48Th St New York, NY 10036

Property Details for 0 48Th St

Year built

1910

Property size

6,859 SF

Property type

Mixed-use properties

Description

This exceptional five-story mixed-use building, situated in the heart of New York City's Times Square and Theater District at W 48th St, presents a unique investment opportunity. Built in 1910, this 6,859 to 7,500 square foot property sits on a 1,855 square foot lot and boasts nine units. Currently, the building has 5% occupancy. The lower two floors, including the basement, house a well-established Thai restaurant, available for takeover or vacant delivery. The upper six floors comprise residential apartments, all of which will be delivered vacant, allowing for immediate free-market rental potential. This marks the first time this property has been offered for sale in four decades. Recent upgrades include new boilers, air conditioning, and electrical lines, ensuring efficient and modern operation. The building's prime location within a high-foot-traffic area of Midtown Manhattan guarantees strong rental income potential for both commercial and residential units. This is a rare chance to acquire a well-maintained, historically significant property in one of the world's most vibrant and sought-after locations. The property is zoned for mixed-use development, offering flexibility for future expansion or renovation. Detailed financial information and further specifics are available upon request.