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414 W 42nd St 12 Unit Apartment Building £3,519,418 (£293,285/Unit) New York, NY 10036
INVESTMENT HIGHLIGHTS
- Significant Value- Add Opportunity
- Stable In-Place Cash-Flow
- Dynamic Midtown West Location Between Hudson Yards & Hell’s Kitchen
- Long Term Retail Tenant (39 Years of Occupancy)
- Ideal Unit Mix for Highest Rental PPSF (Studio & 1 BR)
- Unrivaled Transportation Connectivity
EXECUTIVE SUMMARY
JLL has been retained on an exclusive basis to arrange for the sale of 414 West 42nd Street, a 12-unit mixed-use property in the Midtown West neighborhood of Manhattan. The five-story, 9,680 GSF property contains 11 residential units, of which 6 are free market (55%) and 5 are rent stabilized (45%), on top of one ground floor retail unit. The ground floor retail space is occupied by Chez Josephine, a vibrant French-American restaurant that has been famously operating out of the same space since 1986.
Ideally located along Theatre Row, it quickly became a popular destination for pre- and post-theater dining. Located in the heart of Midtown West, 414 West 42nd Street benefits immensely from its’ proximity to several major transportation options. Two blocks to the east is the Times Square-42nd Street Subway station, which services the A C E 1 2 3 B D F M N Q R W 7 subway lines that extend throughout Manhattan and the outer boroughs. The Port Authority Bus Terminal is positioned directly across the street, providing access to daily commuters throughout many areas outside of Manhattan. Ten minutes to the south is Penn Station, which contains several NYC subways as well as the NJ Transit and Long Island Railroad. In addition, car travel in this area is very convenient due to the nearby west side highway and the Lincoln Tunnel.
Ideally located along Theatre Row, it quickly became a popular destination for pre- and post-theater dining. Located in the heart of Midtown West, 414 West 42nd Street benefits immensely from its’ proximity to several major transportation options. Two blocks to the east is the Times Square-42nd Street Subway station, which services the A C E 1 2 3 B D F M N Q R W 7 subway lines that extend throughout Manhattan and the outer boroughs. The Port Authority Bus Terminal is positioned directly across the street, providing access to daily commuters throughout many areas outside of Manhattan. Ten minutes to the south is Penn Station, which contains several NYC subways as well as the NJ Transit and Long Island Railroad. In addition, car travel in this area is very convenient due to the nearby west side highway and the Lincoln Tunnel.
PROPERTY FACTS
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Walk Score®
Excellent pedestrian access (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Ideal For Cyclists (92)
PROPERTY TAXES
| Parcel Number | 1051-0040 | Improvements Assessment | £960,094 |
| Land Assessment | £90,461 | Total Assessment | £1,050,554 |
PROPERTY TAXES
Parcel Number
1051-0040
Land Assessment
£90,461
Improvements Assessment
£960,094
Total Assessment
£1,050,554
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414 W 42nd St
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