3760-3768 156Th StNew York, NY 10032

Property Details for 3760-3768 156Th St

Property size (Sq ft)

47,130 SF

Property type

Mixed-use properties

Property subtype

Apartment buildings

Description

This exceptional six-story mixed-use building, located at the prime corner of 156th Street and Broadway in New York, NY 10032, presents a lucrative investment opportunity. The property boasts 47,130 square feet on an 11,160 square foot lot (99.92' x 100'), with a substantial 7.20 FAR and significant air rights (33,222 sq ft). The building comprises 37 units: 32 residential units (12 free-market) and 5 commercial units, offering a diverse income stream. The building's expansive 100-foot Broadway frontage provides exceptional retail visibility. With a current asking price of $8,800,000 ($237,838 per unit and $187 per square foot), this property offers a compelling 7.19% cap rate. The property benefits from convenient access to public transportation, being just one block from the 1 train. The tax class is 2, with an assessment of $1,836,630 and real estate taxes of $229,579 (2024/2025). The building dimensions are 99' x 89'. This is a rare opportunity to acquire a well-positioned, high-performing asset in a rapidly developing area of Manhattan. The permitted zoning is R8/C2-4. This property offers significant upside potential for future development and appreciation.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.8334

Longitude

-73.9448

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