141 56Th StNew York, NY 10022

Property Details for 141 56Th St

Year built

1940

Lot size

0.31 AC

Property size (Sq ft)

107,485 SF

Zone code

C5-2

Property type

Retail residential properties

APN

01311-0028

APU

13110028

Description

This exceptional retail opportunity is located at 141 E 56th St in the heart of Midtown East, New York, NY 10022. The property offers a total of 3,396 square feet of vacant commercial space, perfect for a variety of retail uses. Currently, the entire space is available for lease, presenting a unique chance to establish a flagship location or expand an existing business in a high-traffic area of Manhattan. The flexible layout allows for multiple configurations, with minimum divisible space starting at 1,126 square feet and a maximum contiguous space of 2,270 square feet. This adaptability makes it suitable for both single-tenant occupancy or division into smaller units, catering to diverse business needs. The property's address in New York County places it within a vibrant and affluent neighborhood, ensuring high visibility and foot traffic. This is an unparalleled chance to secure a prominent retail presence in one of Manhattan's most sought-after locations. The entire 3,396 square feet is currently vacant, providing immediate occupancy. Serious inquiries are encouraged to explore this exceptional retail space.

• CAP approach

  CAP return

  Valuation

  6%

  $22,035,396

  6.5%

  $20,340,366

  7%

  $18,887,482

• Comparable approach

  Method

  Valuation

  Relative Method

  $21,768,184

  Geo Method

  $21,768,184

• Alternative Use

  Use

  Valuation

  Residential

  $20,340,366

  Hospitality

  $18,631,666

  Educational

  $15,501,327

  Medical

  $16,034,442

  Retail

  $24,113,176

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7602

Longitude

-73.9689

CBSA code

35620

CBSA name

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

Property Tax & Assessments

FAQs

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