Multi-family

Introducing a premium investment opportunity at 62 West 22nd Street, part of an exclusive portfolio sale in New York City’s thriving Flatiron District. This 3-star retail/office property spans two stories and offers a total gross leasable area (GLA) of 3,000 square feet. Listed for $17,500,000 at $1,536.03 per square foot, the property offers investors a 5.56% cap rate, making it an appealing choice for those seeking income potential in a high-demand location.

Property Details:

• Address: 62 West 22nd Street, New York, NY 10010
• Sale Price: $17,500,000 ($1,536.03 per SF)
• Cap Rate: 5.56%
• Sale Type: Investment
• Property Type: 3-Star Retail/Office Storefront
• Location: Central Business District (CBD), Flatiron District, Manhattan
• Gross Leasable Area (GLA): 3,000 SF
• Stories: 2
• Typical Floor Area: 1,450 SF
• Building Class: Class C
• Construction Type: Masonry

Investment Highlights:

• Prime Flatiron CBD Location: Located in the bustling Flatiron District, this property benefits from high visibility in a central business area with a strong retail and office presence. Known for its vibrant mix of businesses, restaurants, and residential units, this area experiences heavy foot traffic and provides excellent access to public transit, attracting both office tenants and shoppers.
• Retail and Office Versatility: The 3,000-square-foot space is designed to support both retail and office tenants, offering flexibility and multiple income streams. The storefront retail space on the ground floor is ideal for businesses seeking a high-traffic location, while the upper level can cater to office tenants looking for a central Manhattan address.
• Attractive Cap Rate and Income Potential: With a 5.56% cap rate, this property presents a competitive return on investment. Its Class C designation and masonry construction also allow for potential upgrades, which could further increase its rental income and long-term value, making it an appealing addition to an investor’s portfolio.

Conclusion:

62 West 22nd Street offers a standout investment opportunity in the heart of Manhattan’s Flatiron District. With a prime location, flexible retail/office layout, and strong cap rate, this property is ideal for investors aiming to acquire a versatile asset with consistent income potential in one of New York City’s most desirable and lively neighborhoods.