Theatre District - Times Square
18 Jan, 2021
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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.
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.