410 WEST 36TH STREET 6 STORY, 23 UNIT MIXED-USE BUILDING 20 Residential Units & 3 Commercial Units
410 WEST 36TH STREET 6 STORY, 23 UNIT MIXED-USE BUILDING 20 Residential Units & 3 Commercial Units. 410 WEST 36TH STREET 1 410 WEST 36TH STREET - PROPERTY FEATURES Penn Station Madison Square Park The Highline ASKING PRICE: $10,250,000 Property Features: Location: The south side of West 36th Street between 9th & 10th Avenues. Block & Lot: 733-44 Lot Dimensions: 25' x 98.75' Lot Square Footage: 2,469 sq ft (approx.) Building Dimensions: 25' x 87' Building Square Footage: 11,455 sq ft (approx.) Stories: 6 Residential Units: 20 Commercial Units: 3 Total Units: 23 Gross Residential Square Footage: 9,546 sq ft (approx.) Net Square Footage: 8,114 sq ft (approx.) less 15% loss factor Avg. Net Unit Size: 406 sq ft (approx.) Gross Commercial Square Footage: 1,909 sq ft (approx.) Zoning: C1-7A / HY Residential FAR: 6.02 (Wide Street) Total Buildable Sq. Ft.: 14,863 sq ft (approx.) Minus Existing Structure: 11,455 sq ft (approx.) Available Air Rights: 3,408 sq ft (approx.) Assessment (17/18): $1,185,615 Taxes (17/18): $152,849 Financial Summary: GROSS ANNUAL REVENUE: $732,043 PRICE PER SQUARE FOOT: $895 VACANCY LOSS & EXPENSES: $240,171 PRICE PER UNIT: $445,652 NET OPERATING INCOME: $491,872 CAPITALIZATION RATE: 4.80% 2 PROPERTY OVERVIEW Property Description Cushman and Wakefield, Inc. has been retained on an exclusive basis to arrange for the sale of 410 West 36th Street, a 6-story mixed-use walkup located in Hudson Yards, one of the most dynamic neighborhoods in Manhattan. With record levels of equity pouring into real estate in the immediate neighborhood, this is a rare investment opportunity to purchase a well maintained, core Manhattan multifamily property that has potential to capitalize on upside in both residential and commercial rents.
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