Introducing 362 West 53rd Street, New York, NY 10019—an exceptional investment opportunity in the heart of Midtown Manhattan’s Central Business District (CBD). This 3-Star retail storefront property with residential space offers a versatile layout, making it ideal for a variety of business and residential uses. With a competitive price and strong potential for returns, this property is a standout in one of New York City’s most high-demand neighborhoods.
Property Overview:
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- Address: 362 West 53rd Street, New York, NY 10019
- For Sale Price: $7,750,000 ($2,583.33/SF)
- Cap Rate: 3.80%
- Sale Type: Investment
- Property Type: 3-Star Retail Storefront / Retail/Residential
- Location: Central Business District (CBD)
- Gross Leasable Area (GLA): 3,000 sq. ft.
- Stories: 6
- Typical Floor: 500 sq. ft.
- Class: B
- Construction: Masonry
Key Features:
- Prime Midtown Location: This property is situated in the Central Business District, one of the most vibrant and sought-after commercial areas in Manhattan. The location offers excellent accessibility to offices, cultural landmarks, and a wide array of dining and retail options, providing high visibility and foot traffic. The proximity to public transportation makes it a convenient and attractive destination for both businesses and residents.
- Flexible Retail and Residential Space: With 3,000 sq. ft. spread across six stories, this building features a mix of retail and residential space, allowing for a wide range of uses. The retail storefront on the ground level is ideal for businesses, while the residential floors above offer additional potential for rental income or owner-occupancy. The typical floor size of 500 sq. ft. allows for flexible use, whether for retail, office, or residential purposes.
- Investment Potential: Priced at $7,750,000 with a cap rate of 3.80%, this property presents a strong opportunity for investors seeking a high-quality asset in one of New York City’s most desirable areas. The combination of retail and residential space increases the potential for stable cash flow, while the property’s prime location ensures it remains in high demand for tenants and businesses alike.
- Class B Building with Durable Construction: This masonry construction building offers solid structural integrity and longevity. The Class B classification, combined with the building’s attractive features and location, makes it a competitive option for businesses or residents looking for a well-maintained space with long-term value.
Conclusion:
362 West 53rd Street is an outstanding opportunity for investors looking to secure a mixed-use property in Midtown Manhattan. With its prime CBD location, flexible layout, and solid cap rate, this property offers substantial potential for rental income and long-term appreciation. Whether you are seeking a retail storefront, residential space, or a combination of both, this property provides the versatility and market appeal needed to succeed in one of New York City’s most coveted commercial areas. Don’t miss out on this exceptional investment opportunity!
