For Sale – 447 W 47th Street, New York, NY 10036

Asking Price: $6,850,000 ($685,000/Unit)
Cap Rate: 5.44%
Property Type: 3-Star Mid-Rise Apartments
Sale Type: Investment
Location: Midtown West (CBD), Manhattan, New York

Property Overview

447 W 47th Street presents a 10-unit multifamily investment opportunity in the heart of Midtown West. Built as a 4-story mid-rise Class B apartment building, the property totals 7,686 SF with an average unit size of 797 SF. With market-rate rental units and strong occupancy potential, this asset provides stable income and long-term appreciation in one of Manhattan’s most supply-constrained submarkets.

The property sits in the Central Business District (CBD), surrounded by cultural institutions, restaurants, retail, and major transit hubs. This location ensures continuous demand from both working professionals and long-term renters.

Key Features

• Asking Price: $6,850,000 ($685,000/Unit)
• Cap Rate: 5.44%
• Gross Building Area (GBA): 7,686 SF
• Avg. Unit Size: 797 SF
• Total Units: 10 (Market Rate)
• Stories: 4
• Typical Floor Size: 1,922 SF
• Building Class: B – 3-Star Mid-Rise Apartments
• # of Buildings: 1
• Density: 250 Units per Acre
• Market Segment: All / Market-Rate

Market Profile

• Location Advantage: Midtown West is a core Manhattan submarket with proximity to Times Square, Hudson Yards, and Broadway. High transit connectivity via Port Authority, Penn Station, and multiple subway lines ensures consistent rental demand.
• Lifestyle Appeal: The neighborhood attracts a mix of young professionals, creatives, and families due to its blend of residential amenities, cultural venues, and nightlife.
• Competitive Advantage: With a 5.44% cap rate in Manhattan’s tight multifamily market, this property represents a compelling income-producing investment with upside potential from rent growth and neighborhood development.

Summary

The 10-unit, 7,686 SF mid-rise apartment building at 447 W 47th Street, New York, NY 10036, priced at $6,850,000, offers a stable multifamily investment with a 5.44% cap rate in Manhattan’s Central Business District. With market-rate units, solid location fundamentals, and long-term growth potential, it stands out as a strong opportunity for investors seeking exposure to New York’s multifamily sector.