Property Description for 765-767 1st Ave, New York, NY, 10017
Investment Opportunity in Midtown Manhattan
Address: 765-767 1st Ave, New York, NY, 10017
Price: $36,000,000 ($1,090,909/Unit)
Type: 2-Star Mid-Rise Apartments
Units: 33
Stories: 5
Gross Building Area (GBA): 15,455 SF
Typical Floor Area: 3,091 SF
Class: B
Location: Central Business District (CBD)
Overview:
Situated in the heart of Midtown Manhattan, this 5-story mid-rise apartment building presents a unique investment opportunity in a prime New York City location. With 33 market-rate units and a total gross building area of 15,455 SF, this property offers solid rental income potential and long-term value. Priced at $36,000,000, it is an attractive prospect for investors looking to expand their portfolio in one of the world’s most dynamic markets.
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Key Features:
Prime Midtown Location:
Positioned on 1st Avenue in the Central Business District, this property benefits from proximity to renowned landmarks, corporate offices, and vibrant neighborhoods, attracting a diverse tenant base.
Steady Demand:
With 33 market-rate units, this property ensures reliable rental income in a high-demand market, catering to professionals and families drawn to Midtown’s amenities and convenience.
Efficient Layout:
The building features 3,091 SF typical floor plans, offering practical layouts for tenants while maximizing the building’s utility.
Transit Accessibility:
Located near major transportation hubs, including Grand Central Terminal, and serviced by multiple subway lines and bus routes, the property provides unmatched connectivity for residents.
Development Potential:
Given its strategic location and zoning, the property may offer potential for future redevelopment or upgrades, enhancing its long-term value.
Highlights:
This Class B mid-rise apartment building stands as a strong investment in Midtown Manhattan’s thriving real estate market. With a total of 33 units and ample square footage, it appeals to both current investors and those with a vision for future development. The combination of its prime location, solid infrastructure, and market-rate units positions it as a standout opportunity in one of New York City’s most sought-after areas.
Seize this opportunity to acquire a significant asset in a world-class market.
