A $6.2M Stunner in Hell's Kitchen
August 14, 2017
Hell’s Kitchen is one of the most dynamic neighborhoods in New York City, and nestled on West 50th Street is an incredible deal for a savvy investor. 458 West 50th Street is everything you could be looking for in a property in New York City. A classic brick building, 458 West 50th Street has six units tucked inside its stately four stories.
458 West 50th Street hasn’t been available for purchase since 2012, but we are excited to announce that Jules Borbely and Adam Mahfouda of Oxford Property Group have the exclusive listing for this incredible space. Priced at $6.2M, the owner would consider financing the deal for the right buyer.
Built in 1910 and bursting with possibilities, 458 West 50th Street has all of the old-world charms of some of Manhattan’s wonderful historic buildings. With gorgeous lintels framing each window and an intricate cornice topping the building, there is much to love about this beautiful building.
With three 3-bedroom units, two 1-bedroom units and a studio to round out the portfolio, 458 West 50th Street would make an ideal investment property or owner-occupied home. The airy and spacious units are spread out through 5,200 square feet, making each apartment feel open and light. The building is able to be delivered vacant or fully rented, which would generate over $315,000 a year.
Hell’s Kitchen has a fantastic food scene, with exciting restaurants and vibrant nightlife. 458 West 50th Street is located just steps away from Times Square, making it an ideal location to host friends and family when they come to down so they can enjoy Broadway shows and that classic New York City ambiance. Centrally located near many subway lines, getting to and from home at 458 West 50th Street is quick and easy. Just a few blocks away from Central Park, 458 West 50th Street is positioned at the intersection of Manhattan-chic and bucolic park greens.
The building comes with buildable air rights, which means that 458 West 50th Street can soar ever higher. Currently zoned as residential, the building is also permitted to be transformed into commercial space or a hotel. The possibilities are endless with 458 West 50th Street, but we know it has an exciting future.
With over 100 years in the neighborhood, 458 West 50th Street is a historic building, even if it lacks the designation. That makes the recent renovation of the space all the more attractive, as it means that while cosmetic improvements can always be made, the structural integrity of the building is sound.
If you are ready to move on this deal in the heart of New York City, give our offices a call today. With some of the lowest interest rates available, now is the perfect time to buy into one of the world’s best markets. We’ll be thrilled to work with you every step of the way as you become the new owner of a wonderful gem of real estate as you make your own mark in the City that Never Sleeps.
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