Updated 7 years ago
Off Market
105 West 55th Street
Midtown West, Manhattan | Ave of the Americas & Seventh Ave
54,838 Square FeetIncome Property
$55,000,000
floors / apts10 / 53
Lot Size83'x100'
ZoneC6-6
Building TypeLow-Rise
RE Taxes$672,680
Price Per SF
$1,003
Building Amenities
- Voice Intercom
- Elevator
- Laundry Room
Property Description for 105 West 55th Street
Cushman & Wakefield has been exclusively retained to arrange for the sale of 105 West 55th Street—a 10-story mixed use rental building located on the north side of 55th street between Sixth and Seventh Avenues. The property features 2 passenger elevators and contains 52 residential apartments and 5 commercial units.
The residential breakdown of the property is 69% free market units and 31% rent stabilized with the unit mix being comprised of 1 studio apartment, 16 one-bedrooms, 34 two-bedrooms, and 1 three-bedroom. Nearly half of the units are greater than 1,000 square feet, thus creating an opportunity to optimize the efficiency of individual unit layouts. The building uniquely offers both short and long-term upside; on average, the free market units are achieving just $52 per square foot allowing an investor to capitalize on short term increases in rent through relatively minor upgrades within the units. The rent stabilized component of the property offers long term potential either through buyouts of existing tenants or through unit turnover over time.
The commercial component of the space consists of two retail units and 3 commercial units located within the lobby of the building. All of the tenants have been in their spaces long term, ensuring stable cash flow. The lease expirations all occur within the next couple of years and are strategically staggered so that there aren’t multiple vacancies at any given time.
Listing History for 105 West 55th Street
Now
04/12/2019
POM by Robert Burton
Cushman & Wakefield
2019
Building Details for 105 West 55th Street
OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessElevator
Floors/Apts10/53
Transit and Citi Bike
Subway
57 St
0.08 miles
57 St-7 Av
0.14 miles
7 Av
0.16 miles
5 Av/53 St
0.28 miles
50 St
0.29 miles
Citi Bike
W 55 St & 6 Ave
0.01 miles
W 56 St & 6 Ave
0.07 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: 73511TH
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