24 W 56th St - Apartments FOR SALE


New York, NY 10019
$11,100,000 USD
917-683-5905
24 W 56th St, New York, NY for Sale
$11,100,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

24 W 56th St
New York, NY 10019


OVERVIEW

This mixed-use property boasts a prime 4,000 SF ground floor and second floor restaurant space, Currently under a 15-year lease at $36,000 per month with a favorable 3% annual escalation, the restaurant provides a reliable and stable income stream, appealing to both investors and end-users aiming to establish a presence in this thriving district. The building spans 8,009 SF and includes five residential units, offering additional income potential. One unit currently rents for $4,000 per month, while a rent-controlled unit is leased at $600 per month. The remaining three free market units are vacant, ready for immediate revenue generation. With property dimensions of 22 x 91 ft and a maximum allowable floor area of 17,600 SF, this asset presents significant opportunities for future development or expansion. The price is negotiable, making it an even more attractive investment in a high-demand location.

FOR SALE DETAILS

PRICE

$11,100,000 USD

PRICE/SF

$1,386 USD /SF

# OF UNITS

6

PRICE/UNIT

$1,850,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

c5-p

APN/PARCEL ID

1271-0053

ASK ABOUT THIS PROPERTY

Emilian DergutiCapstone Properties NYMore Info
917-683-5905

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Emilian DergutiCapstone Properties NYMore Info
917-683-5905

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.