$3,150,000
PENDING $350K PRICE DROP

431 W 48th St New York, NY 10036

Hell's Kitchen Neighborhood

Estimated payment $21,054/month

Total Views 7,222
8 Beds
8 Baths
-- Sq Ft
-- Price per Sq Ft

About This Home

Situated in the heart of Hell's Kitchen, Manhattan, 431 West 48th Street is a prime multi-family building offering significant upside and investment potential. Built in 1920 with recent renovations, this 6,560 sq. ft. building sits on a 2,510 sq. ft. lot and features 8units, all one-bedroom units, and are well below market rate rents. 3 Rent Stabilized and 5 Free Market units in total.The property's prime location provides convenient access to public transportation, including major subway lines (A, C, E), bus routes, and bike lanes, as well as an array of dining, entertainment, and cultural venues, including Broadway and off-Broadway theaters. Nearby, residents can enjoy Central Park, Hudson River Park, and several local parks.

The property currently generates a gross income of $203K per year and a net operating income (NOI) of $108K per year, with huge upside potential in rents and monetizing full ceiling height basement and incredible roof with views. Total Annual expenses are approximately $95K. The building is zoned R8, offering potential development opportunities with approximately 8,000 Sq Ft of unutilized air rights. Multiple areas for an experienced operator to maximize earning potential and reimagine spaces to increase rent roll. The area attracts a diverse tenant base ensuring high occupancy rates and consistent rental income

Listing Agent

Andrew Feldman

Corcoran Group License #30FE1078523

Corcoran Group

Co-Listing Agent

Mattie Weiser

Corcoran Group License #30WE0860671

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $41,664

Year Built

  • Built in 1901

Lot Details

  • 2,511 Sq Ft Lot
  • Lot Dimensions are 100.42x25.00

Interior Spaces

  • 4-Story Property
  • Decorative Fireplace
  • Basement

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Full Bathrooms

Utilities

  • No Cooling

Community Details

  • 8 Units
  • Hells Kitchen Subdivision

Listing and Financial Details

  • Legal Lot and Block 0015 / 01058

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$41,664

Year Built

Built in 1901

Lot Details

0

Listing Details

  • Property SubType: Multi Family
  • Property Type: Residential
  • Neighborhood: Hells Kitchen
  • Entry Level: 1
  • Structure Type: Townhouse
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 4

Interior Features

  • Fireplace Features: Decorative
  • Fireplaces: 1
  • Fireplace: Yes
  • Living Area Units: Square Feet
  • Rooms (Total): 24
  • Basement: Yes
  • Basement: Other

Beds/Baths

  • Full Bathrooms: 8
  • Bathrooms Integer: 8
  • Bedrooms: 8

Exterior Features

  • View: Other
  • View: No
  • Patio/Porch Features: None

Garage/Parking

  • Garage: No

Utilities

  • Laundry Features: Building Other
  • Green Building Features: Green Building
  • Cooling: No

Condo/Co-op/Association

  • Common Interest: None

Lot Info

  • Lot Size Units: Square Feet
  • Lot Size Area: 2510.5
  • Lot Size Dimensions: 100.42x25.00

Rental Info

  • Land Lease: No

Building Info

  • New Construction: No
  • Units: 8
  • Total Stories: 4
  • Year Built: 1901

Tax Info

  • Tax Block: 01058
  • Tax Lot: 0015
  • Tax Annual: 41664.0

Multi Family

  • Building Area Units: Square Feet

Map

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/09/2025 04/09/25 Price Changed $3,150,000 -6.0% --
01/15/2025 01/15/25 Pending -- -- --
10/25/2024 10/25/24 Price Changed $3,350,000 -4.3% --
07/10/2024 07/10/24 For Sale $3,500,000 -- --
Source: Real Estate Board of New York (REBNY)

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Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10983465

Real Estate Board of New York (REBNY)

APN: 01058-0015

New York New York County New York 10019 Hell's Kitchen

431 W 48th St, New York, NY

Homes for Sale in New York, NY

This home is located at 431 W 48th St, New York, NY 10036 and is currently priced at $3,150,000. This property was built in 1901. 431 W 48th St is a home located in New York County with nearby schools including P.S. 111 Adolph S. Ochs, Clinton School, and Middle School 297.

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Real Estate Board of New York (REBNY) This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved.

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Andrew Feldman
Listing Agent
Andrew Feldman
Section Image
Corcoran Group
(917) 226-0665