460 West 51st Street, New York, NY 10019
Five renovated apartments in a multi-story brownstone with separate electric, heat, and hot-water meters.
Property Features for 460 West 51st Street
General Information
Additional Details
Building Details
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Investment Insights
Based on property information with market context.
Located on a tree-lined street in the heart of Hell’s Kitchen, the property is described as within walking distance of Times Square and one block from Restaurant Row. The remarks also cite proximity to multiple subway lines, including the A, B, C, D, E, and 1 trains.
For buyers or operators seeking a small multifamily asset, the property’s unit-by-unit metering and current apartment updates may support day-to-day tenant appeal and operational clarity. Public remarks state the current rents are below market and that leases generally end in mid-year, with the exception of one lease ending in January 2026. The unused finished basement and the additional FAR/air rights cited in the remarks may provide paths for increased functional use and future income optimization.
Key Highlights
- 1920‑built multi‑story brownstone with 5 fully updated renovation apartments
- 5 stories; each unit has separate meters for electric, heat, and hot water
- Units offer in‑unit washer/dryers and stainless steel appliances
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $389.2k | $59.88 |
| − Vacancy | −$19.5k | −$2.99 |
| EGI | $369.8k | $56.89 |
| − OpEx | −$166.4k | −$25.60 |
| NOI | $203.4k | $31.29 |
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Demographics for 10019, NY
Market
Vacancy Rate% for Multifamily in Northeast region