411 WEST 45 STREET

Elite ListingMultifamily ManhattanHell's Kitchen / Clinton

$6,750,000

Price

5.0%

Cap Rate

18

Units

$339,224

NOI


Property located at 411 WEST 45 STREETIc expand

Avison Young is engaged by ownership as exclusive agent to offer for sale 411 West 45th Street in the Hell’s Kitchen neighborhood of Manhattan (“Property”). Located on the north side of West 45th Street between Ninth Avenue and Tenth Avenue, this pristine sixstory apartment building encompasses eighteen (18) residential apartments across 9,756± gross square feet. Of the eighteen (18) residential units, 83.33% are fair market and the units are comprised of one studio unit, nine (9) one-bedroom units and eight (8) two-bedroom units. There is still significant untapped value-add potential that can be captured by effortlessly implementing cosmetic upgrades throughout the units and common areas. Given the configuration of the Property on the lot, 411 West 45th Street is exposed on three sides, providing the apartments with favorable light and air.

Located right off 9th Avenue, the area’s prime retail corridor, the Property benefits greatly from its central location. 411 West 45th Street is within a short distance to great transportation options including the 42nd Street Port Authority Bus Terminal and the Times Square Subway Station servicing the N, Q, R, W S, 1, 2, 3, and 7 subway lines, Furthermore, with the ongoing western development transforming Hell’s Kitchen, West 45th Street is well poised for positive and sustained growth. Additionally, the area is set to receive a massive influx of jobs and capital from the ongoing
Hudson Yard development, just a few short blocks south of West 45th Street.

411 West 45th Street offers potential investors an opportunity to acquire and capitalize on an income-producing Property with future upside in a rapidly evolving residential neighborhood.

Property Details

Block/Lot:1055/26
Lot Dimensions 24.0 x 100.42
Lot Area2,410 sq.ft
Zoning: R8
FAR as Built:3.97
Max FAR:6.5

Exclusive Agent

Mitchell Levine

Avison Young

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