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43 W 46th St
New York, NY 10036 Diamond District

$10,900,000

Loft Creative Space For Sale  •  11,600 Sq Ft

Property Details

  • Property Type Loft Creative Space
  • Total Building Size 11,600 Sq Ft
  • Lot Size 0.05 ac
  • Building Class C
  • Year Built 1920
  • Cap Rate 3.67 %
  • Tenancy Multiple
  • Zoning C6-4.5, New York
100 Transit Score
97 Walk Score

Description

Presenting For Sale a Prime NYC Midtown location Office Building (near “Times Square”) ideal for an investor or user.
Address: 43 West 46th Street, NYC, NY., 10036 (Btw: 5th and 6th Ave)

Property video: https://youtu.be/DqhF67VW4J0 

Property Description:  6 Story elevator office building with a restaurant. Steps from Times Square/New Year’s Ball drop, Rockefeller Center, Radio City Hall, Theater district & 1 block from the Jewelry district.

Building features an established 3,500 SF restaurant (occupying 1st Fl, 2nd Fl, plus basement) with 5 yrs lease remaining. Building was used previously by a jewelry company, which secured the building with steel construction throughout. Floors 3-4-5 & 6 are 1,400 SF on each floor. Most upper floors can be delivered vacant for user. 
Currently, we are keeping some floors vacant for user. The rents are projected at a conservative $47.50 per SF. Rents in the area are higher.
Building has a new 15 passenger elevator (cost over $200K) installed in June 2019. Building has tremendous value in the future to convert to a mini hotel, multi-unit residential, multi-level 1 fam w/parking, medical center, jewelry building, various offices, etc. 

Please note: Air Right are not available. Otherwise, the price would be much higher.

Price: $10.9 Million

All Appointments thru Victor Weinberger
* Victor Weinberger of Re/Max Team, Inc
* 917-806-7040 (cell) 
* 917-831-4774 (eFax)
* 718-429-4400 (office)
* Web: http://www.VictorWeinberger. com
* 120,000+ agents / 6,500+ offices / 100+ countries
* Company management in business since 1969 in the same location

Highlights

Heavy foot traffic
Easy access to the 1, 2, 3, 4, 5, 6, B, D, F, M, N, Q, R, and W subway lines, and Grand Central Terminal
Public Parking Garage Across the Street and 2 more on the block
Times Square, The Theater District and Diamond district are less than 2 blocks away
Full floors available for users

Property Flyers

Financial Summary (Actual)

Net Operating Income: $400,311 (2018)
Cap Rate: 3.67 %

Major Tenants

Tenant SF Occupied Lease End Date
ABC Bartending School 1,400 SF 7/31/2022
Ipanema Restaurant 3,500 SF 3/31/2025
Mike Ruckles Voice Studio 1,400 SF 6/30/2020
Vacant Floor 1,400 SF

Amenities

  • Metro/Subway
  • Restaurant
  • Roof Terrace
  • Air Conditioning
  • Direct Elevator Exposure
  • Security System
  • Drop Ceiling
  • Hardwood Floors

Public Transportation

Commuter RailDriveWalkDistance
Grand Central Terminal Commuter Rail (Hudson, Harlem, New Haven Lines) 1 min 9 min 0.4 mi
New York Penn Station (NJT) Commuter Rail (Northeast Corridor Line, North Jersey Coast Line, Morris & Essex Morristown Line, Montclair-Boonton Line, Morris & Essex Gladstone Branch) 4 min 20 min 1.0 mi
Transit/SubwayDriveWalkDistance
47-50 Streets-Rockefeller Center Transit Stop (B, D, F, M) 2 min 4 min 0.2 mi
42 Street-Bryant Park Transit Stop (B, D, F, M) 3 min 6 min 0.3 mi
5 Avenue-Bryant Park Transit Stop (7) 1 min 7 min 0.3 mi
49 Street Transit Stop (N, R) 2 min 8 min 0.4 mi
Times Square-42 Street Transit Stop (1, 2, 3, 42 St Shuttle, 7, N, Q, R) 2 min 10 min 0.5 mi
AirportDriveWalkDistance
La Guardia Airport 15 min - 7.5 mi
Newark Liberty International Airport 29 min - 15.9 mi
John F. Kennedy International Airport 26 min - 17.2 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Victor Weinberger 917-806-7040 Victor Weinberger
Victor Weinberger 917-806-7040 Victor Weinberger