Investment Overview

THE OFFERING Marcus & Millichap is pleased to exclusively offer 344 West 46th Street, a 4-story, mixed-use building located on the south side of West 46th Street between 8th and 9th Avenue. This 11-unit property is comprised of approximately 6,528 square feet with 25’ of Frontage on Restaurant Row in the Hell’s Kitchen neighborhood. The property is zoned R8, C1-5 and has 5,568 of unused Air Rights. THE OPPORTUNITY Having been owned and operated by the same family for over 20 years, 344 West 46th Street represents a rare opportunity to acquire a mix-used, value add asset in the heart of Midtown West. This property features 10 apartments, with a prime end-user space and ability to capture high retail income on one of the most popular restaurant blocks in the city. BUILDING PROFILE & UNIT MIX: 344 West 46th Street is comprised of 10 residential Units and 1 fully built out former restaurant, commercial Space with a useable basement. The unit mix includes 3 Free Market, 1 Rent Stabilized and 6 Single Room Occupancy Units. All units will be delivered vacant except for the RS Unit. The retail space is built full 100’ to the lot on the ground floor with 25’ of frontage. VALUE ADD OPPORTUNITY: All residential apartments can be renovated, giving potential purchasers the ability to immediately add value to raise rents to market levels and/or reposition the residential units. The unique Single Room Occupancy status allows for legal short-term rentals give an investor the ability capture a high return in the heart of the most visited neighborhood in Manhattan, Times Square. PRIME LOCATION: World-renown as one of the most heavily foot-trafficked locations in New York City, 344 West 46th Street has the charm of being located in between the desirable 8th and 9th Avenues. Strategically located just blocks away from Time Square, this is a highly visited neighborhood an investor will benefit from for generations to come. Given its immediate proximity to incredible transportation, restaurants, retail and other amenities in the Hell’s Kitchen neighborhood.