354 West 56th Street

For SaleContact for pricing

354 West 56th Street, New York, NY 10019

  • Multi-Family

354 West 56th Street, New York, NY 10019 - Multi-Family Space

354 West 56th Street is located at 354 West 56th Street in the Clinton - Hell's Kitchen neighborhood, NY, New York, 10019. The Multi-Family building features a total of 13,500 Sqft.

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Details

  • Sale Price Contact for pricing
  • City New York
  • Neighborhood Clinton - Hell's Kitchen
  • Zip Code 10019
  • Market Manhattan
  • Property Type Multi-Family
  • Property Size 13,500 Sqft
  • Lot Size 0.07 Acre
  • Date Updated 06 Dec, 2019

Description

Ariel Property Advisors presents 354 West 56th Street, a 30’ wide, multifamily building located on West 56th Street between 8th and 9th Avenue in Midtown West.

354 West 56th Street is 13,500 gross square feet and consists of 65 SRO units and 2 below-grade commercial units. Of the 65 SRO Units, only 13 units are currently occupied allowing for the ability to immediately add value through property upgrades and unit enhancements. The property also retains 4,638 square feet of air rights for additional development.

The property is situated three blocks from the 1, 2, A, B, C, and D subway lines at the West 59th Street Columbus Circle station, allowing for immediate access throughout Manhattan and the outer boroughs. The property is within very close proximity to Central Park, Time Warner Center, Carnegie Hall, and Mount Sinai West Medical Center. Additionally, the property’s central location is near the West 57th Street supertall corridor, including 111 West 57th, a new luxury condominium development overlooking Central Park.

With its centralized location, immediate value-add ability, and unique conversion potential, 354 West 56th Street presents a prime acquisition opportunity for multifamily investors and residential developers in the heart of Midtown West.

Clinton - Hell's Kitchen 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 Population45,338
  • Male Population(52.5 %) 23,803
  • Female Population(47.5 %) 21,535
  • Median Age36.70

Income/Financial

  • Average Household Income$133,875
  • Median Household Income$98,833
  • Median Income Under 25$44,643
  • Median Income 25-44$136,295
  • Median Income 45-64$86,373
  • Median Income Over 65$41,631

Commercial Brokers Register now to add listings

Victor Sozio

Ariel Property Advisors

(212) 544-9500 x 12

Matthew L. Gillis

Ariel Property Advisors

(212) 544-9500 x 42

Howard Raber

Ariel Property Advisors

(212) 544-9500 x 23

Sean O'Brien

Ariel Property Advisors

(212) 544-9500 x 73