Hudson Yards Corner Assemblage 3 Properties Offered at $9,995,000 in New York, NY

Douglas Elliman Commercial has been retained on an exclusive basis to market the sale of a unique Hudson Yards assemblage comprised of two multifamily buildings and an adjacent parking lot located at the northwest corner of West 38th Street and Ninth Avenue.
507 Ninth Avenue and 509 Ninth Avenue contain 16 residential apartments, 2 retail spaces and 3 telecom antennae leases, providing immediate in-place cash flow and long term repositioning potential.
Adjacent to the residential assets, 405 West 38th Street operates as a licensed parking lot and offers approximately 10,000 buildable square feet, creating a compelling future development opportunity.
The Port Authority's Dyer Avenue Deck-Over project is the first step in a major transformation of Midtown West. The project will ultimately create 3.5 acres of new public green space, while the new Midtown Bus Terminal is designed to serve projected commuter growth through 2050. With an estimated $10-11 billion dollar investment, a new 2.1-million-square-foot terminal, new retail, improved streetscapes and public open space, the surrounding neighborhood has substantial potential for increased visibility, development activity which will factor as long-term property demand.
For investors, this is an opportunity to acquire property ahead of a generational infrastructure transformation and position for a long-term growth of the emerging Hudson Yards neighborhood.