Lee & Associates NYC – has been retained on an exclusive basis to market a mixed use building in prime Midtown Manhattan. Midtown is one of New York City’s most dynamic neighborhoods, adjacent to Times Square, the Theatre District and Hell’s Kitchen. The subject property is a 5-story mixed use building located on the south side of West 48 th Street between Eighth Avenue and Broadway. The asset contains a fully built and operating two story restaurant (with blade sign) featuring new electrical service, multiple split HVAC units, and other improvements. The kitchen located on the ground floor boasts a 30’ hood (black iron venting installed to roof), dishwasher station and an ADA bathroom in the seating area. The second floor has a prep kitchen, wet bar, 2 additional bathrooms and seating area. The basement is outfitted with 2 walk-in boxes, one being the freezer and the other the fridge. The third floor through fifth floor is residential containing 6 residential apartments. The entire building will be delivered vacant. The subject property is positioned in a very strong and growing retail corridor with notable traffic drivers filling the block. On the south side of the street is the Gallivant Hotel (336 hotel rooms) adjacent to the East is The Longacre Theatre (1,091 seating capacity) and Hurley’s Saloon. On the North side of the street is The Ritz Plaza (479 apartments),The Crowne Plaza Times Square (795 hotel rooms) and Hershey’s Chocolate World. BUILDING OVERVIEW: 244 WEST 48 ST 244 WEST 48 TH STREET MIXED USE BUILDING FOR SALE DELIVERED VACANT 2 Story Restaurant + 6 Apartments INVESTMENT HIGHLIGHTS Tax Map Lot Size: 22’ X 84.33’ sf (irregular) Lot SF: 1,855 sf Location: South side of 48 th Street between Broadway & 8 th Avenue Block/Lot: 1019/59 Stories: 5 Zoning/FAR: C6-5 / 10 Building Dimensions: Grnd & 2 nd FL 3 rd FL to 5 th FL Built Full 22’ X 50’ Total Building SF: EXCLUSIVE AGENTS: RICHARD KAVE Executive Managing Director 212.776.1291 [email protected]leeassociatesnyc.com BARCLAY SMYLY Associate 212.776.4353 [email protected]All information supplied is from sources deemed reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by principals or agreed by this Company, the terms of which are available to principals or duly licensed brokers. Any square footage dimensions set forth are approximate. 7,010 sf (approx) Assessment (17/18): $3,394,000 Taxes (17/18): $81,451
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244 WEST 48TH STREET MIXED USE BUILDING FOR SALE...Lee & Associates NYC – has been retained on an exclusive basis to market a mixed use building in prime Midtown Manhattan. Midtown
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Lee & Associates NYC – has been retained on an exclusive basis to market a mixed use building in prime Midtown Manhattan. Midtown is one of New York City’s most dynamic neighborhoods, adjacent to Times Square, the Theatre District and Hell’s Kitchen. The subject property is a 5-story mixed use building located on the south side of West 48th Street between Eighth Avenue and Broadway.
The asset contains a fully built and operating two story restaurant (with blade sign) featuring new electrical service, multiple split HVAC units, and other improvements. The kitchen located on the ground floor boasts a 30’ hood (black iron venting installed to roof), dishwasher station and an ADA bathroom in the seating area. The second floor has a prep kitchen, wet bar, 2 additional bathrooms and seating area. The basement is outfitted with 2 walk-in boxes, one being the freezer and the other the fridge. The third floor through fifth floor is residential containing 6 residential apartments. The entire building will be delivered vacant.
The subject property is positioned in a very strong and growing retail corridor with notable traffic drivers filling the block. On the south side of the street is the Gallivant Hotel (336 hotel rooms) adjacent to the East is The Longacre Theatre (1,091 seating capacity) and Hurley’s Saloon. On the North side of the street is The Ritz Plaza (479 apartments),The Crowne Plaza Times Square (795 hotel rooms) and Hershey’s Chocolate World.
BUILDING OVERVIEW:
244 WEST 48 ST
244 WEST 48TH STREET MIXED USE BUILDING FOR SALE
DELIVERED VACANT 2 Story Restaurant + 6 Apartments
INVESTMENT HIGHLIGHTS
Tax Map
Lot Size: 22’ X 84.33’ sf (irregular)
Lot SF: 1,855 sf
Location: South side of 48th Street between Broadway & 8th Avenue
All information supplied is from sources deemed reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by principals or agreed by this Company, the terms of which are available to principals or duly licensed brokers. Any square footage dimensions set forth are approximate.
• Four 2 Bedroom Apartments & two 1 Bedroom Apartments. Assuming, that existing “open format” apartments on floors 3 & 4 are divided into 2 bed 1 bath apartments
All information supplied is from sources deemed reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by principals or agreed by this Company, the terms of which are available to principals or duly licensed brokers. Any square footage dimensions set forth are approximate.
All information supplied is from sources deemed reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by principals or agreed by this Company, the terms of which are available to principals or duly licensed brokers. Any square footage dimensions set forth are approximate.
All information supplied is from sources deemed reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by principals or agreed by this Company, the terms of which are available to principals or duly licensed brokers. Any square footage dimensions set forth are approximate.
All information supplied is from sources deemed reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by principals or agreed by this Company, the terms of which are available to principals or duly licensed brokers. Any square footage dimensions set forth are approximate.
All information supplied is from sources deemed reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by principals or agreed by this Company, the terms of which are available to principals or duly licensed brokers. Any square footage dimensions set forth are approximate.
All information supplied is from sources deemed reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by principals or agreed by this Company, the terms of which are available to principals or duly licensed brokers. Any square footage dimensions set forth are approximate.
All information supplied is from sources deemed reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by principals or agreed by this Company, the terms of which are available to principals or duly licensed brokers. Any square footage dimensions set forth are approximate.
All information supplied is from sources deemed reliable and is furnished subject to errors, omissions, modifications, removal of the listing from sale or lease, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by principals or agreed by this Company, the terms of which are available to principals or duly licensed brokers. Any square footage dimensions set forth are approximate.