Investment Sale – 544 W 49th Street, New York, NY 10019
Asking Price: $2,395,000
Price per Unit: ≈ $119,750
Sale Type: Investment
Property Type: 3-Star Mid-Rise Apartments
Location: Midtown West / Hell’s Kitchen (10019)
Availability: Immediate
Property Overview
544 W 49th Street presents a rare 20-unit multifamily investment opportunity in the heart of Midtown West / Hell’s Kitchen. Built in 1909 with masonry construction, the property offers a total of 11,740 SF across five stories.
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The asset contains a mix of market and rent-stabilized units, providing investors with stable in-place income and long-term value-add potential through unit turnover, upgrades, or redevelopment. Its location in a high-demand Manhattan rental market ensures consistent occupancy and rental growth prospects.
Key Features
- Total Units: 20
- Stories: 5
- Gross Building Area (GBA): 11,740 SF
- Typical Floor Size: 1,760 SF
- Price per Unit: ≈ $119,750
- Building Height: 62 ft
- Construction: Masonry
- Metering: Master-metered utilities
- Class: B (3-Star Mid-Rise Apartments)
- Year Built: 1909
Financial Profile
- Asking Price: $2,395,000
- Market Segment: All
- Rent Type: Market / Affordable mix
- Affordable Component: Rent Stabilized units
- Units per Area: 333 per acre
Market Profile
- Location Advantage: Positioned in Midtown West, steps from Hell’s Kitchen dining, Hudson Yards, and the Theater District. Strong demand from renters in one of NYC’s most dynamic neighborhoods.
- Transit Access: Close to 50th Street (C/E), 59th Street–Columbus Circle (1/A/B/C/D), and bus routes.
- Neighborhood Demand: Driven by young professionals, creatives, and service workers seeking Midtown West apartments.
- Competitive Advantage: Rare 20-unit building under $2.5M in Midtown, offering a mix of stable cash flow and upside potential.
Summary
The 20-unit, 11,740 SF multifamily property at 544 W 49th Street, New York, NY 10019 is offered at $2,395,000 (~$119,750/unit). With its Midtown West location, rent-stabilized stability, and redevelopment potential, this property represents a strong investment opportunity for va
