3 30Th StNew York, NY 10001

Property Details for 3 30Th St

Year built

1910

Lot size

0.06 AC

Property size (Sq ft)

10,595 SF

Zone code

M1-6

Property type

Office buildings

APN

00832-0037

APU

8320037

Description

This exceptional five-story, 10,595-square-foot commercial building at 3 W 30th Street in Manhattan's NoMad neighborhood presents a unique investment opportunity. Built in 1910 and renovated in 2015, the property is currently vacant, offering immediate flexibility for redevelopment or repositioning. The building sits on a 2,425-square-foot lot and is zoned M1-6, allowing for a wide range of commercial uses. Significant development potential exists, with 14,098 square feet of unused air rights, increasing the maximum usable floor area to 24,690 square feet. The current floor area ratio (FAR) is 4.29, while the permitted FAR is 10. This prime location, just blocks from Madison Square Park and the Empire State Building, offers excellent connectivity to major subway lines and is surrounded by high-end hotels, tech firms, and popular restaurants. The asking price is $16,500,000, with annual property taxes of $75,099 (Tax Class 4). The building consists of five units across five stories, offering a blank canvas for a new owner to maximize its potential. This is an ideal opportunity for investors seeking both immediate value and long-term growth in a rapidly evolving Manhattan neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $1,751,670

  6.5%

  $1,616,926

  7%

  $1,501,431

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,384,343

  Geo Method

  $1,384,343

• Alternative Use

  Use

  Valuation

  Residential

  $2,004,988

  Hospitality

  $1,836,559

  Educational

  $1,527,995

  Medical

  $1,580,545

  Retail

  $2,376,882

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7464

Longitude

-73.9869

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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