816 6TH Avenue, New York (NoMad), NY, New York, property flyer

New York (NoMad), NY, 10001 | $8,000,000

Welcome to 816 Avenue of the Americas

An income-producing mixed-use corner building in one of Manhattan's most sought-after neighborhoods: NoMad (North of Madison Square Park). Sitting at the corner of 6th Avenue and West 28th Street, this four-story building delivers $33, 400/month in current in-place income: a full-floor restaurant anchor on the 1st and 2nd floors, and a passive AT&T rooftop antenna lease at $5, 400/month. The 3rd and 4th floors are currently vacant - a key opportunity for the next owner to act immediately. INCOME HIGHLIGHTS: 1st & 2nd Floor Restaurant: $28, 000/month $336, 000/year 3rd Floor: VACANT (formerly $5, 000/mo) - ready for conversion 4th Floor: VACANT (formerly $5, 000/mo) - ready for conversion AT&T Rooftop License: $5, 400/month $64, 800/year Current Total: $33, 400/month $400, 800/year VALUE-ADD OPPORTUNITY: The 3rd and 4th floors are prime candidates for conversion to market-rate 2-bedroom residential apartments. Proposed architectural layouts are available showing 2BR configurations with private baths, kitchens, and living areas. Estimated market rent: $5, 500-$6, 000/month per unit - lifting projected gross income to $533, 000-$545, 000/year. DEVELOPMENT UPSIDE: Zoned C6-4X with a max FAR of 10. 0, the building currently utilizes only 4. 75 FAR (4, 690 SF). This leaves 5, 190 SF of unused air rights available for vertical expansion, transfer to an adjacent lot, or future development - a rare and valuable asset in this location. Transportation: N/R/W subway at 28th Street and the B/D/F/M at 34th Street-Herald Square. Surrounded by luxury hotels, tech companies, world-class dining, and the Flower District. NoMad continues to command premium rents and sustained investor demand. Asking Price: $8, 580, 000 Cap Rate: 4. 8

Shown by appointment only. Financials available upon request.

Features

Town: New York
Levels: 1
Rooms: 12
Bedrooms: 5

Baths: 3 full
Laundry: Building None
Year Built: 1915
View: City

Pet Policy: Building Yes,No
MLS#: RLS20077300
Days on Market: 70 days
Website: https://www.raveis.com
/prop/RLS20077300/8166thavenue_newyork_ny?source=qrflyer

All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.
Listing courtesy of Serhant Phone: 646-480-7665

William Raveis Family of Services

Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.

Customer Service

888.699.8876

Contact@raveis.com

Our family of companies offer our clients a new level of full-service real estate. We shall:

Market your home to realize a quick sale at the best possible price
Place up to 20+ photos of your home on our website, raveis.com
Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
Showcase your home on raveis.com with a larger and more prominent format
Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology

To learn more about our credentials, visit raveis.com today.

Sarah DeFlorioVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 1880936

347.223.0992

Sarah.DeFlorio@Raveis.com

Our Executive Mortgage Banker:

Is available to meet with you in our office, your home or office, evenings or weekends
Offers you pre-approval in minutes!
Provides a guaranteed closing date that meets your needs
Has access to hundreds of loan programs, all at competitive rates
Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction

New York (NoMad), NY, 10001

$8,000,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Sarah DeFlorio

VP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 347.223.0992

Sarah.DeFlorio@Raveis.com

NMLS Mortgage Loan Originator ID 1880936

	5/6 (30 Yr) Adjustable Rate Jumbo*	30 Year Fixed-Rate Jumbo	15 Year Fixed-Rate Jumbo
Loan Amount	$6,400,000	$6,400,000	$6,400,000
Term	360 months	360 months	180 months
Initial Interest Rate**	5.375%	6.125%	5.875%
Interest Rate based on Index + Margin	8.125%
Annual Percentage Rate	6.117%	6.235%	6.058%
Monthly Tax Payment	N/A	N/A	N/A
H/O Insurance Payment	$125	$125	$125
Initial Principal & Interest Pmt	$35,838	$38,887	$53,576
Total Monthly Payment	$35,963	$39,012	$53,701

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.