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402 W 40th St 4,337 SF 100% Leased Office Building New York, NY 10018 $3,750,000 ($864.65/SF)
INVESTMENT HIGHLIGHTS
- Delivered Vacant
- Free Market
EXECUTIVE SUMMARY
Investment Property Realty Group (IPRG) is pleased to present 402 West 40th Street, a prime mixed-use property located in the Midtown West neighborhood of Manhattan.
The subject property is positioned between Ninth and Tenth Avenues, just steps from Times Square, Hudson Yards, and the Port Authority Bus Terminal. It is currently configured as one office and one residential unit, totaling approximately 4,337 square feet. The property presents significant redevelopment and value-add potential in one of Manhattan’s highest-density corridors.
This opportunity is further enhanced by strong transit access—directly connected to 15+ subway lines, the bus terminal, and the Lincoln Tunnel. The area is poised for long-term appreciation, driven by the $10 billion Port Authority Bus Terminal redevelopment project, which will deliver new office towers, retail concourses, and public spaces.
402 West 40th Street represents a rare opportunity to acquire a Midtown West asset with residential, office, and development potential in one of Manhattan’s most sought-after neighborhoods.
The subject property is positioned between Ninth and Tenth Avenues, just steps from Times Square, Hudson Yards, and the Port Authority Bus Terminal. It is currently configured as one office and one residential unit, totaling approximately 4,337 square feet. The property presents significant redevelopment and value-add potential in one of Manhattan’s highest-density corridors.
This opportunity is further enhanced by strong transit access—directly connected to 15+ subway lines, the bus terminal, and the Lincoln Tunnel. The area is poised for long-term appreciation, driven by the $10 billion Port Authority Bus Terminal redevelopment project, which will deliver new office towers, retail concourses, and public spaces.
402 West 40th Street represents a rare opportunity to acquire a Midtown West asset with residential, office, and development potential in one of Manhattan’s most sought-after neighborhoods.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
High Vacancy Property
Property Type
Office
Property Subtype
Building Size
4,337 SF
Building Class
C
Year Built/Renovated
1939/2001
Price
$3,750,000
Price Per SF
$864.65
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,169 SF
Building FAR
2.00
Lot Size
0.05 AC
Zoning
C1-7A; HY - C1-7A (R8A equiv.) Hudson Yards District (HY)
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Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 0737-0040 | Improvements Assessment | $61,591 |
| Land Assessment | $57,599 | Total Assessment | $119,190 |
PROPERTY TAXES
Parcel Number
0737-0040
Land Assessment
$57,599
Improvements Assessment
$61,591
Total Assessment
$119,190
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402 W 40th St
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