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    42-46 21St St New York, NY 10010

    For Sale
    $22,500,000

    Iconic Flatiron District retail space, high potential.

    Property size:
    7,895 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional retail property, located at 42-46 E 21st Street in the vibrant Flatiron District of New York, NY 10010, presents a unique investment opportunity. The property boasts a substantial square footage ranging from 7,895 to 8,625 square feet, spread across a 15-story building. Its M1-5M zoning permits a variety of retail uses, making it highly adaptable to diverse business needs. Situated in the heart of Gramercy, with close proximity to Union Square, this location benefits from high foot traffic and excellent visibility. The building features 16 individually metered units for gas and electric, offering efficient utility management. A significant advantage lies in the substantial unused air rights, totaling 9,355 square feet, based on a 5.0 FAR, presenting considerable potential for future expansion or development. The asking price for this remarkable property is $22,500,000. This prime location in the Flatiron District, known for its blend of historic architecture and modern dynamism, offers an unparalleled chance to acquire a significant retail asset in one of Manhattan's most sought-after neighborhoods. The property's size, zoning, and location combine to create a compelling investment prospect with substantial upside potential.

    Property Features for 42-46 21St St

    General Information

    Property type
    Retail properties
    Square Feet
    7,895 SF

    Building Details

    Stories
    15

    HighLights

    • Prime Gramercy location, near Union Square.
    • 16 individually metered units (gas & electric).
    • 9,355 SF unused air rights (5.0 FAR).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    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
    -73.98831
    Latitude
    40.7391639

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    FAQs

    What type of property is this?
    Retail property - Iconic Flatiron District retail space, high potential.
    Where is this retail property located?
    The property is located at 42-46 21St St New York, NY.
    What is the asking price?
    The asking price for this property is $22,500,000.
    What are key features of this property?
    This property features: Prime Gramercy location, near Union Square.; 16 individually metered units (gas & electric).; 9,355 SF unused air rights (5.0 FAR).
    Request Owner's contact information
    42-46 21St St New York, NY 10010
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    New York, NY 10010
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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
    42-46 21St St New York, NY 10010
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