350 38Th StNew York, NY 10018

Property Details for 350 38Th St

Year built

1910

Property size (Sq ft)

29,628 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This six-story, 29,628 square foot commercial building at 350 West 38th Street in New York City's Garment District presents a compelling value-add investment opportunity. Built in 1910, the property boasts a prime location between Eighth and Ninth Avenues, offering exceptional natural light and air. Currently configured with multi-tenant occupancy (two tenants), the building features six floors of commercial commissary space, including fully vented kitchens with ample cold storage, and office/light industrial space. A freight elevator with direct sidewalk access enhances convenience. The property includes 19,752 square feet of unused air rights, significantly increasing development potential. Its C6-4M, GC zoning allows for diverse uses, including residential or hospitality conversions, maximizing the unused floor area ratio (FAR). The asking price is $13,500,000 ($455.65/sq ft). Situated in the heart of the Garment District, the building benefits from proximity to Hudson Yards, Times Square, Midtown South, top restaurants, high-end shopping, and excellent mass transit access. This location is highly desirable for caterers, tourists, office tenants, and residents alike. The 4,938 square foot lot provides a solid foundation for future development or repositioning. This is a rare chance to acquire a well-located, versatile property with significant upside potential in a thriving Manhattan neighborhood.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7557

Longitude

-73.9939

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