Marcus & Millichap is pleased to offer the following opportunity located in the heart of a booming neighborhood, Midtown West. 459 West 43rd Street is located on the north side of West 43rd Street between Ninth Avenue and Tenth Avenue, and contains a gross square footage of 9,550. There are two structures on the property: a front building that is approximately 25' x 47' and a rear carriage house that is built 25' x 29' . The lot is 25' x 100' . (Block: 1053 Lot:6). The property is zoned R8.
THE OPPORTUNITY
92% Free Market. Twelve out of the thirteen units are free market, which will allow the new buyer to capitalize on a strong, existing stream of income. With a 4.1% Cap rate at asking price, the property is easily financeable, allowing investors of all sizes to potentially acquire. There are currently Seven 2-bedrooms, Four 3-bedrooms, One 1-bedroom, and One 5-bedroom duplex.
Turn Key Asset. All the units, hallways, common spaces, and basement are gut-renovated to the highest degree. Every unit features new hardwood floors, stainless steel appliances, granite countertops, marble bathrooms, and exposed brick.
Midtown West extends from 34th Street to 59th Street between Fifth Avenue and the Hudson River. Within these boundaries lie renowned districts and streets that are home to some of the most notable commercial buildings and attractions that Manhattan has to offer, which include:
" Hell' s Kitchen meets Central Park to the north at Columbus Circle, located at 59th Street and 8th Avenue " Time Square and the Theatre District stretch from 42nd Street to West 53rd Street " Diamond District on West 47th Street between 6th and 5th Avenues " Garment District from West 42nd Street and West 34th Street between 9th and 5th Avenues " Herald Square at the intersection of Broadway, between 6th Avenue and West 34th Street.
