302 E 45th St
New York, NY 10017
Multifamily Property For Sale · 10 Units

302 East 45th Street presents a rare opportunity to acquire a high-yield, mixed-use asset in the heart of Turtle Bay, ideally positioned between 1st and 2nd Avenue. This 20’ x 100’ building spans approximately 6,680 SF and features 10 total units, including a full-floor retail/commercial space with an additional 1,000 SF cellar and 9 hotel rooms above.
Offered at $7,400,000, the property delivers immediate in-place cash flow with a 7.2% cap rate and current NOI of $518,625, with upside to a 7.4% pro forma cap rate. The rent roll includes stable income from a ground-floor commercial tenant and a hotel operator leasing the 9 guest rooms, with both leases featuring 3% annual increases.
Tenants handle interior repairs and maintenance, helping support an efficient expense structure. With strong income, built-in escalations, and a prime Midtown East location near major business, diplomatic, and hospitality corridors, this is an exceptional investment opportunity for buyers seeking durable returns and long-term value in Manhattan.