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Property profile

16 48th St New York, NY 10017

OFF-MARKET
Banks
Property ID
US63-2019288
View Sample
14,024 SF 0.06 ac lot Built 1940
Entity Owned 26-yr Hold Absentee Owner Free & Clear

Property summary

AI-generated overview

This exceptional 10,000 square foot commercial property located at 16 East 48th Street in New York City's Midtown East offers a unique opportunity for businesses seeking premium executive office space. The building is classified as both retail and office, providing versatile options for a variety of tenants. Currently, the entire 10,000 square feet is available for lease, presenting a rare chance to secure a substantial footprint in a highly desirable location. The property is categorized as multi-tenant, allowing for flexibility in lease terms and configurations. The address, 16 E 48th St, places the building within easy reach of major transportation hubs, offering unparalleled convenience for employees and clients. Situated in New York County, this property benefits from the vibrant energy and extensive amenities of Midtown East. The space is ideal for businesses seeking a prestigious address and a modern, efficient workspace. Four individual spaces, each approximately 2,500 square feet, are available, providing options for businesses of varying sizes. This presents a unique opportunity to establish a significant presence in a prime Manhattan location. Interested parties are encouraged to inquire about lease terms and customization options to tailor the space to their specific needs. The property's classification as "Executive Office" highlights its suitability for businesses seeking a sophisticated and professional environment.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1940
Total area 14,024 SF
Lot 0.06 ac (2,513 SF)
Zoning code C52.5
APN 01283-0061
UPID US63-2019288

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Dental Office
  • Restaurant
  • Vocational School Training Center
  • Alternative Medicine Practice
  • Alternative Medicine Practice Spa & Massage Center

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$100k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$115k

Owner & transaction history

Zoning & alternative use

C52.5 · New York, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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