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365-367 W 46th St 11 Unit Apartment Building $18,041,530 CAD ($1,640,139 CAD/Unit) 6% Cap Rate New York, NY 10036
Investment Highlights
- Delivered 100% vacant in the heart of restaurant row, offering immediate repositioning or redevelopment flexibility.
- Approx. 9,974 square feet of unused air rights provide meaningful long-term upside.
Executive Summary
Lee & Associates NYC is pleased to present exclusively for sale the mixed-use asset located at 365–367 West 46th Street, New York, NY 10036 (the “Property”). Situated on the north side of West 46th Street between Eighth and Ninth Avenues, the Property is positioned in the heart of Midtown West’s Restaurant Row, one of Manhattan’s most active dining and nightlife corridors.
The Property occupies a 33’ x 100’ lot and is improved with a vacant four-story mixed-use building totaling approximately 9,976 square feet. The former Sushi Seki restaurant spans the basement, ground floor, and second floor, featuring full kitchen infrastructure, food preparation and storage areas, bar seating, and dining capacity for approximately 240 patrons. The third and fourth floors were previously utilized for short-term rentals and are configured with six rooms per floor.
Zoned R8 with a C1-5 overlay, the Property benefits from a residential FAR of 6.02 and a total buildable area of approximately 19,950 square feet, leaving roughly 9,974 square feet of unused air rights. Delivered vacant, the offering provides a compelling opportunity for a developer, user, or investor to reposition, redevelop, or convert the asset to maximize value in a high-demand Midtown location. With strong fundamentals, full vacancy, and significant development upside, 365–367 West 46th Street represents a rare value-add opportunity in one of Manhattan’s most established commercial corridors.
The Property occupies a 33’ x 100’ lot and is improved with a vacant four-story mixed-use building totaling approximately 9,976 square feet. The former Sushi Seki restaurant spans the basement, ground floor, and second floor, featuring full kitchen infrastructure, food preparation and storage areas, bar seating, and dining capacity for approximately 240 patrons. The third and fourth floors were previously utilized for short-term rentals and are configured with six rooms per floor.
Zoned R8 with a C1-5 overlay, the Property benefits from a residential FAR of 6.02 and a total buildable area of approximately 19,950 square feet, leaving roughly 9,974 square feet of unused air rights. Delivered vacant, the offering provides a compelling opportunity for a developer, user, or investor to reposition, redevelop, or convert the asset to maximize value in a high-demand Midtown location. With strong fundamentals, full vacancy, and significant development upside, 365–367 West 46th Street represents a rare value-add opportunity in one of Manhattan’s most established commercial corridors.
Property Facts
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,201,663 CAD | |
| Land Assessment | $1,124,126 CAD | Total Assessment | $3,325,789 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$1,124,126 CAD
Improvements Assessment
$2,201,663 CAD
Total Assessment
$3,325,789 CAD
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365-367 W 46th St
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