431 West 48th Street, Manhattan, New York:
Situated in the heart of Hell’s Kitchen, Manhattan, 431 West 48th Street is a prime building offering significant investment potential. Built in 1920 with some recent renovations, this 6,560 sq. ft. building sits on a 2,510 sq. ft. lot. The property’s prim...
431 West 48th Street, Manhattan, New York:
Situated in the heart of Hell’s Kitchen, Manhattan, 431 West 48th Street is a prime building offering significant investment potential. Built in 1920 with some recent renovations, this 6,560 sq. ft. building sits on a 2,510 sq. ft. lot. The property’s prime location provides convenient access to public transportation, including major subway lines (A, C, E), bus routes, and bike lanes, as well as an array of dining, entertainment, and cultural venues, including Broadway and off-Broadway theaters. Nearby, residents can enjoy Central Park, Hudson River Park, and several local parks.
The property currently has huge upside potential in rents and monetizing full ceiling-height basement and incredible roof with views. Zoned R8, offering potential development opportunities with approximately 8,000 Sq Ft of unutilized air rights. Multiple areas for an experienced operator to maximize earning potential and reimagine spaces. The area attracts a diverse tenant base of professionals and students ensuring high occupancy rates and consistent rental income. Moreover, Hell’s Kitchen is known for its property value appreciation, making this an attractive long-term investment with upside.
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