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    384 5Th Ave New York, NY 10018

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    For Sale
    Contact for pricing

    28,000 SF Vacant Office, Investment Opportunity

    Property size:
    28,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional eight-story office building, located at 384 Fifth Avenue in New York, NY 10018, presents a unique investment opportunity. Boasting 28,000 square feet of space, the property is currently vacant and ready for immediate occupancy, starting April 12, 2024. Built in 1906, this elevator building is zoned C5-3 MiD and sits on a 3,583 square foot lot. The building's versatile design caters to both creative and traditional office uses. The property's prime location on Fifth Avenue offers unparalleled access to major transportation hubs, including proximity to the Empire State Building, Herald Square, and Penn Station, as well as numerous subway lines. A retail tenant currently occupies a portion of the building, providing immediate income potential. The upper floors are to be delivered vacant, allowing for flexible redevelopment options. A significant advantage for potential buyers is the owner's offer of 50% mortgage financing, making this a compelling investment opportunity in a highly desirable location. This is a rare chance to acquire a substantial property in the heart of New York City with significant upside potential. The building's history and location combine to create a truly exceptional offering.

    Property Features for 384 5Th Ave

    General Information

    Property type
    Office space
    Square Feet
    28,000 SF

    Building Details

    Year Built
    1906
    Buildings
    1
    Stories
    8
    Property Profile Location Intelligence

    Current Use by Public Records

    vintesh Website Designer La Fiorentina Fashion Designer Gifts & luggage Gift Shop Joy Lud District ... Distribution Service Me Mobile & Gifts ... Electronics Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9841791
    Latitude
    40.7496167

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    FAQs

    What type of property is this?
    Office space - 28,000 SF Vacant Office, Investment Opportunity
    Where is this office space located?
    The property is located at 384 5Th Ave New York, NY.
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    384 5Th Ave New York, NY 10018
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    New York, NY 10018
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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
    384 5Th Ave New York, NY 10018
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