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Property profile

252 37th St 258 New York, NY 10018

Banks
Property ID
US63-2153077
View Sample
139,629 SF 0.21 ac lot Built 1924
Entity Owned 19-yr Hold ~ Est. High Equity

Property summary

AI-generated overview

This exceptional 600-square-foot retail space is ideally situated on a high-traffic street in the vibrant Garment District of Midtown South, New York County. Currently configured as a cafe, the space boasts 15 feet of attractive glass storefront frontage, ensuring excellent visibility and attracting significant foot traffic. While a staircase to a mezzanine level has been removed, it's important to note that the space is currently accessible via a freight elevator located at the rear of the building. The unit includes private restrooms, adding to its convenience and functionality. The building itself offers a substantial 161,613 square feet of total space, indicating a larger, well-maintained property. This location provides unparalleled access to public transportation, with proximity to the N, Q, R, W, 7, S, A, C, and E subway lines, as well as numerous bus routes. The surrounding area is bustling with restaurants, bars, and various activities, creating a dynamic and attractive environment for businesses. This ground floor retail space presents a unique opportunity for a variety of retail concepts seeking a high-visibility location in a densely populated and commercially active area. The multiple tenancy nature of the building suggests a diverse and thriving community of businesses. This property is perfect for a business looking for immediate occupancy and a strong presence in a prime Midtown South location.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1924
Total area 139,629 SF
Lot 0.21 ac (9,131 SF)
Zoning code M1-6
APN 00786-0076
UPID US63-2153077

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
  • Translation Service
  • Courier Service Postal Service
  • Bank Credit Union
  • Home Health Care Service
  • Business To Business Service

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$41.28M

Owner & transaction history

since 2007
4 recorded transactions
2007
$33.7M
2007
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

M1-6 · 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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