146-148 West 28th Street, New York, NY, 10001
For Sale: $25,000,000 ($2,083,333/Unit)
Cap Rate: 4.74%
Property Overview:
An exceptional investment opportunity in the heart of Manhattan’s Central Business District (CBD). Located at 146-148 West 28th Street, this 3-Star Hi-Rise Apartment Building is a seven-story property with a total Gross Building Area (GBA) of 28,250 square feet. This Class C building offers significant upside potential for investors in one of the most sought-after markets in New York City.
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Key Details:
- Units: 12 (Market Rent)
- Stories: 7
- Typical Floor Size: 4,036 SF
- Units per Area: 109/AC
- Building Count: 1
- Market Segment: All
Investment Highlights:
- Prime Location: Situated in Manhattan’s CBD, this property benefits from excellent transportation links, proximity to major retail corridors, and a dynamic urban environment.
- Steady Income Stream: With a 4.74% Cap Rate, this asset delivers consistent returns in a strong rental market.
- Value-Add Potential: Renovation or repositioning could enhance rents and significantly increase the property’s NOI.
- Large Floor Plans: Spacious units with flexible layouts cater to current market demands for premium living spaces.
Summary:
This is an ideal acquisition for investors seeking a stable, income-producing asset with opportunities for future growth. Priced at $25,000,000, the property offers long-term value with its strategic location and robust market fundamentals.
For more details or to schedule a property tour, please contact us today. Don’t miss this chance to invest in one of Manhattan’s rising residential assets!
