About this property
1125 sq ft back yard perfection! built-in BBQ 3 bedroom 2 bathroom duplex – 2400sqft. And collect rent from 3 floor-through apartments (1200sqft each) that are all free market (can be delivered vacant).
Perfect for life with a large private back yard, collect rent from 3 apartments.
Inplace proforma is an attractive 4.0%, with apartments renting below market. All apartments are free market.
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. Just steps from the Theater District and Times Squares restaurants, entertainment, and transport. 5-minute walk to Central Park, the Columbus Circle bustle, and the Lincoln Center – the world’s cultural epicenter. 418 West 51st Streets location and convenience cannot be beaten.
The large scale of this offering, truly uncommon, provides developers with the critical mass necessary to create a unique residence in what has become New York Citys most sought after neighborhood.
Nearby transportation includes: C,E,1,2,3,7,N,R,W,B,D trains & Port Authority.
As the long history of New York City neighborhoods such as Soho, Chelsea, Meat- Packing and Hudson Yards would suggest, residents, being priced out of mature neighborhoods will always travel along transportation lines to neighboring areas where they can live more comfortably. With the finest new restaurants, cafes, bars, art galleries, retail stores, and creative work lofts, Hells Kitchen / Clinton has emerged as a fast-growing and most sought after real estate market in all of New York City.
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.
Property Details
Block: 1060 Lot: 43
Lot Dimensions 25.0 × 100.0
Zoning: R8
FAR as Built: 2.05
Max FAR: 6.02
Listing Courtesy of Steven Moss
