34 36Th StNew York, NY 10018

Property Details for 34 36Th St

Year built

1960

Lot size

0.05 AC

Property size (Sq ft)

11,280 SF

Zone code

M1-6

Property type

Office properties

Property subtype

Office buildings

APN

00837-0065

APU

8370065

Description

This exceptional six-story executive office building at 34 West 36th Street, situated in Midtown South between 5th and 6th Avenues, presents a compelling investment opportunity. The property boasts a substantial 11,280 to 19,750 square feet of space, currently configured with open floor plans allowing for flexible use and customization to suit various business needs. The asking price is $8,250,000, translating to a price per square foot of $731. The master lease expires in December 2024, providing a significant opportunity for repositioning the property or owner-user occupancy. The building's strategic location offers unparalleled access to major transportation hubs, including Penn Station, and numerous subway lines (1,2,3,B,D,F,M,N,Q,R,W), as well as the LIRR and Amtrak. Nearby attractions such as Madison Square Garden, the Empire State Building, and Bryant Park further enhance its desirability. Adding to its potential, the property includes 8,470 square feet of available air rights, presenting significant upside for future development. The lot size is 1,975 square feet, and the permitted zoning is M1-6. This is a rare chance to acquire a well-located, adaptable office building in a thriving New York City market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,864,921

  6.5%

  $1,721,466

  7%

  $1,598,504

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,473,845

  Geo Method

  $1,473,845

• Alternative Use

  Use

  Valuation

  Residential

  $2,134,617

  Hospitality

  $1,955,298

  Educational

  $1,626,785

  Medical

  $1,682,732

  Retail

  $2,530,554

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7502

Longitude

-73.9853

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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