7 W 24th St
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7 W 24th St
7 Unit Block of Flats £11,774,080 (£1,682,011/Unit) 4% Net Initial Yield New York, NY 10010
Investment Highlights
- Prime Flatiron Location
- Skylights
- Exposed Brick and Tin Ceilings
- High Ceiling Spacious Lofts
- Private Decks
- Ground Floor Retail
Executive Summary
Superbly located and fully occupied, 7 West 24th Street is a five-story mixed-use building offering a turnkey income-producing investment or future development opportunity. The building includes ground-floor retail and six residential apartments above.
Built in 1925, this prime Flatiron gem measures 24 feet wide on a 98-foot-deep lot. The ground-level retail is occupied by a thriving dermatology practice. The residential units include two full-floor two-bedroom apartments and four half-floor one-bedroom apartments, all well-updated with great character and ceiling height.
Leases have built-in escalations and the building has development potential.
Setup available upon request.
Built in 1925, this prime Flatiron gem measures 24 feet wide on a 98-foot-deep lot. The ground-level retail is occupied by a thriving dermatology practice. The residential units include two full-floor two-bedroom apartments and four half-floor one-bedroom apartments, all well-updated with great character and ceiling height.
Leases have built-in escalations and the building has development potential.
Setup available upon request.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£585,239
|
£70.14
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£585,239
|
£70.14
|
| Taxes |
£88,133
|
£10.56
|
| Operating Expenses |
£35,560
|
£4.26
|
| Total Expenses |
£123,693
|
£14.82
|
| Net Operating Income |
£461,546
|
£55.31
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £585,239 |
| Annual Per SF | £70.14 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £585,239 |
| Annual Per SF | £70.14 |
| Taxes | |
|---|---|
| Annual | £88,133 |
| Annual Per SF | £10.56 |
| Operating Expenses | |
|---|---|
| Annual | £35,560 |
| Annual Per SF | £4.26 |
| Total Expenses | |
|---|---|
| Annual | £123,693 |
| Annual Per SF | £14.82 |
| Net Operating Income | |
|---|---|
| Annual | £461,546 |
| Annual Per SF | £55.31 |
Property Facts
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1.5 | 2 | £7,850 | 1,400 - 1,450 |
| 1+1 | 4 | £3,729 | 725 |
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Walk Score ®
Walker's Paradise (98)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (92)
zoning
| Zoning Code | K4 (K4 - Predominant Retail with Other Uses Presently retail front dermatology office with six residential rental units above.) |
| K4 (K4 - Predominant Retail with Other Uses Presently retail front dermatology office with six residential rental units above.) |
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Core Group Marketing LLC
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7 W 24th St
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