Property Details

Overview

Current Configuration: 4 Residential Units + 1 Retail StorefrontAnnual Gross Income: $465, 0002024 Property Taxes: Only $96, 000Lot Size: 20×100.42ftBuilding Footprint: 20×50ft (approx. 3, 540SF, 3 stories)Development & Upside PotentialZoning: R8 (High-Density Residential) with C1-5 Commercial Overlay • Residential FAR up to 6.02 under R8 zoning – allows building -6× the lot area (-12, 000SF) • C1-5 overlay Commercial FAR of 2.0 within R8, equating to combined FAR equal to the higher of the two (6.02) Buildable Area: Over 12, 000SF of potential space – ideal for expansion, redevelopment, or mixed-use conversion. Key Highlights • Turn-key income: Immediate cash flow with long-term tenants (+ retail), plus two vacant units for flexible use • Tax-efficient ownership: Annual tax burden only -$96K, low compared to income • Transferrable development rights: Rare Manhattan plot with substantial upside under current zoning • Midtown core location: Minutes from Broadway, Times Square, transit, dining, and entertainment