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    249 E 49Th St New York, NY 10017

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    For Sale
    $6,800,000

    Four-story commercial building in Turtle Bay neighborhood.

    Property size:
    1,808 SF
    Lot size:
    0.04 Acres

    Property Features for 249 E 49Th St

    General Information

    Size
    1,808 SF
    Lot size
    0.04 Acres

    Source: Nest Seekers International - Corporate Agent Akiko Osaka

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turtle Bay Commercial Building For Sale

    Located in the Turtle Bay neighborhood, this four-story commercial building offers 4,344 square feet of gross leasable area. Constructed in 1900, the building features a frontage of 21 feet on a 1,808-square-foot lot (0.04 acres). The property includes a renovated ground floor and second-floor office/retail space, with two residential floors above. It has two separate entrances. Situated on East 49th Street between Second and Third Avenue, the building is surrounded by high-end residential townhouses. The property is located in a R8B zoning district and has a maximum buildable area of approximately 7,200 square feet for future mixed-use or residential development. The building can be delivered vacant or with the existing high-end restaurant. The property is near Grand Central Station, presenting an opportunity for a restaurant user or investor.
    Insight Report Location Intelligence

    Current Use by Public Records

    Okatte Tanto NY Japanese Restaurant Lillie's Victorian Establishment Cocktail Bar

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Nail Salon Dental Office Food Market Clothing Store Grocery Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Sahola Flower Delivery Midtown East, Same Day Flower Delivery Manhattan, Flower Delivery Flatiron, Aranjira, Mother's Day Flowers

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9694121
    Latitude
    40.7545462

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    FAQs

    What type of property is this?
    Storefront property - Four-story commercial building in Turtle Bay neighborhood.
    Where is this storefront property located?
    The property is located at 249 E 49Th St New York, NY.
    What is the asking price?
    The asking price for this property is $6,800,000.
    What are key features of this property?
    This property features: - Prime Turtle Bay location near Grand Central Station; - **4,344 SF Commercial Building with mixed-use potential (retail/office/residential)**; - Delivered vacant or with existing high-end restaurant
    (212) 203-3064
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    249 E 49Th St New York, NY 10017
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    New York, NY 10017
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    249 E 49Th St New York, NY 10017
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