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    140-142 46Th St New York, NY 10036

    Sponsored
    For Sale
    $10,500,000

    12-unit apartment building, high cap rate.

    Property size:
    12,675 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional multifamily investment opportunity presents a rare chance to acquire a well-located, 12-unit apartment building in the heart of New York City. Situated at 140-142 West 46th Street, this property boasts a compelling combination of strong cash flow and significant upside potential. The building comprises two structures, each five stories tall, encompassing a total of 12,675 square feet on a 3,013 square foot lot. Built in 1924, the property is classified as Class D and currently generates a Net Operating Income (NOI) of $624,688, translating to a 5.95% capitalization rate. Pro forma projections indicate a potential cap rate of 6.60%, suggesting further value appreciation. The asking price is $10,500,000, representing a price per square foot of $828. The property is zoned C6-5.5, MiD, offering flexibility for future development or renovations. This is an ideal investment for experienced real estate investors seeking a strong performing asset in a prime Manhattan location. The property's 12 units provide a stable income stream, while the potential for increased NOI through strategic management and improvements presents a compelling value proposition. This is a turnkey opportunity to acquire a well-positioned multifamily asset in a highly sought-after New York City neighborhood.

    Property Features for 140-142 46Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    12,675 SF
    Class
    D

    Building Details

    Year Built
    1924
    Buildings
    2
    Stories
    5
    Units
    12

    HighLights

    • $10,500,000 asking price for this 12‑unit apartment building.
    • Multifamily property with a 5.95% cap rate and a pro‑forma cap rate of 6.60%.
    • 12,675 square feet, priced at $828 per square foot.
    • $624,688 Net Operating Income (NOI).
    • Twelve units in a Class D, two‑building complex.
    • Five‑story building constructed in 1924, situated on a 3,013 square foot lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Hair Salon Spa & Massage Nail Salon Food Market Dental Office 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
    -73.9840742
    Latitude
    40.7579062

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    FAQs

    What type of property is this?
    Multifamily property - 12-unit apartment building, high cap rate.
    Where is this multifamily property located?
    The property is located at 140-142 46Th St New York, NY.
    What is the asking price?
    The asking price for this property is $10,500,000.
    What are key features of this property?
    This property features: $10,500,000 asking price for this 12-unit apartment building.; Multifamily property with a 5.95% cap rate and a pro-forma cap rate of 6.60%.; 12,675 square feet, priced at $828 per square foot.
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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
    140-142 46Th St New York, NY 10036
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