249 49Th St New York, NY 10017

Property Details for 249 49Th St

Year built

1900

Lot size

0.04 lot acres

Property size

4,344 SF

Zone code

R8B

Property type

Retail residential properties

APN

01323-0021

APU

13230021

Description

This exceptional mixed-use property at 249 East 49th Street in New York City's coveted Turtle Bay neighborhood presents a unique investment opportunity. The 4-story, 4,344 square foot building, constructed in 1900, features a ground-floor Japanese restaurant and vacant upper floors ready for immediate occupancy. The second and third floors offer versatile retail or office space, while the fourth floor comprises a four-bedroom apartment with spacious living, kitchen, and dining areas overlooking a private backyard. The property is zoned R8B, allowing for a maximum buildable square footage of 7,200, presenting significant future development potential. Currently generating a Net Operating Income (NOI) of $187,444 and boasting a 3.07% cap rate, this asset offers a compelling return on investment. The asking price is $6,100,000, translating to $1,404.24 per square foot. Located between Second and Third Avenues, this property benefits from its proximity to Grand Central Station and the upscale residential character of the surrounding area. The 0.04-acre lot provides a solid foundation for a variety of uses, making it an ideal acquisition for both seasoned investors and discerning entrepreneurs. All floors, except the ground floor restaurant, will be delivered vacant.

Location Insight

City

New York

County

New York

State

New York

Longitude

-73.9693

Latitude

40.7546

CBSA code

35620

CBSA name

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

Property Tax & Assessments