105 W 55th Street

For Sale$36,000,000

105 W 55TH Street, NEW YORK, New York, 10019, NEW YORK, NY 10019

  • Other

105 W 55th Street, NEW YORK, NY 10019 - Other Space

105 W 55th Street is located at 105 W 55TH Street, NEW YORK, New York, 10019 in the Theatre District - Times Square neighborhood, NY, NEW YORK, 10019. The Class D7 Other building was completed in 1917 and features a total of 54,838 Sqft.

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Details

  • Price $36,000,000
  • City NEW YORK
  • Neighborhood Theatre District - Times Square
  • Zip Code 10019
  • Market Manhattan
  • Property Type Other
  • Property Size 54,838 Sqft
  • Lot Size 0.19 Acre
  • Building Class D7
  • Year Built 1917
  • Date Updated 18 Jan, 2021

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Description

Overview

Cushman & Wakefield has been exclusively retained to arrange for the sale of 105 West 55th Street—a 10-story, 83’ wide, mixed-use rental building located on the north side of 55th street, just off of the corner of Sixth Avenue. The property features 70,000 SF of unused air rights, 2 recently refurbished passenger elevators ($660k+), and contains 52 large residential apartments and 5 commercial units.

Location

The building is centrally located in Midtown Manhattan within short walking distance of Rockefeller Center, Radio City Music Hall, the Time Warner Center, the Museum of Modern Art, Times Square, and most Broadway Theatres. The building is perfectly situated for any professional who works in Midtown Manhattan and prefers walking to the office, especially now during COVID.

Short-Term Investment Opportunity

105 West 55th Street is an ideal repositioning opportunity. With Median Household Income over $150,000, the building can be updated with modern amenities and renovated to attract top income earners as prospective tenants. Roughly half of the units are larger than 1,000 square feet which creates the opportunity to optimize the efficiency of individual unit layouts and dramatically increase rental income. With 34-two bedroom units, 16-one bedroom units, 1-three bedroom unit and 1-studio apartment, the building can serve a wide variety of luxury tenants.

Long-Term Development Opportunity

FREQUENTLY ASKED QUESTIONS

What is the total square footage of 105 W 55th Street?

105 W 55th Street totals 54,838 square feet.

When was this property built?

105 W 55th Street was built in 1917.

Theatre District - Times Square Demographics

The average household income in zip code 10019 is $162,689, from a total of 25,428 households. In terms of employment, there are 97.00 % white-collar and 3.00 % blue-collar jobs in zip code 10019.

Population

  • Total Population16,825
  • Male Population(52.7 %) 8,875
  • Female Population(47.3 %) 7,950
  • Median Age38.00

Income/Financial

  • Average Household Income$134,434
  • Median Household Income$95,384
  • Median Income Under 25$42,482
  • Median Income 25-44$142,906
  • Median Income 45-64$80,204
  • Median Income Over 65$33,272

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Robert Burton

Cushman & Wakefield

(212) 660-7770

Bobby Carrozzo

Cushman & Wakefield

(212) 589-5118