520 44Th StNew York, NY 10036

Property Details for 520 44Th St

Year built

1910

Lot size

0.06 AC

Property size (Sq ft)

4,850 SF

Zone code

R9

Property type

Auto shops

APN

01072-0045

APU

10720045

Description

This exceptional property presents two compelling investment options in the vibrant Hell's Kitchen neighborhood of Manhattan. Option one involves the acquisition of 520 West 44th Street, a vacant, 4,850-42,350 square foot auto shop on a 2,500-17,500 square foot lot. Currently zoned R9, this "as-is" site offers significant potential for redevelopment, with buildable square footage ranging from 18,875 square feet for residential use to 25,000 square feet for a combination of residential and community facility uses. The asking price is $8,500,000, translating to a price per square foot of $1,752.58. Option two encompasses an assemblage of four properties (514, 518, and 520 West 44th Street, and 515 West 43rd Street), totaling a substantial 17,500 square foot lot. This larger assemblage presents an even more significant development opportunity, with potential buildable square footage of 105,000 square feet for residential use and 175,000 square feet for a combination of residential and community facility uses. Both options are located in a highly desirable area, situated between Times Square and Hudson Yards, offering unparalleled access to Manhattan's dynamic cultural scene and robust transportation infrastructure. The property's vacant status allows for immediate development commencement, making it an attractive proposition for discerning investors seeking a prime location and substantial development potential in one of New York City's most sought-after neighborhoods. The property is located at 520 W 44th St, New York, NY 10036.

• CAP approach

  CAP return

  Valuation

  6%

  $1,178,719

  6.5%

  $1,088,049

  7%

  $1,010,331

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,596,926

  Geo Method

  $1,596,926

• Alternative Use

  Use

  Valuation

  Residential

  $917,810

  Hospitality

  $840,709

  Educational

  $699,460

  Medical

  $723,515

  Retail

  $1,088,049

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7612

Longitude

-73.9958

CBSA code

35620

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].