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Midtown West Portfolio 3 Properties Offered at $10,000,000 in New York, NY
EXECUTIVE SUMMARY
Douglas Elliman Commercial has been retained on an exclusive basis to secure the sale of
two walk-up rent stabilized buildings and adjacent licensed parking lot located in
the Midtown West / Hudson Yards neighborhood.
507 Ninth Avenue and 509 Ninth Avenue are comprised of 16 apartments with a total
building area of approximately 16,640 square feet.
405 West 38th Street has been operating as a parking lot serving Lincoln Tunnel commuters
for many profitable years. The site can continue as a Licensed Parking Lot or can be
developed. There are approximately 10,000 buildable square feet.
The properties are situated at the Northwest corner of West 38th Street and Ninth Avenue,
adjacent to the Dyer Deck-Over in support of Port Authority rebuild.
The opportunity offers an investor and development company early access to what will be
the next enhancement of Manhattan West connecting to the waterfront at Hudson Yards.
two walk-up rent stabilized buildings and adjacent licensed parking lot located in
the Midtown West / Hudson Yards neighborhood.
507 Ninth Avenue and 509 Ninth Avenue are comprised of 16 apartments with a total
building area of approximately 16,640 square feet.
405 West 38th Street has been operating as a parking lot serving Lincoln Tunnel commuters
for many profitable years. The site can continue as a Licensed Parking Lot or can be
developed. There are approximately 10,000 buildable square feet.
The properties are situated at the Northwest corner of West 38th Street and Ninth Avenue,
adjacent to the Dyer Deck-Over in support of Port Authority rebuild.
The opportunity offers an investor and development company early access to what will be
the next enhancement of Manhattan West connecting to the waterfront at Hudson Yards.
PROPERTY FACTS
| Price | $10,000,000 | Number of Properties | 3 |
| Price / SF | $600.96 / SF | Individually For Sale | 0 |
| Cap Rate | 6.20% | Total Building Size | 16,640 SF |
| Sale Type | Investment | Total Land Area | 0.21 AC |
| Status | Active |
| Price | $10,000,000 |
| Price / SF | $600.96 / SF |
| Cap Rate | 6.20% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 16,640 SF |
| Total Land Area | 0.21 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 405 W 38th St, New York, NY 10018 | Land | 0.07 AC | - | - |
| 509 9th Ave, New York, NY 10018 | Multifamily | 8,775 SF | 1920 | - |
| 507 Ninth Ave, New York, NY 10018 | Multifamily | 7,865 SF | 1900 | - |
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Midtown West Portfolio
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