450 78th St New York, NY 10075-1602

Property Details for 450 78th St

Year built

1910

Lot size

0.01 lot acres

Property size

1,300 SF

Zone code

R10

Property type

Investment properties

Property subtype

Live-work space

APN

01472-0129

APU

14720129

Description

This exceptional multifamily investment opportunity presents a 2-story walk-up building located at 450 East 78th Street in New York, NY 10075. The property boasts a desirable location with 25 feet of street frontage. The building encompasses 1,300 square feet and comprises three units: two ground-floor retail spaces and one residential unit on the second floor. This versatile property benefits from flexible R10 zoning, allowing for a variety of potential uses and development options. A significant advantage is the approximately 5,100 square feet of unused air rights, presenting substantial potential for future expansion or increased value. The building is currently classified under Tax Class 1, enjoying significantly low taxes. Full possession of the property is expected by November 2025, providing a clear timeline for new ownership to take control and implement their investment strategy. This is a rare opportunity to acquire a well-positioned multifamily property in a prime New York City location with considerable upside potential. The asking price is $1,950,000.