351 W 47Th St, New York, NY

Name: 351 W 47Th St, For Sale in New York - Zoocasa
Brand: Platinum Forbes Global Properties
SKU: RLS20099602
Price: 3995000 USD

House

For Sale

Listed price in listed location currency (USD).

$3,995,000

18100

MLS® RLS20099602

Overview

Key Facts

Type Multi Family

Levels Residential

Size 8165 sqft

Garage

Taxes $55,404

Days Active 24

Lot Size 2100 SF

Approx. Age 1920

Avg. Price Per Sqft $489

MLS® Number RLS20099602

Property Address: 351 W 47th St, New York, NY, 10036-2410

Average square foot calculated using Size range provided by listing agent.

Description

351 West 47th Street in Midtown West, Manhattan. A rare, turnkey value-add opportunity with all major capital improvements already complete. Strong in-place NOI delivers an immediate return on investment, with one vacant unit poised to increase income by almost a third upon lease-up. The coveted Tax Class 2B designation further positions this asset for meaningful long-term appreciation as Manhattan's rental market continues its upward trajectory. Extensive mechanical upgrades have been completed across two years, significantly reducing short-term capital expenditure requirements: 2026 Improvements Complete basement renovation Onsite laundry facilities 30-amp electrical breaker upgrade Superintendent's office New hallway flooring and freshly painted common areas Prior Improvements New boiler and intercom system (2024) Full heating system conversion to natural gas with new gas line (2024) Electrical service upgrade (2024) New gas meter bank (2023) Roof replacement (2022) Cornice and facade restoration (2023) Verizon Fios fiber installation (2023) Upgraded hallway and emergency lighting (2023) Two new water heaters (2023, 2021) New service doors throughout - main entrance, vestibule, roof access, and both basement points Situated in the heart of Midtown West, 351 West 47th offers convenient access to multiple subway lines, major employment centers, Ninth Avenue's dining corridor, Broadway theaters, and Hudson River Park. The location supports strong rental demand and long-term asset performance. Classic New York architecture meets modernized interiors, creating an appealing product with strong long-term lessee retention. The vacant unit also presents an owner-occupancy option, with the remaining units generating income sufficient to support carrying costs. This is a clean, well-capitalized asset in a supply-constrained submarket - condition, location, and upside in a one offering.

MLS® NumberRLS20099602

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1920

BasementOther

Driveway

Garage Spaces

Heat

A/C

Extras

Map

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