249 49Th StNew York, NY 10017

Property Details for 249 49Th St

Year built

1900

Lot size

0.04 AC

Property size (Sq ft)

4,344 SF

Zone code

R8B

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

01323-0021

APU

13230021

Description

This exceptional mixed-use property at 249 East 49th Street in New York City's coveted Turtle Bay neighborhood presents a unique investment opportunity. The 4-story, 4,344 square foot building, constructed in 1900, features a ground-floor Japanese restaurant and vacant upper floors ready for immediate occupancy. The second and third floors offer versatile retail or office space, while the fourth floor comprises a four-bedroom apartment with spacious living, kitchen, and dining areas overlooking a private backyard. The property is zoned R8B, allowing for a maximum buildable square footage of 7,200, presenting significant future development potential. Currently generating a Net Operating Income (NOI) of $187,444 and boasting a 3.07% cap rate, this asset offers a compelling return on investment. The asking price is $6,100,000, translating to $1,404.24 per square foot. Located between Second and Third Avenues, this property benefits from its proximity to Grand Central Station and the upscale residential character of the surrounding area. The 0.04-acre lot provides a solid foundation for a variety of uses, making it an ideal acquisition for both seasoned investors and discerning entrepreneurs. All floors, except the ground floor restaurant, will be delivered vacant.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7546

Longitude

-73.9693

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].