3 East 44th Street Commercial Building for Sale
Midtown East Commercial Lo-Rise Building
Excellent Midtown business location. Walking distance to Times Sq, Grand Central. Steps to all major transportation.
3 East 44th Street is a 16,200 SF, six-story commercial property located just off of Fifth Avenue, just two blocks from Grand Central Terminal and Bryant Park and directly across from The Cornell Club. It consists of a restaurant occupying the basement through the second floors, with the remaining three floors set up as office space. The building is serviced by a single passenger elevator. This property is currently encumbered by a master leasehold with a rent of $25,950 per year without any escalations with an expiration date of July 31, 2020 (9 years remaining).
The leaseholder is responsible for 100% of all operating expenses. This is a prime opportunity for investors/developers to purchase a midtown property at a low price/SF/BSF. With under 10 years remaining on the master lease, the true value of the asset will be realized in the near future, providing significant upside for buyers. This can also serve as a prime limited service hotel site upon lease expiration given the location and zoning.
Listing Courtesy Nellis Corporation / Tangelo LLC (Property Management Contact; Tom Mullins)
Listing Address: 3 East 44th Street New York, NY 10017
Statistics
- Price: $3,739,000
- Annual Taxes: $162,841
- Year Built 1940
- Type: Commercial Building (C5-2.5/C5-3)
- Lot Size: 2,714 sqft (27' x 100')
- Stories: 6 with 4 Units
- Elevator: 1
- Square Footage: 35,549 SF.
Former / Current Tenants
- Brooks Brothers
- PNC Bank
- Berdon LLP Accountants & Business Advisors (former tenant)
- Paul Stuart
- Fossil Store
- The White Gown
- Rehab World (Dr. Mogilevsky)
- Ricardo E. Erlano PT
- Azusa of Japan
- Sakura Shoji Inc.
- Fauchon Paris
- Studio Macbeth (Raymond Downing)
- Crane, Russak & Co.
- H.D. Nessler
- U.S.M.B. Realty Co., Inc.
- C.C. Stillman, Secretary of the Board of Sponsers
Features
- Midtown East Location
- High Ceilings
Transportation OPTIONs:
- B D F M 7 at 5th Av 0.13 miles
- S 4 5 6 7 at Grand Central 0.26 miles
- B D F M 7 at 42nd St-Bryant Park 0.28 miles
- B D F M at 47-50th Sts Rockefeller Center 0.34 miles
- S 4 5 6 7 at 42 Street - Grand Central 0.34 miles
Data/Internet Providers for the Building
| Service | Technology | Max Download Speed | Max Upload Speed |
|---|---|---|---|
| Stealth Communications | Fiber | 10 GB/s | 10 GB/s |
| Lightower | Fiber | 10 GB/s | 10 GB/s |
| Verizon New York | DSL | 10 MB/s | 1.5 MB/s |
| Time Warner Cable | Cable | 100 MB/s | 6 MB/s |
| MegaPath | DSL | 50 MB/S | 50 MB/s |
| Level 3 Communications | Fiber | 10 GB/s | 10 GB/s |
| tw telecom | Fiber | 10 GB/s | 10 GB/s |
| Cablevision/Lightpath | Fiber | 10 GB/s | 10 GB/s |
Floor Plans
- Floor plan ( pre-built)
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