41 35Th StNew York, NY 10001

Property Details for 41 35Th St

Year built

1920

Lot size

0.04 AC

Property size (Sq ft)

5,803 SF

Zone code

M1-6

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

00837-0019

APU

8370019

Description

This exceptional mixed-use property at 41 W 35th St in New York City presents a unique investment opportunity. The building, constructed in 1920 and extensively renovated in 2022, boasts a total of 5,803 square feet across four stories. The permitted zoning is M1-6, 8d, allowing for a variety of uses. The property includes a thriving turnkey restaurant and cocktail bar, complete with a commissary kitchen in the basement. Residential units are fully leased, providing a stable income stream. Significant potential exists with 12,723 square feet of available air rights. The 1,852 square foot lot is ideally situated in a vibrant Manhattan location, offering unparalleled proximity to iconic landmarks such as the Empire State Building, Herald Square, and Koreatown. Excellent public transportation access is provided by numerous subway lines including the N, Q, R, W, B, D, F, M, 1, 2, and 3. This turnkey operation offers immediate income and significant upside potential for a savvy investor. The combination of established commercial space and fully leased residential units makes this a truly compelling investment. The recent renovation ensures the property is in excellent condition, minimizing immediate capital expenditure needs. Don't miss this chance to acquire a prime piece of Manhattan real estate.

• CAP approach

  CAP return

  Valuation

  6%

  $1,189,668

  6.5%

  $1,098,155

  7%

  $1,019,715

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,175,241

  Geo Method

  $1,175,241

• Alternative Use

  Use

  Valuation

  Residential

  $1,098,155

  Hospitality

  $1,005,904

  Educational

  $836,900

  Medical

  $865,682

  Retail

  $1,301,844

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7501

Longitude

-73.9858

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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