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    57 38Th St New York, NY 10018

    For Sale
    $3,900,000

    5,540 SF Creative/Traditional Office

    Property size:
    5,540 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional owner-user opportunity presents a 5,540 square foot office building at 57 W 38th St in New York, NY 10018. Located in Midtown West, this Class C building boasts a prime location near Bryant Park, Grand Central Terminal, Penn Station, and the Port Authority Bus Terminal, offering unparalleled accessibility. Built in 1915, the 12-story building sits on a 0.23-acre lot and features high ceilings and column-free space within its 5,540 square feet. Currently configured as five units, with Unit 601 vacant, this property offers flexibility for various business needs. The building includes an attended lobby and provides 24/7/365 access. Real estate taxes are $52,439 annually (paid bi-annually), and common charges are $36,300 annually ($3,025 monthly). The asking price is $3,900,000, translating to $703.97 per square foot. This is an ideal investment for an owner-occupier seeking a well-situated, adaptable space in a vibrant and convenient location. The property's size and layout offer significant potential for customization and growth. This is a rare opportunity to acquire a well-maintained building in a highly sought-after area of Manhattan.

    Property Features for 57 38Th St

    General Information

    Property type
    Office space
    Square Feet
    5,540 SF
    Class
    C
    Lot Size
    10,019 SF

    Building Details

    Year Built
    1915
    Stories
    12
    Units
    1

    HighLights

    • Five‑unit floor plan.
    • Unit 601 currently vacant.
    • High ceilings throughout.
    • Column‑free layout.
    • Existing tenant occupancy in remaining units.
    • Attended lobby.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Richina Apparel USA ... Manufacturer ejc engineering Engineer Billing Geeks Medical Billing Service Matthijssen NYC Office Equipment Supplier Fresh & Green Agri ... Food Broker

    Suggested Use

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

    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
    -73.9851608
    Latitude
    40.7522005

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    FAQs

    What type of property is this?
    Office space - 5,540 SF Creative/Traditional Office
    Where is this office space located?
    The property is located at 57 38Th St New York, NY.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: Five-unit floor plan.; Unit 601 currently vacant.; High ceilings throughout.
    Request Owner's contact information
    57 38Th St 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
    57 38Th St New York, NY 10018
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