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510 Ninth Ave 24 Unit Apartment Building $5,898,000 ($245,750/Unit) 14.50% Cap Rate New York, NY 10018

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EXECUTIVE SUMMARY

RARE VACANT 24-UNIT MIXED-USE BUILDING IN THE HEART OF MIDTOWN. 510 9th Avenue presents a once-in-a-generation opportunity to acquire a fully vacant 24-unit mixed-use building in one of Manhattan’s most high-demand locations. Situated in the bustling core of Midtown, this property offers immediate repositioning potential and massive long-term upside. With a current FAR of 4.6 and zoning changes driven by the explosive Hudson Yards transformation, projections show buildable potential could soar to a staggering 7.2. Whether you’re looking to renovate, reposition, or redevelop, this property is your blank canvas. Strategically located near **Port Authority**, **Penn Station**, the **Lincoln Tunnel**, and major subway lines (A/C/E, 1/2/3, N/Q/R), this address delivers unbeatable access to regional transit and commuter corridors. Close proximity to Hudson Yards, Times Square, and the Theater District ensures high visibility and strong foot traffic. **Ownership seeks a fast and clean sale.** Opportunities like this don’t come around often — don’t miss your shot at shaping the future of Midtown.

PROPERTY FACTS Under Contract

Price $5,898,000
Price Per Unit $245,750
Sale Type Investment
Cap Rate 14.50%
Sale Conditions
Distress Sale
  • Redevelopment Project
  • REO Sale
No. Units 24
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
  • Office Office Residential
  • Multifamily Dormitory
Apartment Style Mid-Rise
Building Class C
Lot Size 0.06 AC
Building Size 12,900 SF
Average Occupancy 100%
No. Stories 6
Year Built 1920
Zoning C1-7A - C1-7A Zoning NYC · Fontan Architecture C1-7A Zoning is a Local Retail and Local Service Contextual Commercial Zoning District in NYC.

AMENITIES

UNIT AMENITIES

  • Air Conditioning
  • Dishwasher
  • Microwave
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Tub/Shower
  • Freezer

SITE AMENITIES

  • 24 Hour Access
  • Controlled Access
  • Tenant Controlled HVAC
  • Public Transportation
  • Walk-Up
  • Smoke Detector

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 24 - -
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (91)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0762-0005
Land Assessment
$144,900
Improvements Assessment
$837,360
Total Assessment
$982,260
  • Listing ID: 37372530

  • Date on Market: 8/21/2025

  • Last Updated:

  • Address: 510 Ninth Ave, New York, NY 10018

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