412 36th St New York, NY 10018-6343

Property Details for 412 36th St

Year built

1920

Lot size

0.06 lot acres

Property size

10,500 SF

Zone code

C17A

Property type

Apartment buildings

APN

00733-0045

APU

7330045

Description

This exceptional 14-unit apartment building, located at 412 West 36th Street in New York City's Midtown West neighborhood, presents a compelling investment opportunity. The property boasts 11,175 square feet and sits on a 2,469 square foot lot. The building comprises a six-story main structure and a three-story carriage house, totaling fourteen units. Ten units are two-bedroom, one-bathroom apartments within the main building, with one additional two-bedroom, two-bathroom unit on the ground floor. The carriage house features three two-bedroom, one-bathroom apartments, and its ground floor serves as mechanical space and storage. A private courtyard separates the two buildings. Substantially renovated in 2014, the property features condo-quality finishes including hardwood floors, stainless steel appliances, granite countertops, tile bathrooms, exposed brick, and individual Mitsubishi PTAC heating and AC units. Each unit also includes a Bosch washer/dryer combination and individual meters for efficient expense allocation. A modern security system enhances the building's appeal. The building enjoys a prime location near Hudson Yards, offering easy access to transportation and a thriving neighborhood. With a 7.83% cap rate and a net operating income (NOI) of $700,809, this property offers a strong and stable cash flow, making it an attractive investment for discerning buyers. The permitted zoning is R8A, C1-7A, C2-5, and HY. The asking price is $8,950,000, with a price per unit of $639,285.71 and a price per square foot of $800.89.