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Property profile

64 W 48Th St New York, NY 10036

Banks
Property ID
US63-1258806
View Sample
105,262 SF 0.19 ac lot Built 1926
Entity Owned 18-yr Hold ~ Est. High Equity

Property summary

AI-generated overview

This exceptional 17-story, Class B office building at 64 W 48th St, located in the coveted Plaza District of Midtown Manhattan, offers a unique opportunity for discerning tenants. Boasting a total of 130,000 square feet, the property, built in 1926 and extensively renovated in 2010, provides multiple tenancy options. Currently, there are 35,443 square feet of vacant space available, divisible into units ranging from a minimum of 7,852 square feet to a maximum contiguous space of 9,197 square feet. The building features four elevators – three passenger and one freight – ensuring efficient vertical transportation. While parking is not available on-site, the building's prime location offers easy access to public transportation. The property is ideally suited for a variety of uses, including creative office, executive office, medical office, jewelry businesses, and educational institutions, as well as light manufacturing. The 3rd and 4th floors are available for lease individually or together, and will be delivered in a "white box" condition, allowing for complete tenant customization. Landlord build-to-suit options are available. Tenants will enjoy tenant-controlled air conditioning. The building's convenient location, adjacent to Rockefeller Center and just one block from the Diamond District, provides unparalleled access to amenities and a vibrant business environment. On-site amenities include the Elgin and Tsuru Ton Tan restaurants.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1926
Total area 105,262 SF
Lot 0.19 ac (8,384 SF)
Zoning code C6-6
APN 01263-0067
UPID US63-1258806

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
  • Counselor Social Worker
  • Restaurant
  • Factory Production Facility
  • (Bike/Boat/Book/etc) Store
  • (Bike/Boat/Book/etc) Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$24.29M

Owner & transaction history

since 2008
7 recorded transactions
2018
Price N/A
2012
Price N/A
2010
Price N/A
2008
$54.5M
2006
$34.0M
1969
Price N/A
1969
Price N/A

Zoning & alternative use

C6-6 · 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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