Multi-family

Midtown West Multifamily Investment Opportunity – Fully Occupied Income-Producing Asset
Address: 351 West 47th Street, New York, NY 10036
Asking Price: $5,500,000 ($550,000/unit)
Cap Rate: 4.00%
Sale Type: Investment
Building Type: 2-Star Mid-Rise Apartments
Location: Midtown West / Hell’s Kitchen – Manhattan CBD

Property Overview:
351 West 47th Street presents a rare opportunity to acquire a stable, income-generating multifamily property in the heart of Midtown West. This five-story masonry building contains 10 market-rate residential units totaling 11,250 SF. With a prime location in Hell’s Kitchen, close to Times Square, Hudson Yards, and major transportation hubs, the property benefits from strong tenant demand and consistent occupancy.

Key Details:

• Units: 10 market-rate apartments
• Stories: 5-story mid-rise
• Gross Building Area (GBA): 11,250 SF
• Typical Floor Size: 1,650 SF
• Building Height: 55′
• Lot & Density: 200 units/acre
• Construction: Masonry
• Year Built: — (original date not provided, estimated early 20th century)
• Rent Type: Market
• Ownership: Single building

Investment Highlights:

• Fully occupied with market-rate units, providing steady cash flow
• Located in a vibrant residential and cultural district, popular with young professionals and long-term renters
• Proximity to 42nd Street–Times Square, Port Authority, A/C/E subway lines, and Penn Station
• Surrounded by an array of dining, entertainment, and retail options
• Strong upside potential with continued area growth and potential future rent increases

Financial Overview:

• Asking Price: $5,500,000
• Cap Rate: 4.00%
• Price/Unit: $550,000
• Gross Building Area Price: ~$489/SF (based on 11,250 SF)
• Typical NOI: $244,400/year (estimated from cap rate and price)

Conclusion:
351 West 47th Street offers investors a well-located, stable, and income-producing multifamily asset in one of Manhattan’s most dynamic neighborhoods. With its solid in-place income, quality tenancy, and proximity to key commercial and entertainment hubs, this property is ideal for long-term hold investors seeking steady returns with growth potential.

Contact us to request rent roll, expense statements, and to schedule a private tour.