Property
| Ownership: | For Sale |
|---|---|
| Type: | Unknown |
| Bedrooms: | Studio |
| Pets: | Pets No |
| Lot Size: | 0.05 Acres |
Financials
DescriptionCurrent Configuration: 4 Residential Units + 1 Retail Storefront
Annual Gross Income: $465,000
2024 Property Taxes: Only $96,000
Lot Size: 20×100.42ft
Building Footprint: 20×50ft (approx. 3,540SF, 3 stories)
Development & Upside Potential
Zoning: R8 (High-Density Residential) with C1-5 Commercial Overlay
• Residential FAR up to 6.02 under R8 zoning – allows building ~6× the lot area (~12,000SF)
• C1-5 overlay Commercial FAR of 2.0 within R8, equating to combined FAR equal to the higher of the two (6.02)
Buildable Area: Over 12,000SF of potential space – ideal for expansion, redevelopment, or mixed-use conversion.
Key Highlights
• Turn-key income: Immediate cash flow with long-term tenants (+ retail), plus two vacant units for flexible use
• Tax-efficient ownership: Annual tax burden only ~$96K, low compared to income
• Transferrable development rights: Rare Manhattan plot with substantial upside under current zoning
• Midtown core location: Minutes from Broadway, Times Square, transit, dining, and entertainment
Current Configuration: 4 Residential Units + 1 Retail Storefront Annual Gross Income: $465,000 2024 Property Taxes: Only $96,000 Lot Size: 20×100.42ft Building Footprint: 20×50ft (approx. 3,540SF, 3 stories) Development & Upside Potential Zoning: R8 (High-Density Residential) with C1-5 Commercial Overlay • Residential FAR up to 6.02 under R8 zoning – allows building ~6× the lot area (~12,000SF) • C1-5 overlay Commercial FAR of 2.0 within R8, equating to combined FAR equal to the higher of the two (6.02) Buildable Area: Over 12,000SF of potential space – ideal for expansion, redevelopment, or mixed-use conversion. Key Highlights • Turn-key income: Immediate cash flow with long-term tenants (+ retail), plus two vacant units for flexible use • Tax-efficient ownership: Annual tax burden only ~$96K, low compared to income • Transferrable development rights: Rare Manhattan plot with substantial upside under current zoning • Midtown core location: Minutes from Broadway, Times Square, transit, dining, and entertainment
Current Configuration 4 Residential Units 1 Retail Storefront Annual Gross Income 465, 000 2024 Property Taxes Only 96, 000 Lot Size 20 100.
DescriptionCurrent Configuration: 4 Residential Units + 1 Retail Storefront
Annual Gross Income: $465,000
2024 Property Taxes: Only $96,000
Lot Size: 20×100.42ft
Building Footprint: 20×50ft (approx. 3,540SF, 3 stories)
Development & Upside Potential
Zoning: R8 (High-Density Residential) with C1-5 Commercial Overlay
• Residential FAR up to 6.02 under R8 zoning – allows building ~6× the lot area (~12,000SF)
• C1-5 overlay Commercial FAR of 2.0 within R8, equating to combined FAR equal to the higher of the two (6.02)
Buildable Area: Over 12,000SF of potential space – ideal for expansion, redevelopment, or mixed-use conversion.
Key Highlights
• Turn-key income: Immediate cash flow with long-term tenants (+ retail), plus two vacant units for flexible use
• Tax-efficient ownership: Annual tax burden only ~$96K, low compared to income
• Transferrable development rights: Rare Manhattan plot with substantial upside under current zoning
• Midtown core location: Minutes from Broadway, Times Square, transit, dining, and entertainment
Current Configuration: 4 Residential Units + 1 Retail Storefront Annual Gross Income: $465,000 2024 Property Taxes: Only $96,000 Lot Size: 20×100.42ft Building Footprint: 20×50ft (approx. 3,540SF, 3 stories) Development & Upside Potential Zoning: R8 (High-Density Residential) with C1-5 Commercial Overlay • Residential FAR up to 6.02 under R8 zoning – allows building ~6× the lot area (~12,000SF) • C1-5 overlay Commercial FAR of 2.0 within R8, equating to combined FAR equal to the higher of the two (6.02) Buildable Area: Over 12,000SF of potential space – ideal for expansion, redevelopment, or mixed-use conversion. Key Highlights • Turn-key income: Immediate cash flow with long-term tenants (+ retail), plus two vacant units for flexible use • Tax-efficient ownership: Annual tax burden only ~$96K, low compared to income • Transferrable development rights: Rare Manhattan plot with substantial upside under current zoning • Midtown core location: Minutes from Broadway, Times Square, transit, dining, and entertainment
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
