Offering a fantastic investment opportunity in the heart of Midtown Manhattan, 43 West 54th Street is a 5-story, Class C, 2-star mid-rise apartment building with 7 residential units. Priced at $9,800,000 ($1,400,000 per unit) with a cap rate of 6.49%, this property is ideal for investors seeking a stable income-producing asset in one of New York City’s most sought-after neighborhoods.
Property Overview:
- Address: 43 West 54th Street, New York, NY 10019
- Sale Price: $9,800,000 ($1,400,000 per unit)
- Cap Rate: 6.49%
- Sale Type: Investment
- Property Type: 2-Star Mid-Rise Apartments
- Location: Midtown Manhattan (CBD)
- Units: 7
- Stories: 5
- Class: C
- Gross Building Area (GBA): 5,802 SF
- Typical Floor Size: 1,160 SF
- Number of Buildings: 1
- Units per Acre: 175/AC
- Rent Type: Market
Key Features:
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- Prime Midtown Location: Situated in the heart of Midtown Manhattan, 43 West 54th Street offers exceptional access to high-demand areas including office buildings, luxury retail, cultural institutions, and top-tier restaurants. The property is well-positioned to take advantage of the area’s popularity and continued demand for residential rentals.
- Stable Income-Generating Investment: With 7 residential units spread across 5 stories, the property offers a market rent structure that provides a stable income stream. The building’s attractive cap rate of 6.49% makes it a valuable opportunity for investors looking for consistent returns in an established market.
- Well-Maintained, Class C Asset: The property is classified as a Class C building, offering a more affordable investment option compared to higher-class properties in the area. With 5,802 square feet of total space, including 1,160 square feet per typical floor, the building offers a manageable size while still providing significant rental income potential.
- Investment Potential: Given its location in Midtown Manhattan’s Central Business District (CBD), the property benefits from strong demand in a competitive rental market. The building’s proximity to transportation hubs, offices, and the luxury residential market makes it an attractive option for both long-term capital appreciation and rental income.
Conclusion:
43 West 54th Street represents a unique investment opportunity for buyers seeking a well-positioned property in Midtown Manhattan with strong rental income potential and room for long-term growth. Offering 7 units and a favorable cap rate, this 5-story building in a prime location is a solid addition to any investment portfolio.
