Property Manhattan (United-States) Price: $ 3,350,000 USD
  • Euro (€ EUR)
  • American Dollar ($ USD)
  • British Pound (£ GBP)
Bedrooms 8  Bathrooms 8 

Situated in the heart of Hell's Kitchen, Manhattan, 431 West 48th Street is a prime multi-family building offering significant upside and investment potential. Built in 1920 with recent renovations, this 6,560 sq. ft. building sits on a 2,510 sq. ft. lot and features 8units, all one-bedroom units, and are well below market rate rents. 3 Rent Stabilized and 5 Free Market units in total.The property's prime location provides convenient access to public transportation, including major subway lines (A, C, E), bus routes, and bike lanes, as well as an array of dining, entertainment, and cultural venues, including Broadway and off-Broadway theaters. Nearby, residents can enjoy Central Park, Hudson River Park, and several local parks.
The property currently generates a gross income of $203K per year and a net operating income (NOI) of $108K per year, with huge upside potential in rents and monetizing full ceiling height basement and incredible roof with views. Total Annual expenses are approximately $95K. The building is zoned R8, offering potential development opportunities with approximately 8,000 Sq Ft of unutilized air rights. Multiple areas for an experienced operator to maximize earning potential and reimagine spaces to increase rent roll. The area attracts a diverse tenant base ensuring high occupancy rates and consistent rental income

Read more

Advertiser reference: 99064509 - Le Figaro Properties reference: 75009486

In detail

    • Surface 0 m2
    • Pièces 24
    • Chambres 8
    • Land NC*
    • Construction NC*
    • Nb étages 4
    • Parking NC*
    • Salles de bain 8
    • Toilettes NC*
    • Exposition NC*
    • Chauffage NC*
    • Cuisine NC*
    • Taxe foncière NC*
  • Energy Performance Certificate

    Information not provided by the advertiser

    *GreenHouse Gas emission

    Information not provided by the advertiser

* Information not provided by the advertiser

Ask for more information Ask for more information

Property Manhattan (United-States)

You couldn’t get through to the owner?
Send it an email right now!
Ask for more information
  • Ask for more information
  • Make an appointment
  • To be called back

By confirming this form, I agree to the General Usage Terms & Conditions of Figaro Properties.
The data entered into this form is required to allow our partner to respond to your contact request by email/SMS concerning this real estate advertisement and, if necessary, to allow Figaro Classifieds and the companies belonging to its parent Group to provide you with the services to which you have subscribed, e.g. creating and managing your account, sending you similar real estate advertisements by email, proposing services and advice related to your real estate project.

Find out more

This data can also be accessed by Figaro Classified service providers, which provide administrative and technical assistance with sending the information; please be informed that said information may be transferred outside the European Union with the appropriate safeguards in place.

Finally, subject to the options you subscribed to, you can give permission for your data to be used for the purposes of targeted advertising and commercial prospecting by the partners of Figaro Classifieds.

If you require further information about how long your data will be retained and the contact details of the Data Protection Officer of our partner and for Figaro Classifieds, please click here.

To exercise your rights of access, rectification, opposition, deletion, limitation and portability with Figaro Classifieds, please click here or send an email to: DPO_proprietes@figarocms.fr

Ask for more information to:

The Corcoran Group All the listings of this agency Contact an advisor

Photograph this QR Code with your phone to visit the listing

Contact an advisor