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246 E 51st St
New York, NY 10022
Multifamily Property For Sale
·
25 Units
Investment Highlights
- Prime Midtown East location
- Strong residential presence
- Turtle Bay neighborhood
- Excellent transit access
Executive Summary
CBRE, as exclusive agent, is pleased to offer for sale four co-op residential units and a master lease
on four commercial units at 246 East 51st Street (the “Property”). The four residential units are
held as unsold shares in the cooperative. The units sit within a six-story mixed-use walk-up in Turtle
Bay, an established Midtown East neighborhood. Built in 1926 and last altered in 1988, the building
totals roughly 15,210 above grade gross square feet across 25 units. The four residential sponsor
units and four commercial units offered here let a buyer acquire both residential ownership and
in-place retail income in a single transaction
on four commercial units at 246 East 51st Street (the “Property”). The four residential units are
held as unsold shares in the cooperative. The units sit within a six-story mixed-use walk-up in Turtle
Bay, an established Midtown East neighborhood. Built in 1926 and last altered in 1988, the building
totals roughly 15,210 above grade gross square feet across 25 units. The four residential sponsor
units and four commercial units offered here let a buyer acquire both residential ownership and
in-place retail income in a single transaction
Property Facts
| Price Per Unit | $170,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 5.77% | Building Size | 15,210 SF |
| No. Units | 25 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built/Renovated | 1926/1983 |
| Apartment Style | Mid-Rise | ||
| Zoning | R8B - High density residential district | ||
| Price Per Unit | $170,000 |
| Sale Type | Investment |
| Cap Rate | 5.77% |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 15,210 SF |
| Average Occupancy | 100% |
| No. Stories | 6 |
| Year Built/Renovated | 1926/1983 |
| Zoning | R8B - High density residential district |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 25 | - | - |
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,916,810 | |
| Land Assessment | $2,913,050 | Total Assessment | $6,829,860 |
Property Taxes
Parcel Numbers
Land Assessment
$2,913,050
Improvements Assessment
$3,916,810
Total Assessment
$6,829,860
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