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224-226 E 48th St
New York, NY 10017
80% Free-Market Apartment Building in Midtown · Multifamily Property For Sale
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24 Units
Investment Highlights
- VALUE-ADD OPPORTUNITY: +80% free market units and tremendous upside in rents
- HALF-MILE WALK TO THE UNITED NATIONS HEADQUARTERS AND DIPLOMATS ROW
- IDEAL REPOSITIONING OPPORTUNITY: potential conversion to condominiums, corporate, mission, or furnished housing
- ACCESSIBILITY: short walk to Grand Central Terminal, 4, 5, 6, 7, E, M subways & quick access to Queens Midtown Tunnel & Queensboro Bridge
- DESIRABLE TURTLE BAY LOCATION: quiet, tree-lines streets and steps to countless vibrant restaurants and bars
- UNIT BREAKDOWN: 3 rent stabilized units, 1 rent controlled unit, and 20 free market units
Property Facts
| No. Units | 24 | Lot Size | 0.09 AC |
| Property Type | Multifamily | Building Size | 15,402 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Hi-Rise | No. Stories | 6 |
| Building Class | C | Year Built/Renovated | 1928/1987 |
| Zoning | R8B | ||
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Hi-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 15,402 SF |
| Average Occupancy | 100% |
| No. Stories | 6 |
| Year Built/Renovated | 1928/1987 |
| Zoning | R8B |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 25 | - | 300 |
Property Taxes
| Parcel Number | 1321-0038 | Improvements Assessment | $1,207,530 |
| Land Assessment | $388,350 | Total Assessment | $1,595,880 |
Property Taxes
Parcel Number
1321-0038
Land Assessment
$388,350
Improvements Assessment
$1,207,530
Total Assessment
$1,595,880
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