Douglas Elliman Commercial has been retained on an exclusive basis to secure the sale of two walk-up rent stabilized buildings and adjacent licensed parking lot located in the Midtown West / Hudson Yards neighborhood.
507 Ninth Avenue and 509 Ninth Avenue are comprised of 16 apartments with a total building area of approximately 16,640 square feet.
405 West 38th Street has been operating as a parking lot serving Lincoln Tunnel commuters for many profitable years. The site can continue as a Licensed Parking Lot or can be developed. There are approximately 10,000 buildable square feet.
The properties are situated at the Northwest corner of West 38th Street and Ninth Avenue, adjacent to the Dyer Deck-Over in support of Port Authority rebuild.
The opportunity offers an investor and development company early access to what will be the next enhancement of Manhattan West connecting to the waterfront at Hudson Yards.