This property is Off-Market

234 West 56th St
New York, NY 10019 ·

10,000 SF · Office For Sale

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Prime Midtown Office Building

Price N/A Property Use Type Investment
Building Size 10,000 SF Cap Rate 4%
Property Type Office Building Class A
Property Sub-type Office Building Tenancy Multiple
Listing ID: 17300296 Date Created: 08/20/2011 Last Updated: 12/20/2012

Description

INCOME: Rent- $665,087

Pass-through (tax & sprinkler)- $23,000

Total- $688,552

EXPENSES: Tax- $34,108

Water- Paid by tenant

Insurance- $5,110

Electric- $3,051

Elevator Contract- $3, 576

Gas- $2,090

Reserve- $1,500

Total- $49,435

NET INCOME- $639,116

Recent improvments to this building include: pointing, steam cleaning, new roof, and installed refurbished boiler. Newly renovated entrance, lobby, new sidewalk, new elevator, fourth floor can be delivered vacant for owner/operator.

This building is adjacent to new 50,000 sq ft dvelopment that includes two banks on the ground level, world headquarters of Random House plus 136 condo apartments. It is also three blocks from the Time Warner building in Columbus Circle and one block form the new world HQ for Hearst Corp.

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234 West 56th St, New York, NY 10019 (New York County)

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