$5,700,000
Updated 5 years ago
Off Market

418 West 51st Street

Hell's Kitchen, Manhattan | Ninth Ave & Tenth Ave

11 Rooms11 Beds6 Baths6,200 Square FeetMulti-Family

$5,700,000
floors / apts5 / 4
Lot Size25'x100'
Built Size25'x54'
ZoneR8
Building TypeTownhouse
RE Taxes$37,200
Price Per SF
$919

Outdoor space and views

  • Backyard
  • Terrace
  • Central Park
  • City Views

Building Amenities

  • Voice Intercom

Property Description for 418 West 51st Street

1125 sq ft back yard perfection! built-in BBQ 3 bedroom 2 bathroom duplex - 2400sqft. And collect rent from 3 floor-through apartments (1200sqft each) that are all free market (can be delivered vacant). Perfect for life with a large private back yard, collect rent from 3 apartments. Inplace proforma is an attractive 4.0%, with apartments renting below market. All apartments are free market. levelgroup is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of this multi-family residential property located just off 9th Avenue on West 51st Street in the prestigious Hells Kitchen neighborhood of Manhattan. The property is zoned R8 and has the potential to add roughly 10,000 square feet to the existing 5,140 sq ft. Just steps from the Theater District and Times Squares restaurants, entertainment, and transport. 5-minute walk to Central Park, the Columbus Circle bustle, and the Lincoln Center the world's cultural epicenter. 418 West 51st Streets location and convenience cannot be beaten. The large scale of this offering, truly uncommon, provides developers with the critical mass necessary to create a unique residence in what has become New York Citys most sought after neighborhood. Nearby transportation includes: C,E,1,2,3,7,N,R,W,B,D trains & Port Authority. As the long history of New York City neighborhoods such as Soho, Chelsea, Meat- Packing and Hudson Yards would suggest, residents, being priced out of mature neighborhoods will always travel along transportation lines to neighboring areas where they can live more comfortably. With the finest new restaurants, cafes, bars, art galleries, retail stores, and creative work lofts, Hells Kitchen / Clinton has emerged as a fast-growing and most sought after real estate market in all of New York City. From an investment perspective, 418 W 51st Street presents a rare opportunity to purchase real estate in a rapidly appreciating neighborhood at a significant discount. This presents an ideal scenario for a forward-looking investor. Property Details Block: 1060 Lot: 43 Lot Dimensions 25.0 × 100.0 Zoning: R8 FAR as Built: 2.05

Building Details for 418 West 51st Street

OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts5/4
Learn More About the Building

Transit and Citi Bike

Subway

50 St
0.21 miles
50 St
0.34 miles
49 St
0.41 miles
7 Av
0.41 miles
57 St-7 Av
0.45 miles

Citi Bike

W 50 St & 9 Ave
0.05 miles
W 50 St & 10 Ave
0.14 miles

Contact Agent

Contact Agent

Steven Moss
Level Group

Hell's Kitchen | Manhattan

Quick Profile

There is some mystery surrounding Hell’s Kitchen and how it got its name. There’s the tale about two policemen discussing how horrendous the neighborhood was back in 1880’s. The rookie cop turned to the veteran cop and said, “this place is hell.” The veteran cop replied, “No, this is hell’s kitchen.” Some say it's named after a notorious 19th century motorcycle gang. Even the historians will tell you the neighborhood's name has dubious origins. 

Regardless of how it got its name, Hell’s Kitchen is here to stay.

Hell’s Kitchen is an iconic neighborhood on the west side of Manhattan. Its boundaries are 34th and 59th streets and 8th Avenue to the Hudson River. The neighborhood has a dense urban feel with plenty of bars, bodegas, restaurants and coffee shops. It’s inhabited by an eclectic mix of young professionals, long term residents from the old days, LGBQT community and members of the performing arts community - due to the highest number of off Broadway theatres in all of New York CIty. 

From the early 1800’s to the 1980’s, Hell’s Kitchen held the title for one of the toughest neighborhoods in the city. In its early history it was populated by poor working class Irish and street gangs. Riots, violence, and crime were not uncommon. During prohibition times it was said that Hell’s Kitchen had more speakeasies than children. 

Several attempts of neighborhood rebranding have taken place over the years. Clinton, Midtown West, and even the short-lived Hell’s Canyon are a few of the replacement names that have been used. Hell’s Kitchen has a lot of grit and no shortage of fortitude. A trendy name change seems doubtful. 

Hell’s Kitchen benefited greatly from the Times Square clean up in the 1990’s. When crime rates lowered and adult theatres and prostitution disappeared, Times Square became less sleazier. Soon after, Hell’s Kitchen changed. The days of Gangsters, Irish immigrants, and rough and tumble housing tenements are part of its storied history. They’ve been replaced with bars, bodegas, restaurants, off broadway theatres, and luxury buildings. The recent completion of Hudson Yards and the Highline extension has brought new life into Hell’s Kitchen 

Low-rises, brownstones, row houses and 5 to 6 floor walk ups with studio and one bedroom apartments are common in Hell’s Kitchen. The local zoning laws from previous years kept the building heights on the lower side. Over the past decade, developers have been granted exceptions to building height zoning laws and created more modern highrise developments.

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: 68415TH