Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    33rd 5Th Ave New York, NY 10001
    Back to Search
    Property profile & analytics

    33rd 5Th Ave New York, NY 10001

    View on Map
    • Hospitality properties
    • 60,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hospitality properties

    Property Details for 33rd 5Th Ave

    Year built
    2023
    Property size
    60,000 SF
    Property type
    Hospitality properties
    Property subtype
    Hotels

    Description

    This exceptional 25-story hotel, boasting 250 keys and situated on W 33rd Street near 5th Avenue in Manhattan, presents a lucrative investment opportunity. The property, built in 2023, enjoys a prime location near the Empire State Building and within the vibrant Korean-town district. With a total square footage between 60,000 and 100,000 square feet, the hotel currently operates at 100% occupancy (as of April 1, 2023), generating a Net Operating Income (NOI) of $4,000,000. The asking price is $125,000,000, translating to a current cap rate of 3.20% and a pro-forma cap rate of 8.00%. The pro-forma NOI is projected at $10,000,000. The property sits on a lot ranging from 5,000 to 10,000 square feet, with a land value estimated at $10,000 to $15,000 per square foot. The price per key is $550,000. The hotel is zoned C6-4i and offers no air rights. This is an owner/user investment opportunity ideal for experienced hospitality operators or foreign investors. The property's current success and significant growth potential make it a compelling investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9851
    Latitude
    40.7478

    Comparable in this City

    • Value Estimation by Request
      11,118 SF

      Albany St

      Hotels • 11,118 SF
      0 Albany St, New York, NY 10001
      View Details
    • Value Estimation by Request

      Unique Boutique Travel Company

      Hospitality properties
      0 Unique Boutique Travel Company, New York, NY 10001
      View Details
    • Value Estimation by Request
      147,220 SF

      132 27th St

      HOTEL • 147,220 SF
      132 27th St, New York, NY 10001-6202
      View Details
    • Value Estimation by Request
      73,497 SF

      815 Ave Of The Americas, Unit 817

      HOTEL • 73,497 SF
      815 Ave Of The Americas, New York, NY 10001-6305
      View Details
    • Value Estimation by Request
      187,489 SF

      835 Ave Of The Amerhotel

      HOTEL • 187,489 SF
      835 Ave Of The Amerhotel, New York, NY 10001
      View Details
    • Value Estimation by Request
      198,784 SF

      34 Hudson Yardshu

      HOTEL • 198,784 SF
      34 Hudson Yardshu, New York, NY 10001-2170
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      International Specialty Travel Company

      Boutique travel company focused on art, culinary, and cultural programs.
      Unique Boutique Travel Company, New York, NY 10001
      View Details
    • Contact for pricing
      7,832 SF

      Nomad Development Opportunity on Sixth

      Prime Nomad location with redevelopment and expansion potential.
      821 6Th Ave, New York, NY 10001
      View Details
    • $5,600,000
      8,000 SF

      Prime NYC Executive Office Space

      Luxury 8,000 SF Penthouse Loft, $5.6M
      134 26Th St, New York, NY 10001
      View Details
    • $3,500,000
      4,220 SF

      Retail Space in New York

      Retail space available for sale in New York, NY.
      362 8Th Ave, New York, NY 10001
      View Details
    • Contact for pricing
      9,500 SF

      Prime Retail Condo Near FIT

      Retail condo with high visibility in bustling commercial area.
      144 W 27Th St, New York, NY 10001
      View Details
    • Contact for pricing
      1,500 SF

      Midtown Manhattan Redevelopment Opportunity

      3,576 SF lot with redevelopment potential in Midtown Manhattan.
      345-357 7Th Ave, New York, NY 10001
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Times Square Retail Space

      Retail space in Times Square with high foot traffic.
      5th 32Nd St, New York, NY 10001
      View Details
    • Contact for pricing

      GRND Penn Plaza Office Space

      Office space available for rent in GRND Penn Plaza.
      312 5Th Ave, New York, NY 10001
      View Details
    • $3,000 /Mo

      Manhattan Office Suite For Rent

      Bright, private office suite with utilities included and flexible terms.
      115 W 29Th St, Manhattan, NY 10001
      View Details
    • Contact for pricing
      700 SF

      Retail Space in Midtown Manhattan

      700 SF retail space available for rent in Midtown.
      264 West 35Th St, New York, NY 10001
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space in New York

      5,000 sq ft retail space available for rent.
      401 8Th Ave, New York, NY 10001
      View Details
    • $4,700 /Mo
      643 SF

      Spacious One-Bedroom Apartment with Balcony

      643 square foot one-bedroom apartment with southern exposure and balcony.
      143 West 30Th St, New York, NY 10001
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    33rd 5Th Ave
    New York, NY 10001
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    33rd 5Th Ave, New York, NY, 10001
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!