348 East 51st Street 2
Description
Platinum Properties is pleased to present a distinctive four story walk-up building for sale (the “Property). With close proximity to subway trains (6,E,M) as well as Grand Central Terminal and United Nations Plaza, this building is centrally located within the Turtle Bay/Midtown East neighborhood.
The Property consists of 5 residential units, fully furnished with modern finishes, including hardwood floors and designer bathrooms. The kitchens feature stainless steel appliances and include cookware and utensils. Property also features amenities such as a 35 foot rear yard (approximately 700 sf), rooftop deck, 24-hour surveillance system, and an on-site laundry room.
Please inquire directly to obtain further details about this property.
The Opportunity
1. 3-Year Triple Net Lease Expires 03/01/18 at $25,000/month
2. Single Family Townhome
Listing Price: $7,995,000.00
Building Size: 20 x 64
Building ASF: 6,400
Block/Lot: 33/1343
Additional Air Rights: 2,711
Projected Income & Expense
INCOME
Residential Income: $300,000
Total Gross Income: $300,000
EXPENSES
Real Estate Tax (2014): $92,277
Net Profit: $300,000
Cap rate: 3.75%
NEIGHBORHOOD
Midtown East
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