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524 Ninth Ave 3 Unit Apartment Building $9,487,723 CAD ($3,162,574 CAD/Unit) 5.82% Cap Rate New York, NY 10018
Investment Highlights
- Fully Renovated, FM Units
- Hudson Yards / Midtown West Location
- Cell Tower Income: Ability to sell rights to cell tower income stream
Executive Summary
• Corner Building Located at Ninth Avenue & 39th Street
• Strong Retail Tenancy
• Tax Class 2A
• 3 Fully Renovated 3BR/1BA Apartments
• Cell Tower adds significant income
• Ability to sell rights to cell tower income to lower basis in property
• At the gateway to Hudson Yards, benefiting from strong visibility and continued development of the area
• All free-market residential units, providing operational flexibility and insulation from regulatory risk
• Strong Retail Tenancy
• Tax Class 2A
• 3 Fully Renovated 3BR/1BA Apartments
• Cell Tower adds significant income
• Ability to sell rights to cell tower income to lower basis in property
• At the gateway to Hudson Yards, benefiting from strong visibility and continued development of the area
• All free-market residential units, providing operational flexibility and insulation from regulatory risk
Property Facts
| Price | $9,487,723 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $3,162,574 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.02 AC |
| Cap Rate | 5.82% | Building Size | 3,689 SF |
| No. Units | 3 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1901 |
| Property Subtype | Apartment | ||
| Zoning | C1-7A:R8A - C1-7A Zoning NYC · Fontan Architecture C1-7A Zoning is a Local Retail and Local Service Contextual Commercial Zoning District in NYC. | ||
| Price | $9,487,723 CAD |
| Price Per Unit | $3,162,574 CAD |
| Sale Type | Investment |
| Cap Rate | 5.82% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.02 AC |
| Building Size | 3,689 SF |
| No. Stories | 4 |
| Year Built | 1901 |
| Zoning | C1-7A:R8A - C1-7A Zoning NYC · Fontan Architecture C1-7A Zoning is a Local Retail and Local Service Contextual Commercial Zoning District in NYC. |
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Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (91)
Property Taxes
| Parcel Number | 0763-0001 | Improvements Assessment | $356,183 CAD |
| Land Assessment | $336,859 CAD | Total Assessment | $693,042 CAD |
Property Taxes
Parcel Number
0763-0001
Land Assessment
$336,859 CAD
Improvements Assessment
$356,183 CAD
Total Assessment
$693,042 CAD
(212) 544-9500
x100
Contacts
-
Christoffer Brodhead -
Benjamin Vago, Esq. -
George Morel -
Ariel Property Advisors
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524 Ninth Ave
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