Property profile

66 38th St New York, NY 10018

OFF-MARKET
Flex space
Property ID
US63-3787056
33,984 SF Built 2001
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional Midtown Manhattan office building, located at 66-68 West 39th Street (near 6th Avenue), offers a unique opportunity for businesses seeking versatile space in a vibrant location. Built in 1920 and renovated in 2000, this five-story building boasts 14,474 square feet of total space, with a range of suite sizes available. The minimum divisible space is 1,180 square feet, while the maximum contiguous space is 2,134 square feet. Ten individual suites are available within the building, with 4,355 square feet currently vacant. The building features a 10-foot ceiling height and is classified as a Class B property. The property's zoning is C5-3, MID, allowing for a variety of commercial uses, including traditional office, executive office, medical office, creative office, retail, and restaurants. The building is situated in the Garment District submarket, within the Midtown cluster of New York County. While parking is not available on-site, the building's proximity to Bryant Park and Herald Square provides excellent public transportation access. This is an ideal location for businesses seeking a blend of historical charm and modern convenience in the heart of Manhattan. The building's flexible floor plans cater to diverse business needs, making it a perfect choice for companies of all sizes. Note that there are no elevators in this building.

Property profile

Verified
Property type Flex space
Use group LIGHT INDUSTRIAL
Year built 2001
Total area 33,984 SF
Zoning code C6-6
APN 00839-1103
UPID US63-3787056

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
  • Real Estate Agency
  • (Bike/Boat/Book/etc) Store Printing Service
  • Advertising Agency Marketing & Advertising
  • Photography Service (Bike/Boat/Book/etc) Store
  • Hotel & Motel

Location

66 38th St New York, NY 10018-6255
New York metro Census 8400 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.37M
Blend (final) Blend
$3.56M

Owner & transaction history

since 2019
3 recorded transactions
2019
Price N/A
2008
Price N/A
2006
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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