Listed by Ariel Property Advisors
$8,600,000
47-51 40th St
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 58,800
Units 60
Cap Rate 7.24%
NOI $622,234
Price per SqFt $146
Stories 6
Lot Size (SqFt) 14,000
Zoning R6
Multifamily | 60 Units | $143,333/unit
Marketing description
47-51 40th Street in Sunnyside,
NY is conveniently located
near the 40th Street–Lowery
Street station on the New York
City Subway 7 line, providing
quick access to Midtown
Manhattan. Multiple local
bus routes also serve the
neighborhood, making daily
commuting and regional
travel easy
Investment highlights
- A prominent six-story, elevator-serviced apartment building spanning approximately 58,800 gross square feet
- Situated on the east side of 40th Street, just 0.2 miles from the 7-subway line for an easy Manhattan commute
- Clean and well-maintained building with strong collections
- Features a strong mix of both fair-market and rent-stabilized apartments
- The property is a short walk to the iconic Sunnyside Arch on Queens Boulevard and the historic Sunnyside Gardens historic district
- Cash-flowing asset generating approximately $1,300,000 in gross annual income
Listing Contacts
Listed by Ariel Property Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$622,234.00
$51,852.83/mo
Valuation Metrics
0
DSCR
7.24%
Cap Rate
7.24%
ROI
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