Living / Multi-housing

515 West 47th Street

515 W 47th St New York, New York United States 10036-2211
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1901
Building Area Gross
Land Area Gross ()
Number of units 16
Occupancy 1.0 %

Asset Description

JLL has been retained on an exclusive basis to arrange for the sale of 515 West 47th Street, a 25’ wide, 5 story walk-up located on the north side of West 47th Street between 10th and 11th Avenues. The building is configured as 15 Free Market apartments and one retail space which is leased to The Jolly Goat Coffee Bar (Est. 2014) through March of 2025. The approximately 10,675 Sq. Ft. building was completely gut renovated in 2013 with high quality materials that have been well maintained since the original work was completed.


The apartments are configured as 1 one-bedroom, 10 two-bedrooms, 1 three-bedroom and 3 four-bedrooms. The ground floor rear apartments feature private outdoor spaces as do the units on the 5th floor which have private roof terraces. The apartments are currently leased for an average of $4,024 per month or $1,677 per bedroom. In regard to infrastructure, the building is heated via a gas fired boiler and is individually metered for electric. 

Investment Highlights

  • 100% Free Market
  • Fully Gut Renovated in 2014 / Pristine Condition
  • Post-COVID rental rebound
  • Light value-add potential though cosmetic apartment upgrades
  • Ideal share apartments for students or young professionals
  • Proximity to Midtown Manhattan & Hudson Yards
  • In Unit Stacked Washer Dryer
Last Updated Date: 11 Aug 2022

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Last Updated Date: 11 Aug 2022

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