Introducing 408 West 46th Street, New York, NY 10036—an exceptional investment opportunity located in the heart of Manhattan’s Central Business District. This 7,296 sq. ft. 2-star mid-rise apartment building offers a prime space for investors looking to capitalize on a desirable location in one of the city’s most sought-after neighborhoods.
Property Overview:
Address: 408 West 46th Street, New York, NY 10036
Price: $7,600,000 ($1,266,667/Unit)
Sale Type: Investment
Type: 2-Star Mid-Rise Apartments
Units: 6
Stories: 5
Class: C
GBA: 7,296 sq. ft.
Typical Floor: 1,459 sq. ft.
# of Buildings: 1
Units per Acre: 100/AC
Rent Type: Market
Read More
Key Features:
- Prime Central Location: Nestled in the vibrant Central Business District, 408 West 46th Street offers exceptional proximity to New York City’s most iconic landmarks, including Times Square, the Theater District, and the bustling Midtown area. Its location guarantees steady demand from both residential tenants and commercial opportunities, ensuring high visibility and traffic.
- Investment Potential: With 6 spacious units spread across 5 stories, this property offers solid potential for consistent rental income. The market rent structure makes this an attractive option for investors seeking to maximize return on investment while benefiting from long-term appreciation in this thriving neighborhood.
- Generous Floor Plans: Each of the five floors boasts approximately 1,459 sq. ft. of space, offering ample room for tenants and providing flexibility for potential interior modifications to further enhance the property’s appeal.
- Affordable Class C Building: As a Class C building, this property offers an affordable investment opportunity compared to newer, more prestigious buildings in the area, making it an attractive option for investors looking to enter the competitive New York City real estate market at a reasonable price.
- Solid Construction & Stability: Featuring masonry construction, this building offers durable, long-term stability with low maintenance costs, providing a solid foundation for years of investment.
- Excellent Accessibility: 408 West 46th Street is well-served by a wide range of transportation options, including subway lines and bus routes, ensuring convenience for tenants and visitors alike. Its location also offers immense future potential as the area continues to evolve and attract both residential and commercial interest.
Conclusion:
408 West 46th Street presents an outstanding opportunity for investors seeking a solid real estate asset in Manhattan’s dynamic Central Business District. With its strategic location, solid cap rate, and flexibility in use, this 2-star mid-rise building provides both immediate returns and long-term growth potential. Don’t miss out on the chance to secure this valuable investment in one of New York City’s most sought-after neighborhoods!
