351 W 47TH Street, Manhattan, NY 10036
351 W 47TH Street, Manhattan, NY 10036
351 W 47TH Street, Manhattan, NY 10036
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Randy Reis

Randy Reis

+1(917) 435-4870
Listing Courtesy of Platinum Forbes Global Properties
$3,995,000
Est. payment /mo
18 Beds
10 Baths
8,165 SqFt
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UPDATED:

Key Details

Property Type Multi Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,165 sqft

Price per Sqft $489

Subdivision Hell'S Kitchen

MLS Listing ID RLS20099602

Bedrooms 18

Full Baths 10

HOA Y/N No

Year Built 1920

Annual Tax Amount $55,404

Property Sub-Type Multi Family

Property Description

351 West 47th Street in Midtown West, Manhattan. A rare, turnkey value-add opportunity with all major capital improvements already complete. Strong in-place NOI delivers an immediate return on investment, with one vacant unit poised to increase income by almost a third upon lease-up. The coveted Tax Class 2B designation further positions this asset for meaningful long-term appreciation as Manhattan's rental market continues its upward trajectory. Extensive mechanical upgrades have been completed across two years, significantly reducing short-term capital expenditure requirements: 2026 Improvements Complete basement renovation Onsite laundry facilities 30-amp electrical breaker upgrade Superintendent's office New hallway flooring and freshly painted common areas Prior Improvements New boiler and intercom system (2024) Full heating system conversion to natural gas with new gas line (2024) Electrical service upgrade (2024) New gas meter bank (2023) Roof replacement (2022) Cornice and facade restoration (2023) Verizon Fios fiber installation (2023) Upgraded hallway and emergency lighting (2023) Two new water heaters (2023, 2021) New service doors throughout - main entrance, vestibule, roof access, and both basement points Situated in the heart of Midtown West, 351 West 47th offers convenient access to multiple subway lines, major employment centers, Ninth Avenue's dining corridor, Broadway theaters, and Hudson River Park. The location supports strong rental demand and long-term asset performance. Classic New York architecture meets modernized interiors, creating an appealing product with strong long-term lessee retention. The vacant unit also presents an owner-occupancy option, with the remaining units generating income sufficient to support carrying costs. This is a clean, well-capitalized asset in a supply-constrained submarket - condition, location, and upside in a one offering.

Location

State NY

County New York

Rooms

Basement Other

Interior

Interior Features Smoke Free

Fireplace No

Laundry Building Other

Exterior

Exterior Feature None

Pool Building None

View Y/N No

View Other

Porch None

Private Pool Yes

Building

Dwelling Type Townhouse

Story 1

New Construction No

Others

Pets Allowed Pets Allowed

Tax ID 1038-0007

Ownership None

Monthly Total Fees $4, 617

Special Listing Condition Standard

Pets Allowed Building Yes, No

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Randy Reis

Randy Reis

+1(917) 435-4870

Team Leader | License ID: 40RE1176716

Team Leader License ID: 40RE1176716

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