Multi-family

An exceptional opportunity to acquire a mid-rise apartment building in the heart of Midtown Manhattan. This six-unit property offers investors a chance to own a piece of prime real estate near some of New York City’s most prestigious landmarks, blending stability and potential for growth in one of the city’s most coveted neighborhoods.

Property Overview:

• Address: 24 West 56th Street, New York, NY 10019
• Asking Price: $11,100,000 ($1,850,000 per unit)
• Sale Type: Investment Opportunity
• Property Type: 2-Star Mid-Rise Apartments
• Location: Central Business District (CBD), Midtown Manhattan
• Units: 6
• Stories: 5
• Class: C
• Gross Building Area (GBA): 8,009 sq. ft.
• Typical Floor Area: 1,602 sq. ft.
• Number of Buildings: 1
• Units per Acre: 120/AC
• Market Segment: All
• Rent Type: Market

Key Features:

Prestigious Midtown Location:

Located steps away from Fifth Avenue, Central Park, and renowned cultural attractions such as the Museum of Modern Art, this property offers unparalleled access to New York City’s finest amenities. Its prime address ensures strong tenant demand and significant appreciation potential.

Boutique Mid-Rise Appeal:

With only six exclusive units spread across five stories, this boutique property provides a high degree of privacy and exclusivity, appealing to discerning tenants seeking residence in a premier neighborhood.

Efficient Building Layout:

The building’s typical floor size of 1,602 sq. ft. allows for spacious apartments, perfect for market-rate tenants. Its efficient design enhances both the living experience and long-term management viability.

Strong Investment Potential:

This Class C mid-rise represents a rare opportunity to enter Midtown Manhattan’s lucrative apartment market. The property’s six-unit configuration and market-rate rental structure make it an attractive asset for investors seeking stable returns and long-term value appreciation.

Conclusion:

24 West 56th Street offers a rare chance to own an investment property in one of Manhattan’s most desirable neighborhoods. Its prime location, efficient layout, and boutique appeal make it a standout choice for investors aiming to capitalize on Midtown’s dynamic rental market. Whether you are seeking steady rental income or long-term appreciation, this property delivers value and prestige in equal measure.