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a.k.a. 468 West 47th Street 668 10th Ave 11 Unit Apartment Building $16,810,424 CAD ($1,528,220 CAD/Unit) 2.50% Cap Rate New York, NY 10036
Investment Highlights
- Excellent Corner Location in Mid-Town West Side Neighborhood.
Executive Summary
Prominently LOCATED on the southeast corner of Tenth Avenue and West 47th Street. This property represents a prime mixed-use investment and redevelopment opportunity in the HEART of MIDTOWN’S WEST/HELL’S KITCHEN. The site offers approximately 25.08 feet of FRONTAGE along Tenth Avenue and extends 100.42 feet along West 47ty Street , totaling roughly 2,518 square feet of land area.
The existing improvement consists of two interconnected buildings: a five-story mixed-use structure facing Tenth Avenue (668 10th Avenue) and a two-story rear building fronting West 47th Street (468 West 47th Street). The front building features a ground-floor restaurant tenant with eight residential apartments above, while the rear building includes an Italian restaurant on the first floor and a three-bedroom apartment on the second floor with a separate from West 47th Street.
The existing improvement consists of two interconnected buildings: a five-story mixed-use structure facing Tenth Avenue (668 10th Avenue) and a two-story rear building fronting West 47th Street (468 West 47th Street). The front building features a ground-floor restaurant tenant with eight residential apartments above, while the rear building includes an Italian restaurant on the first floor and a three-bedroom apartment on the second floor with a separate from West 47th Street.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$788,061
|
$87.22
|
| Other Income |
$17,854
|
$1.98
|
| Vacancy Loss |
$89
|
$0.01
|
| Effective Gross Income |
$805,827
|
$89.19
|
| Taxes |
$246,881
|
$27.32
|
| Operating Expenses |
$146,280
|
$16.19
|
| Total Expenses |
$393,161
|
$43.52
|
| Net Operating Income |
$412,666
|
$45.67
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $788,061 |
| Annual Per SF | $87.22 |
| Other Income (CAD) | |
|---|---|
| Annual | $17,854 |
| Annual Per SF | $1.98 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $89 |
| Annual Per SF | $0.01 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $805,827 |
| Annual Per SF | $89.19 |
| Taxes (CAD) | |
|---|---|
| Annual | $246,881 |
| Annual Per SF | $27.32 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $146,280 |
| Annual Per SF | $16.19 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $393,161 |
| Annual Per SF | $43.52 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $412,666 |
| Annual Per SF | $45.67 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 1056-0061 | Total Assessment | $1,949,306 CAD (2026) |
| Land Assessment | $720,047 CAD (2026) | Annual Taxes | $246,881 CAD ($27.32 CAD/SF) |
| Improvements Assessment | $1,229,259 CAD (2026) | Tax Year | 2024 |
Property Taxes
Parcel Number
1056-0061
Land Assessment
$720,047 CAD (2026)
Improvements Assessment
$1,229,259 CAD (2026)
Total Assessment
$1,949,306 CAD (2026)
Annual Taxes
$246,881 CAD ($27.32 CAD/SF)
Tax Year
2024
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Presented by
Full Score Realty Inc.
a.k.a. 468 West 47th Street | 668 10th Ave
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