415 47Th StNew York, NY 10036

This exceptional mixed-use investment opportunity presents a 26-unit apartment building in Midtown West, Manhattan, at 415 West 47th Street. The property boasts a substantial 12,125 square feet across two buildings situated on a 3,140 square foot lot. The asking price is $9,950,000, representing a price per square foot of $820.62 and a price per unit of $382,692.31. The property currently enjoys 100% occupancy, generating a Net Operating Income (NOI) of $565,158, with a pro-forma NOI of $643,336 and a pro-forma cap rate of 6.47%. The building comprises 24 residential units – a mix of studios and one-bedroom apartments, with 22 free-market and 2 rent-stabilized units. Additional income streams are derived from a commercial office space, a storage unit, a superintendent's unit, and an antenna lease. The front building is six stories, while the rear building, separated by a courtyard, is four stories. This Core+ investment offers strong in-place cash flow and significant upside potential in a prime Manhattan location. The land value is $820 per square foot. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a highly desirable area of New York City.