7 36Th StNew York, NY 10018

Property Details for 7 36Th St

Year built

1924

Lot size

0.11 AC

Property size (Sq ft)

62,135 SF

Zone code

M1-6

Property type

Banks

APN

00838-0036

APU

8380036

Description

This 16-story, 72,092 square foot office building at 7 West 36th Street in New York City's Midtown offers a compelling investment opportunity. Built in 1924, the property sits on a 4,938 square foot lot with approximately 50 feet of frontage. Currently operating under a ground lease with a fixed annual rate of $72,000, and in the second of four renewal terms expiring in July 2091 (lease details available in the data room). The building features 17 commercial units, 16 of which are currently occupied, boasting a weighted average lease term (WALT) of approximately 4.2 years. Notable tenants include Natasha Accessories (floors 2 and 8) and CBT Partners (floors 11, 15, and 16). The ground floor houses a popular kosher restaurant. One unit on the 14th floor is currently vacant, presenting a value-add opportunity for prospective buyers. The building's prime Midtown location offers excellent accessibility to major transportation hubs like Penn Station, Grand Central Terminal, and 34th Street-Herald Square, as well as proximity to renowned tourist attractions including the Empire State Building and Madison Square Garden. The M1-6 zoning provides flexibility for future development. This property presents strong in-place cash flow with potential for further revenue growth through lease-up of the vacant space and potential renovations. The substantial square footage and prominent frontage in this highly desirable Midtown location make this a rare and attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $15,100,974

  6.5%

  $13,939,361

  7%

  $12,943,692

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,458,768

  Geo Method

  $20,458,768

• Alternative Use

  Use

  Valuation

  Residential

  $11,758,372

  Hospitality

  $10,770,606

  Educational

  $8,961,018

  Medical

  $9,269,201

  Retail

  $13,939,361

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7502

Longitude

-73.9843

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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