Updated 14 days ago
Hell's Kitchen, Manhattan | Eighth Ave & Ninth Ave
8,000 Square FeetIncome Property

$6,500,000
floors / apts5 / 5
Lot Size25'x100'
Built Size25'x72'
ZoneC6-2
Building TypeLow-Rise
RE Taxes$44,271
Price Per SF
$813

Building Amenities

  • Voice Intercom
  • Bike Storage
  • Courtyard

Property Description

Cushman & Wakefield has been exclusively retained to arrange for the sale of 354 West 44th Street, a mixed-use building comprised of five apartments and two floors of commercial space spread between a front building and a rear carriage house. The buildings are located on the south side of West 44th Street between Eighth and Ninth Avenues in the heart of the Theater District in Manhattan’s Midtown West neighborhood. The apartments are free market and currently leased at below market rents as they were leased up during the height of the Covid-19 pandemic. The two-story retail space in the front building is currently vacant and presents an ideal opportunity for a commercial user to take advantage of the high levels of foot traffic on this West 44th Street corridor located just steps from Times Square. The building is tax class 2A and each apartment is individually submetered for electric and each has its own boiler. As a result, operating expenses are inherently limited here as tax increases are capped due to their protected tax class status and tenants pay for the majority of their expenses. Each tenant benefits from a number of amenities including in-unit washer/dryer, a shared, furnished courtyard and bike storage. 354 West 44th Street is located within the Special Clinton Historic District and is zoned C6-2 (R8 Equivalent). The building is within immediate walking distance to the A, C, E, 1, 2, 3, N, R, Q and W trains and is surrounded by many of New York City’s top attractions including Hudson Yards, Times Square, Central Park, Columbus Circle and the Javits Center.

Listing History

Now
01/11/2022
$6,500,000
Initial Price by Andrew Berry
Cushman & Wakefield
2022

Building Details

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts5/5
Learn More About the Building

Transit and Citi Bike

Subway

42 St-Port Authority Bus Terminal
0.13 miles
Times Sq-42 St
0.29 miles
50 St
0.33 miles
49 St
0.34 miles
50 St
0.39 miles

Citi Bike

9 Ave & W 45 St
0.09 miles
W 45 St & 8 Ave
0.1 miles
W 42 St & 8 Ave
0.11 miles
0
24
0

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: 79721TH