and Fifth Avenue - neighboring tenants include Brooks Brothers, The Cornell Club of New York, Allen Edmonds and Coach. This property represents a great opportunity for future ownership to realize a high yield in an area where retail rents have been steadily on the rise, expected cap rate is 6-7%. It is one block from One Vanderbilt, which will be the city's tallest office tower building with over $1.6 million square feet.
Property Details
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Listing courtesy of Sienam Lulla at Compass. Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.