Current Configuration: 4 Residential Units + 1 Retail Storefront

Annual Gross Income: $465,000

2024 Property Taxes: Only $96,000

Lot Size: 20×100.42ft

Building Footprint: 20×50ft (approx. 3,540SF, 3 stories)
Development & Upside Potential
Zoning: R8 (High-Density Residential) with C1-5 Commercial Overlay

• Residential FAR up to 6.02 under R8 zoning – allows building ~6× the lot area (~12,000SF)

• C1-5 overlay Commercial FAR of 2.0 within R8, equating to combined FAR equal to the higher of the two (6.02)

Buildable Area: Over 12,000SF of potential space – ideal for expansion, redevelopment, or mixed-use conversion.

Key Highlights

• Turn-key income: Immediate cash flow with long-term tenants (+ retail), plus two vacant units for flexible use

• Tax-efficient ownership: Annual tax burden only ~$96K, low compared to income

• Transferrable development rights: Rare Manhattan plot with substantial upside under current zoning

• Midtown core location: Minutes from Broadway, Times Square, transit, dining, and entertainment © 2025 OneKey™ MLS, LLC