$3,899,000
Updated 2 years ago
Off Market

431 West 48th Street

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

32 Rooms9 Beds8 Baths6,560 Square FeetIncome Property

$3,899,000
floors / apts4 / 8
Lot Size25'x100'4"
Built Size25' wide
ZoneR8
Building TypeTownhouse
RE Taxes$42,000
Price Per SF
$594

Building Amenities

  • Voice Intercom

Property Description for 431 West 48th Street

Tremendous 25 ft. 8 family building with upside. All apartments are large. Rents are well below market and some can be duplexed. Of the three stabilized units two are on the top floor and one on the ground of the 4 story walk up. There are approximately 8000 ft of air rights and a clean dry full height basement with street access that can be monetized for at least $1200 a month. This is in a vibrant neighborhood brimming with multiple international hospitality options. Plenty of room for the savvy to reconfigure financially as well as structurally. In-place Income - $206,664 2024 Income - $323,340 Contact me for income and expenses.

Listing History for 431 West 48th Street

Now
04/29/2024
TOM by Chris Halliburton
Compass
04/03/2024
Back on the Market by Chris Halliburton
Compass

Building Details for 431 West 48th Street

OwnershipIncome Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1901
Floors/Apts4/8
Learn More About the Building

Transit and Citi Bike

Subway

50 St
0.28 miles
42 St-Port Authority Bus Terminal
0.39 miles
50 St
0.4 miles
49 St
0.43 miles

Citi Bike

W 47 St & 10 Ave
0.09 miles
W 47 St & 9 Ave
0.12 miles

Contact Agent

Contact Agent

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: 93065TH