418 WEST 51 STREET

For Sale - Manhattan - Hell's Kitchen / Clinton

$6,500,000

Net Operating Income: Contact Agent

Ic expand

Key Details

Property Type
MultiFamily
Neighborhood
Hell's Kitchen / Clinton
Property Dimensions
25.0 x 54.0
Property Area
5,140 sq.ft.
Total Units:
4
Stories:
4
NOI
Contact Agent
Price
$6,500,000
Price Per Unit
$1,625,000
Cap Rate
-%

Listing Description

levelgroup is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of this multi-family residential property located just off 9th Avenue on West 51st Street in the prestigious Hells Kitchen neighborhood of Manhattan. The property is zoned R8 and has the potential to add roughly 10,000 square feet to the existing 5,140 sq ft. From an investment perspective, 418 W 51st Street presents a rare opportunity to purchase real estate in a rapidly appreciating neighborhood at a significant discount. This presents an ideal scenario for a forward-looking investor. In its current configuration the (below market) rental income from the 3 lease apartments, provides an enticing possibility to occupy the lower duplex with the 900 sq foot garden and get a considerable part of the mortgage paid. As the leases renew, much higher rentals are easily attained. Property Details Block: 1060 Lot: 43 Lot Dimensions 25.0 x 100.0 Zoning: R8 FAR as Built: 2.05 Max FAR: 6.02

Property Details

Block/Lot:
1060/43
Lot Dimensions
25.0 x 100.42
Lot Area
2,510 sq.ft
Zoning:
R8
FAR as Built:
2.05
Max FAR:
6.5
Steven MossLevel Group
Contact Agent View Setup