Updated 7 years ago
Off Market
244 West 48th Street
Midtown West, Manhattan | Broadway & Eighth Ave
15 Rooms6 Beds9 Baths6,859 Square FeetMixed Use
$10,300,000
floors / apts5 / 8
Lot Size22'x84'3"
Built Size22' wide
ZoneC6-5
Building TypeLow-Rise
RE Taxes$85,428
Price Per SF
$1,502
Building Amenities
- Voice Intercom
Property Description for 244 West 48th Street
This 5-story plus full basement Mixed-Use Building is strategically located at the prime Times Square/Theater District retail area with high foot traffic. Building features 2-floors + basement of a popular restaurant, operated by the owner and 6 apartments above. First time in 40 years available for sale, it will be delivered absolutely vacant with no key money for the existing restaurant business. Apartments are currently owner- occupied and are free market.
The building was recently upgraded with the new boiler, new air conditioning system and heating system throughout.
New electrical lines and separate meters have been installed. New Gas line. 2nd floor kitchen was added to the restaurant.
The restaurant occupies 2 full floors and a basement. It has a bar, 2 kitchens, plus a large basement with a kitchen, walk-in refrigerator, large freezer, 2 new boilers. and lots of storage space. Restaurant is fully equipped and decorated. It is currently operating as a popular Thai restaurant, which has been in business at this location for 40 years.
Total size is 6,858.6 SF (not including the basement)
Listing History for 244 West 48th Street
Now
12/24/2019
POM by Elena Ravich
Compass
12/13/2019
$10,300,000 [-$300,000] [2.8%]
Price Drop by Elena Ravich
Compass
Building Details for 244 West 48th Street
OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts5/8
Transit and Citi Bike
Subway
50 St
0.13 miles
49 St
0.14 miles
50 St
0.16 miles
42 St-Port Authority Bus Terminal
0.29 miles
7 Av
0.3 miles
Citi Bike
8 Ave & W 49 St
0.07 miles
Broadway & W 48 St
0.1 miles
Midtown West | Manhattan
Quick Profile
People, yellow cabs, bright lights, big crowds, 24-hour eateries and just about every type of store imaginable. it’s a frenetic buzz that only a few places on the globe can offer. And that’s just one part of it. Midtown West is the birthplace of hustle and bustle and it’s bordered by 42nd to the south, 59th Street to the north, 8th Avenue to the west, and 5th Avenue to the east.
Midtown West is not as residential as other neighborhoods in Manhattan. The bustling part of Midtown West is 42nd Street between Times Square and 8th Avenues where the retail and office space, theatres, and attractions are. No matter what time of day it is, you'll always find activity there.
Residential buildings lay near the western end of Midtown West beginning around 8th Avenue.
Location, location, location. Of all the neighborhoods and enclaves of Manhattan, Midtown West is perhaps the most commutable place to live, visit, or work. It contains one of the highest concentrations of subway lines in the Big Apple. A, C, E, N, Q, R, 1, 2, 3, and the 7 train. The transit system feeds the streets with commuters from everywhere. The Port Authority Bus Terminal and nearby Penn Station adds to the number of people that flood Midtown on any given day.
It’s one of the easiest places in all of Manhattan to navigate because it’s a true grid. Uptown, street numbers go up. Downtown, street numbers go down. It’s the same concept from east to west. You really can’t get lost in Midtown West.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 77426TH
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