Simon Lou / Hotel Real Estate Group
Listed by Simon Lou / Hotel Real Estate Group
$38,000,000
Manhattan 60x100 Residential Development Site
Details
Property Type Land
Sub Type Residential
Square Footage 55,000
Net Rentable (SqFt) 50,000
Units 62
Cap Rate 3.95%
NOI $1,500,000
Occupancy 100%
Lease Expiration 02/28/2025
Lease Options N/A
Pro-Forma Cap Rate 7.89%
Pro-Forma NOI $3,000,000
Price per SqFt $691
Class B
Year Built 1920
Year Renovated 2010
Buildings 2
Stories 4
Lot Size (SqFt) 50,000
Zoning N/A
Investment Type Value Add
Occupancy Date 04/30/2024
Ownership N/A
Land | 50,000 SF
Marketing description
Manhattan Prime / Rare Development Opportunity
Residential Development Site
Lot: 6,000 Gross
Buildable 60,000 sq. ft.
Please contact listing broker for further information:
Hotel Real Estate Group
Simon Lou
President / CEO
445 Park Av. 9th Floor
New York NY 10022
Investment highlights
Manhattan Prime / Rare Development Opportunity
Residential Development Site
Lot: 6,000 Gross
Buildable 60,000 sq. ft.
Please contact listing broker for further information:
Hotel Real Estate Group
Simon Lou
President / CEO
445 Park Av. 9th Floor
New York NY 10022
Listing Contacts
Simon Lou / Hotel Real Estate Group
Listed by Simon Lou / Hotel Real Estate Group
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,500,000.00
$125,000.00/mo
Valuation Metrics
0
DSCR
3.95%
Cap Rate
3.95%
ROI
Map
Zoning
C2-8A CommercialSpecial CommercialLocal Service
View municipality zoning documents Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 265 uses
View all 265 uses Last updated Apr 22, 2026 For deeper zoning details, reports are available at Zoneomics
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
