For Sale: Mixed-Income Multifamily Investment – 414 West 42nd Street, New York, NY 10036
Asking Price: $4,750,000
Price/Unit: $339,286
GBA: 9,590 SF
Units: 14 Total (5 Rent-Stabilized)
Stories: 5
Building Class: C
Building Type: 2-Star Mid-Rise Apartments
Sale Type: Investment
Location: Midtown West / Central Business District (CBD)
Affordable Type: Rent Stabilized
Status: Active
Property Overview:
414 West 42nd Street presents a compelling opportunity to acquire a 14-unit multifamily property in the heart of Midtown West, just steps from Times Square, Hudson Yards, and the Port Authority Bus Terminal. This five-story mid-rise offers a total gross building area of 9,590 SF, with a mix of market-rate and rent-stabilized units—providing immediate in-place cash flow with long-term upside potential.
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The building includes 5 rent-stabilized units and 9 market-rate units, giving investors the benefit of both income stability and value-add opportunity through future unit turnover. Located in a high-demand, transit-rich corridor, the asset is ideal for core-plus or value-driven multifamily investors.
Key Features:
- Prime Midtown West location with access to 1/2/3, A/C/E, N/Q/R/W, and 7 trains
- 14 residential units across 5 stories
- 5 rent-stabilized units providing regulated income stability
- Strong repositioning potential through market-rate turnover
- Solid brick façade and efficient floorplates (~1,687 SF per floor)
Investment Highlights:
- Asking Price: $4,750,000
- Price/Unit: $339,286
- GBA: 9,590 SF
- Units: 14 (5 Rent-Stabilized, 9 Market-Rate)
- Class C asset with long-term repositioning upside
- Well-located in Manhattan’s CBD, near major employment and tourism centers
Conclusion:
414 West 42nd Street offers a rare opportunity to acquire a mid-sized multifamily asset in a rapidly evolving Midtown West submarket. With a blend of stabilized income and market-rate flexibility, this investment is well-positioned for long-term value appreciation and stable cash flow in one of NYC’s most transit-connected and resilient neighborhoods.
Contact us today for the offering memorandum, rent roll, and to schedule a property tour.
