TOWNHOUSE FOR SALE- MIDTOWN WEST-1031 EXCHANGE OPPORTUNITY

5021

Property ID

2000 SqFt

Size

Description

PROPERTY DESCRIPTION:  MIDTOWN WEST

ASKING PRICE $4,899,000

A beautiful Anglo Italianate style 20′ wide 4 story townhouse built with wonderful architectural detail. Ground floor has a fabulous landscaped 850 sq. ft garden. First floor back unit has a large enclosed balcony overlooking the garden. Can convert to a truly incredible single-family home or live and earn with 8 residential free market units. Building will be delivered vacant, was used for furnished short term rental (30 days or more). Its size is 20 × 54 situated on a 20 × 100 lot. Maximum floor area permitted is 12,088.16 sq. ft. High ceilings, dramatic arched doors, hardwood floors, four fireplaces with original marble mantels. Located on a lovely tree lined block in Clinton, close to transportation, terrific restaurants, and a great neighborhood. What an incredible opportunity. Significant conversion potential & user Potential.

Clinton Area Special District

Far: 6.02 now, total 12,088.16 feet allowed, 60-85 feet high

Far 7.20 if 20% of built dedicated to affordable housing approved by HPD you can build 14,457 square ft or as high as 21 stories (or total 215 ft high)

No setback required, however back yard requires 30 ft, back yard now 

Backyard 46ft x 20 ft

PROPERTY HIGHLIGHTS

  • Four story multifamily building with full renovated basement.

  • Delivered vacant

  • Conversion potential

  • Single user potential

  • Historical and Prestigious Clinton Area

  • Near all transportation, theaters, and restaurants

  • Potential single-user multifamily or conversion project

  • Quiet tree-lined block

  • Potential built up to 215 feet

 

Monthly Bills and Income Potential:

Monthly Property Taxes: $4083.00             

Monthly Water and Sewer: $1100.00                          

Monthly Utilities: Electric Gas: $1142.00,

Monthly Insurance payment: $75.00           

Monthly Super Services: $400.00                

Monthly Garbage service: $500.00 

Misc. Expenses: 1000.00            

Total Monthly Bills: $8300.00

Yearly Expenses: $99,600

 

 

REVENUE PROJECTED

Gross monthly income: $26,500(or Higher)

Potential Gross Rental Yearly Income: $318,000(8 Rental Units)

Less Vacancy & Credit loss: (3%): $9540

Net Operating Income: $208,860

Cap Rate: 5.2%

 

 

 

 

3D PRESENTATION

 

For 3D Tours of each unit, please follow the links below:

https/my.matterport.com/show/?m=xGbLvqAmv5w&brand=0

https://my.matterport.com/show/?m=KRNVA6ihYcz&brand=0

https://my.matterport.com/show/?m=jB2H3w7261a

https://my.matterport.com/show/?m=SwEhUwybevJ

https://my.matterport.com/show/?m=rbfmTLRLiDR

https://my.matterport.com/show/?m=sUM24xrQsv1

https://my.matterport.com/show/?m=TYhHSDur6jK

https://my.matterport.com/show/?m=8PAxDcZrgi

PROPERTY FEATURES

Building Count one

Floor Count 4 plus basement, Unit Count 8

Building Frontage 20

Building Depth 54

Residential Building Floor Area 4000

Lot Frontage 20

Lot Depth100

Lot Area Soft 2,008

Residential Floor Area Ratio 6.02

Facilities Floor Area Ratio 6.50

Building Lot Type 5

Irregular Lot Code

Land Use 02

Building Class C2

Proximity Code 3

Basement Type 5

Neighborhood Community District 104

City Council District 3

Police Precinct 18

Fire Company E040

Health Area 4700

Sanitation District Borough 1

Sanitation Subsection 3B

Local School District School District 02 Zoning

Special Purpose District 1 CL

Split Boundary Zone Indicator N

Zoning District 1 R8

Geography 1

Block 1061 Lot 12

Borough Block Lot 1010610012

Nearby Schools (within attendance boundary)

PS 111 ADOLPH S OCHS  •  0.09 mi

440 W 53rd St, New York, NY 10019

Public • Elementary • Grades PK to 5

 

CONTACT INFORMATION

LISTING BROKER

ROBERT FRIEDMAN

OFFICE:212-837-1835 EX 228,

CELL: 917-517-3243,

EMAIL: rcrealtynyc@gmail.com

SHOWINGS

RICHARD DENARDO- LICENSE N.Y.S SALESPERSON

CELL: 347-924-0955

EMAIL: rdeanrdo.rcrealty@gmail.com

 

VIEWING PROPERTY BY APPOINTMENT ON SUNDAYS FROM 12:00 PM TO 3:00 PM

CALL Richard DeNardo

 

 

Disclaimer: All material herein is intended for information purposes only and has been compiled from a source deemed reliable. Though information is believed to be correct, it is presented subject to error or, omissions, changes, or withdrawal without notice. RC Realty Group of New York Inc. is not responsible for errors or omissions, information deemed reliable from owner or source.

 

 

Address

Address: 447 W 51st St, New York, NY 10019, USA
  • Province / State: New York
  • City / Town: New York
  • Postal code / ZIP: 10019
Get Directions - Open on Google Maps
  • Property ID 5021
  • Price $4,899,000
  • Property Type SFR House
  • Year Built 1920
  • Size 2000 SqFt
  • Land area 1 Acres
  • Sellers Motivation OPPORTUNITY TO EXPAND PROJECT
  • Number of Units 8 PLUS SUPER APARTMENT

Map View

Contact

Robert Friedman

Property Seller
917-517-3243
rcrealtynyc@gmail.com
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