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202 W 40th St
49,058 SF 86% Leased Office Building New York, NY 10018 $17,000,000 ($347/SF)
Executive Summary
Key Highlights:
Strategic Location: Located just steps away from Times Square, this property benefits from high foot traffic and exceptional visibility, making it ideal for a variety of commercial uses. The area is surrounded by major retailers, restaurants, and cultural attractions, ensuring a vibrant atmosphere for tenants and visitors alike.
Strong Occupancy and Income: The building maintains a robust occupancy rate, with a total annual income of approximately $1,644,970 and a net operating income (NOI) of around $1,147,379. Many tenants are on leases with built-in escalations, providing a reliable income stream.
Zoning Flexibility: Zoned M1-6/GC with a Floor Area Ratio (FAR) of 10.00 (13.80 built), this property offers substantial development potential, allowing for creative uses or future expansion.
Recent Renovations: Significant improvements have been made to the property, including a recent investment of $700,000 for local law compliance, enhancing its value and appeal.
Investment Potential: With current market conditions, the property represents a unique opportunity to acquire a well-located asset in one of Manhattan's most desirable neighborhoods. There is considerable upside potential in increasing rents as leases expire, particularly given the strong demand for space in this area.
This property presents a rare chance for investors to acquire a prime commercial building in a high-demand location. For further information or to schedule a viewing, please contact us today.
Property Facts
Amenities
- 24 Hour Access
- Central Heating
- High Ceilings
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Full Floor Opportunity with Direct Elevator Access, Massive Display Window Facing the Street, 2 Private Bathrooms, and Windows on all 4 Sides
Located on the 5th floor of 202 W 40th St, this full-floor space offers unparalleled flexibility and natural light. Featuring windows on all four sides, it boasts an abundance of daylight, creating an open and airy atmosphere throughout. The space includes two private bathrooms, ensuring convenience and privacy for your team. Direct elevator access enhances accessibility, making it easy for both employees and visitors. Additionally, the back room is fully built out with large windows, offering a bright and spacious area for meetings or creative work. This is the ideal space for businesses looking for a premium, customizable office in a prime Midtown location.
Situated on the 9th floor of 202 W 40th St, this move-in-ready space is designed to impress and inspire. With an abundance of natural light streaming through its expansive windows, the space creates a vibrant and inviting work environment. Beautifully designed with modern finishes, it offers the perfect blend of functionality and style. Flexible lease terms make it a convenient choice for businesses of all sizes. Located in a prime area with unparalleled transportation options, this space ensures effortless accessibility for your team and clients. Ready for immediate occupancy, it’s the ideal choice for a seamless move and a fresh start.
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 200 | 2,850 SF | Office/Retail | - | Now |
| 5th Floor | 2,850 SF | Office | Full Build-Out | Now |
| 9th Fl-Ste 903 | 989 SF | Office | Full Build-Out | Now |
2nd Fl-Ste 200
| Size |
| 2,850 SF |
| Space Use |
| Office/Retail |
| Condition |
| - |
| Available |
| Now |
5th Floor
| Size |
| 2,850 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
9th Fl-Ste 903
| Size |
| 989 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 200
| Size | 2,850 SF |
| Space Use | Office/Retail |
| Condition | - |
| Available | Now |
Full Floor Opportunity with Direct Elevator Access, Massive Display Window Facing the Street, 2 Private Bathrooms, and Windows on all 4 Sides
5th Floor
| Size | 2,850 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
Located on the 5th floor of 202 W 40th St, this full-floor space offers unparalleled flexibility and natural light. Featuring windows on all four sides, it boasts an abundance of daylight, creating an open and airy atmosphere throughout. The space includes two private bathrooms, ensuring convenience and privacy for your team. Direct elevator access enhances accessibility, making it easy for both employees and visitors. Additionally, the back room is fully built out with large windows, offering a bright and spacious area for meetings or creative work. This is the ideal space for businesses looking for a premium, customizable office in a prime Midtown location.
9th Fl-Ste 903
| Size | 989 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
Situated on the 9th floor of 202 W 40th St, this move-in-ready space is designed to impress and inspire. With an abundance of natural light streaming through its expansive windows, the space creates a vibrant and inviting work environment. Beautifully designed with modern finishes, it offers the perfect blend of functionality and style. Flexible lease terms make it a convenient choice for businesses of all sizes. Located in a prime area with unparalleled transportation options, this space ensures effortless accessibility for your team and clients. Ready for immediate occupancy, it’s the ideal choice for a seamless move and a fresh start.
PROPERTY TAXES
| Parcel Number | 0789-0044 | Improvements Assessment | $1,530,000 |
| Land Assessment | $864,000 | Total Assessment | $2,394,000 |
PROPERTY TAXES
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202 W 40th St
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