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a.k.a. 468 West 47th Street 668 10th Ave 11 Unit Apartment Building $13,568,000 ($1,233,455/Unit) 2.20% Cap Rate New York, NY 10036
INVESTMENT HIGHLIGHTS
- Excellent Corner Location in Mid-Town West Side Neighborhood.
EXECUTIVE SUMMARY
Prominently LOCATED on the southeast corner of Tenth Avenue and West 47th Street. This property represents a prime mixed-use investment and redevelopment opportunity in the HEART of MIDTOWN’S WEST/HELL’S KITCHEN. The site offers approximately 25.08 feet of FRONTAGE along Tenth Avenue and extends 100.42 feet along West 47ty Street , totaling roughly 2,518 square feet of land area.
The existing improvement consists of two interconnected buildings: a five-story mixed-use structure facing Tenth Avenue (668 10th Avenue) and a two-story rear building fronting West 47th Street (468 West 47th Street). The front building features a ground-floor restaurant tenant with eight residential apartments above, while the rear building includes an Italian restaurant on the first floor and a three-bedroom apartment on the second floor with a separate from West 47th Street.
The existing improvement consists of two interconnected buildings: a five-story mixed-use structure facing Tenth Avenue (668 10th Avenue) and a two-story rear building fronting West 47th Street (468 West 47th Street). The front building features a ground-floor restaurant tenant with eight residential apartments above, while the rear building includes an Italian restaurant on the first floor and a three-bedroom apartment on the second floor with a separate from West 47th Street.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$560,208
|
$67.32
|
| Other Income |
$12,692
|
$1.53
|
| Vacancy Loss |
$63
|
$0.01
|
| Effective Gross Income |
$572,837
|
$68.83
|
| Taxes |
$175,500
|
$21.09
|
| Operating Expenses |
$103,986
|
$12.50
|
| Total Expenses |
$279,486
|
$33.58
|
| Net Operating Income |
$293,351
|
$35.25
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $560,208 |
| Annual Per SF | $67.32 |
| Other Income | |
|---|---|
| Annual | $12,692 |
| Annual Per SF | $1.53 |
| Vacancy Loss | |
|---|---|
| Annual | $63 |
| Annual Per SF | $0.01 |
| Effective Gross Income | |
|---|---|
| Annual | $572,837 |
| Annual Per SF | $68.83 |
| Taxes | |
|---|---|
| Annual | $175,500 |
| Annual Per SF | $21.09 |
| Operating Expenses | |
|---|---|
| Annual | $103,986 |
| Annual Per SF | $12.50 |
| Total Expenses | |
|---|---|
| Annual | $279,486 |
| Annual Per SF | $33.58 |
| Net Operating Income | |
|---|---|
| Annual | $293,351 |
| Annual Per SF | $35.25 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 9 | - | - |
1 1
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 1056-0061 | Total Assessment | $1,404,000 (2025) |
| Land Assessment | $513,000 (2025) | Annual Taxes | $175,500 ($21.09/SF) |
| Improvements Assessment | $891,000 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
1056-0061
Land Assessment
$513,000 (2025)
Improvements Assessment
$891,000 (2025)
Total Assessment
$1,404,000 (2025)
Annual Taxes
$175,500 ($21.09/SF)
Tax Year
2024
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Presented by
Full Score Realty Inc.
a.k.a. 468 West 47th Street | 668 10th Ave
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