365-367 W 46th St - Apartments FOR SALE


New York, NY 10036- Times Square
$13,000,000 USD
212-776-1200
365-367 W 46th St, New York, NY for Sale
$13,000,000 USD
Apartments - FOR SALE
1/36
null | Request Cap Rate

365-367 W 46th St
New York, NY 10036
Times Square


HIGHLIGHTS

  • Delivered 100% vacant in the heart of restaurant row, offering immediate repositioning or redevelopment flexibility.
  • Approx. 9,974 square feet of unused air rights provide meaningful long-term upside.

OVERVIEW

Lee & Associates NYC is pleased to present exclusively for sale the mixed-use asset located at 365–367 West 46th Street, New York, NY 10036 (the “Property”). Situated on the north side of West 46th Street between Eighth and Ninth Avenues, the Property is positioned in the heart of Midtown West’s Restaurant Row, one of Manhattan’s most active dining and nightlife corridors. The Property occupies a 33’ x 100’ lot and is improved with a vacant four-story mixed-use building totaling approximately 9,976 square feet. The former Sushi Seki restaurant spans the basement, ground floor, and second floor, featuring full kitchen infrastructure, food preparation and storage areas, bar seating, and dining capacity for approximately 240 patrons. The third and fourth floors were previously utilized for short-term rentals and are configured with six rooms per floor. Zoned R8 with a C1-5 overlay, the Property benefits from a residential FAR of 6.02 and a total buildable area of approximately 19,950 square feet, leaving roughly 9,974 square feet of unused air rights. Delivered vacant, the offering provides a compelling opportunity for a developer, user, or investor to reposition, redevelop, or convert the asset to maximize value in a high-demand Midtown location. With strong fundamentals, full vacancy, and significant development upside, 365–367 West 46th Street represents a rare value-add opportunity in one of Manhattan’s most established commercial corridors.

FOR SALE DETAILS

PRICE

$13,000,000 USD

PRICE/SF

$1,304 USD /SF

# OF UNITS

11

PRICE/UNIT

$1,181,818

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,314 SF

ZONING

R8, C1-5

APN/PARCEL ID

1037-0005,1037-0105

ASK ABOUT THIS PROPERTY

Thomas GamminoLee & AssociatesMore Info
212-776-1200

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Thomas GamminoLee & AssociatesMore Info
212-776-1200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.