43 West 54th Street New York, NY 10019
Steven Cohen Robert Varvara 212.836.1029 212.605.9393 [email protected] [email protected] Property Information
Located in the Midtown Shopping District off Fifth Avenue, 43 West 54th Street is a rare opportunity to own a fantastic investment property. Situated on a 16.5' x 100' lot this property is comprised of prime retail space, currently occupied by Connolly's Pub & Restaurant, and six residential apartments. West 54th between Fifth and Sixth Avenues is one of the most desirable blocks in Midtown for high-end shopping and eateries. The Museum of Modern Art ("MoMA"), The University Club, Manolo Blahnik, and several prominent art galleries are on the same block. Please email for more details.
Steven Cohen & Robert Varvara The Corcoran Group - 660 Madison Avenue - 18th Floor - New York, NY 10065 - 212.836.1029 43 West 54th Street Mixed-Use Building
Address 43 West 54th Street Location North side of 54th Street between Fifth Avenue and Sixth Avenue
Block 1270 Lot 11
Lot Size 16.5’ x 100.42’ (Approx.) Building Size First Floor: 16.0’ x 99.9’ (Approx.) Floors 2-5: 16.0’ x 73.0’ (Approx.)
Stories 5 Elevator Yes Gross SF First Floor: 1,598 SF (Approx.) Floors 2-5: 4,672 SF (Approx.) 6,270 SF (Approx.) Zoning C5-P, MiD FAR 8.0 (Residential/Commercial) Lot Sizes 1,657 SF (Approx.)
Total Buildable SF 13,256 SF (Approx.) Less Existing SF 6,270 SF (Approx.) Available Air Rights 6,986 SF (Approx.)
Neighborhood Central Midtown
Est. Assessment $977,394 (19/20) Est. RE Taxes $123,269 (19/20)
Asking Price: $9,950,000
Steven Cohen & Robert Varvara The Corcoran Group - 660 Madison Avenue - 18th Floor - New York, NY 10065 - 212.836.1029 43 West 54th Street Mixed-Use Building
REVENUE Floor Type Size Tenant/Status LXP Monthly Annual Rent Rent 43 West 54th Street
Ground/Parlor Restaurant 2,766 Connolly’s Pub* M-to-M $30,275 $363,300
3A** Residential 475 FM/Vacant n/a $2,300 $27,600
3B** Residential 485 FM/Vacant n/a $2,400 $28,800
4A** Residential 475 FM/Vacant n/a $2,325 $27,900
4B** Residential 485 FM/Vacant n/a $2,425 $29,100
5A** Residential 475 FM/Vacant n/a $2,350 $28,200
5B** Residential 485 FM/Vacant n/a $2,450 $29,400
Total $44,525 $534,300
Expenses (estimated based on 3yr average)
Real Estate Taxes (19/20) $123,269
Water/Sewer $29,761
Insurance $11,095
Gas $10,552
Common Area Electric $5,163
Repairs & Maintenance $9,650
Super $5,700
Total $195,190
Projected Gross Annual Income: $534,300 Less Expenses: $195,190 Projected Net Operating Income: $339,110
*Connolly’s Pub is currently month-to-month. They would like to remain and lock in a long-term lease. ** All residential apartments are currently vacant. All figures shown are projected based on capital improvements.
A lines are in the front of the building (south facing)
Steven Cohen & Robert Varvara The Corcoran Group - 660 Madison Avenue - 18th Floor - New York, NY 10065 - 212.836.1029 Steven Cohen & Robert Varvara The Corcoran Group - 660 Madison Avenue - 18th Floor - New York, NY 10065 - 212.836.1029