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$7,950,000
Est. payment /mo
2,008 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID 880436
Rental Info No
Year Built 1910
Annual Tax Amount $96,101
Lot Size 2,008 Sqft
Acres 0.0461
Property Sub-Type Other
Source onekey2
Property Description
Current Configuration: 4 Residential Units + 1 Retail Storefront
Annual Gross Income: $465,000
2024 Property Taxes: Only $96,000
Lot Size: 20×100.42ft
Building Footprint: 20×50ft (approx. 3,540SF, 3 stories)
Development & Upside Potential
Zoning: 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
Annual Gross Income: $465,000
2024 Property Taxes: Only $96,000
Lot Size: 20×100.42ft
Building Footprint: 20×50ft (approx. 3,540SF, 3 stories)
Development & Upside Potential
Zoning: 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
Location
State NY
County New York (manhattan)
Rooms
Basement Full
Interior
Heating Other
Cooling Central Air
Fireplace No
Exterior
Utilities Available See Remarks
Building
Sewer Other
Water Other
Structure Type Brick
Others
Special Listing Condition None
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Listed by Winzone Realty Inc • Victoria Chang