Renovated Mixed-Use Building For
W 54th St New York NY New York, NY 10019
W 54th St New York NY, New York, NY, 10019
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For Sale
Contact for pricing
Elevated building with apartments, retail space, and redevelopment potential.
Property Size15,000 SF
Price / SF$666.67
Days on Market713
Property Features for W 54th St New York NY
General Information
- Standard status
- Active
- Size
- 15,000 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1915
Listing agency
Simon Lou / Hotel Real Estate Group
Listed by
Simon Lou · License #NY10311206078
Source
Crexi
Added: Aug 9, 2024 Updated: Jul 10 at 11:22AM Checked: Jul 21 at 5:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Simon Lou / Hotel Real Estate Group
Investment Insights
Based on property information with market context.
This newly renovated elevated building features a mix of residential and commercial spaces. The property includes six studio apartments and one retail store. The building benefits from new electrical and plumbing systems. Additionally, the property has 7400 square feet of air rights available for redevelopment. The annual income from the apartments is $324,000, calculated from a monthly rent of $4500 per unit. The annual income from the restaurant retail space is $300,000, based on a monthly rent of $25,000. The total rental income is $500,000, with a net income of $300,000. The property size is 15000 square feet.
Key Highlights
- High annual net income of $300,000
- Total annual rental income of $500,000
- Includes a store with substantial annual income ($300,000)
Local Financial Insights For Mixed Use
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 | $900.0k | $60.00 |
| − Vacancy | −$135.0k | −$9.00 |
| EGI | $765.0k | $51.00 |
| − OpEx | −$286.9k | −$19.13 |
| NOI | $478.1k | $31.88 |
15,000 SF · lease $60.00/SF/yr · vacancy 15.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$30.16M
$26.39M – $35.18M
NOI $2,110,868 @ 7.0% cap · market cap 21.11%
Second Best
Mixed Use
$6.83M
$5.98M – $7.97M
NOI $478,125 @ 7.0% cap · market cap 4.78%
Theoretical Best
Specialty Retail
$37.34M
$32.67M – $43.56M
NOI $2,613,600 @ 7.0% cap · market cap 26.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flooring Solutions Group
General Contractor
Michael Tannenholtz Consulting
Tax Preparation
Reliance Capital Partners
Law Firm
IP Approach
Law Firm
Midtown Manhattan fast ...
Hardware & Home Improvement
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FAQs
What type of property is this?
Mixed-use property - Elevated building with apartments, retail space, and redevelopment potential.
Where is this mixed-use property located?
The property is located at W 54th St New York NY New York, NY.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: High annual net income of $300,000; Total annual rental income of $500,000; Includes a store with substantial annual income ($300,000)
