350 38Th St, New York, NY 10018

This six-story, 29,628 square foot commercial building at 350 West 38th Street in New York City's Garment District presents a compelling value-add investment opportunity. Built in 1910, the property boasts a prime location between Eighth and Ninth Avenues, offering exceptional natural light and air. Currently configured with multi-tenant occupancy (two tenants), the building features six floors of commercial commissary space, including fully vented kitchens with ample cold storage, and office/light industrial space. A freight elevator with direct sidewalk access enhances convenience. The property includes 19,752 square feet of unused air rights, significantly increasing development potential. Its C6-4M, GC zoning allows for diverse uses, including residential or hospitality conversions, maximizing the unused floor area ratio (FAR). The asking price is $13,500,000 ($455.65/sq ft). Situated in the heart of the Garment District, the building benefits from proximity to Hudson Yards, Times Square, Midtown South, top restaurants, high-end shopping, and excellent mass transit access. This location is highly desirable for caterers, tourists, office tenants, and residents alike. The 4,938 square foot lot provides a solid foundation for future development or repositioning. This is a rare chance to acquire a well-located, versatile property with significant upside potential in a thriving Manhattan neighborhood.