Multi-family
Screenshot
For Sale
Multi-family
244, West 48th Street, Manhattan Community Board 5, Manhattan, New York County, City of New York, New York, 10036, United States
Description
Prime Investment Opportunity at 244 West 48th Street, New York, NY, 10036
Take advantage of an exceptional opportunity to acquire a premium retail restaurant property in the heart of Manhattan’s bustling Central Business District (CBD). Located at 244 West 48th Street, this property offers investors a steady income stream and potential for long-term value appreciation in a high-demand location.
Property Details:
- Asking Price: $10,000,000 ($1,458.36/SF)
- Cap Rate: 4.90%
- Property Type: 3-Star Retail Restaurant
- Location: Central Business District (CBD)
- Gross Leasable Area (GLA): 6,857 sq. ft.
- Stories: 5
- Typical Floor Size: 1,700 sq. ft.
- Class: C
- Construction: Masonry
- Docks: None
Investment Highlights:
- Prime location in Midtown Manhattan, surrounded by vibrant dining, entertainment, and retail establishments, ensuring consistent foot traffic.
- 5-story masonry construction with flexible space, ideal for retail or restaurant operations.
- Attractive 4.90% cap rate, providing strong income potential for investors.
- Situated in a thriving commercial corridor, minutes from major landmarks, transportation hubs, and dense residential neighborhoods.
- No docks, reducing operational complexities while maintaining a focus on retail or dining tenants.
This property is an excellent fit for investors seeking a stable, income-generating asset in one of New York City’s most dynamic and desirable neighborhoods.
Contact us today to learn more or schedule a private tour of this unique property!
