Multi-family

Rent-Controlled Multifamily Investment in Hell’s Kitchen – 453–455 West 50th Street

Address: 453–455 West 50th Street, New York, NY, 10019
Asking Price: $4,000,000 ($285,714/unit)
Cap Rate: 5.24%
Sale Type: Investment Sale
Type: 3-Star Mid-Rise Apartments
Location: Urban – Central Business District (CBD) / Hell’s Kitchen
Units: 14
Stories: 4
Building Class: B
Gross Building Area (GBA): 13,312 SF
Typical Floor Plate: 2,928 SF
Building Height: 46 ft
Buildings: 1
Units per Acre: 233/AC
Rent Type: Affordable
Affordable Type: Rent Controlled
Market Segment: All

Property Overview:

453–455 West 50th Street offers a rare opportunity to acquire a 14-unit, rent-controlled multifamily asset in the heart of Manhattan’s Hell’s Kitchen. This well-maintained, 4-story mid-rise building spans over 13,000 SF and provides investors with a long-term, stable income stream and substantial future upside through asset repositioning or regulatory turnover.

With a favorable cap rate of 5.24% and a strong price-per-unit basis, the property serves as a strategic foothold in one of Manhattan’s most desirable and continually evolving neighborhoods.

Investment Highlights:

✔ Price: $4M or $285,714 per unit – strong basis for core Manhattan multifamily
✔ Cap Rate: 5.24% – stable cash flow from rent-controlled units
✔ Building Size: 13,312 SF across four stories with a 2,928 SF average floor plate
✔ Zoning & Layout: Efficient layout with 14 apartments across a 46-foot-tall building
✔ Affordable Asset: All units governed by rent control regulations, offering security and long-term value preservation
✔ Construction Quality: 3-Star, Class B asset with enduring masonry structure

Location Advantages:

✔ Situated in Hell’s Kitchen, steps from 9th Avenue dining, Broadway theaters, and Hudson Yards
✔ Close proximity to the C, E, and 1 subway lines as well as the Port Authority Bus Terminal
✔ High-demand rental corridor with ongoing development and gentrification

Conclusion:

453–455 West 50th Street presents a rare opportunity to acquire a stabilized, rent-controlled multifamily asset in the heart of Manhattan. With strong cash flow, solid long-term fundamentals, and a highly sought-after location, this property is a strategic investment for buyers focused on preservation, income stability, and future growth.

Contact us today for rent roll, financials, or to schedule a confidential property tour.