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221 E 48th St
221 East 48th Street · Multifamily Property For Sale
·
5 Units
INVESTMENT HIGHLIGHTS
Redevelopment Opportunity: Pre-war, boutique, luxury condo redevelopment opportunity with approved plans for 8,7000 SF
Tax-Class Protected 2A: Tax increases capped at 8% year over year or 30% over any given 5 year period
Ideal Location: Located on Diplomats Row within 5 blocks of the E, M, and 6 Subway lines
Blank Canvas: Currently configured as five, vacant, floor-through units; to be repositioned
Unique Layout: all units posses outdoor space/terraces overlooking Turtle Bay Garden
PROPERTY FACTS
No. Units
5
Property Type
Multifamily
Property Subtype
Apartment
Building Class
B
Lot Size
0.05 AC
Building Size
5,920 SF
No. Stories
5
Year Built
1910
UNIT AMENITIES
SITE AMENITIES
UNIT MIX INFORMATION
DESCRIPTION
NO. UNITS
AVG. RENT/MO
SF
2+1
5
-
1,250 - 1,500
PROPERTY TAXES
Parcel Number
1322-0011
Improvements Assessment
$656,131
Land Assessment
$526,500
Total Assessment
$999,148
ZONING
Zoning Code
R8B (High density residential district)
