Murray Hill, Manhattan, January 20, 2026
Alpha Realty has successfully facilitated the sale of a mixed-use property at 41 East 41st Street in Manhattan’s Murray Hill for $5.4 million. The five-story building includes two commercial units and three residential apartments, alongside approximately 10,000 square feet of unused air rights, indicating promising future development potential. This transaction reflects the ongoing demand for such properties in New York City, showing a resilient real estate market as investors pursue opportunities in urban landscapes.
New York City
Alpha Realty Facilitates $5.4 Million Sale of 41 E 41st Street in Manhattan’s Murray Hill
New York City – The real estate market in New York City continues to display resilience and vitality with the recent $5.4 million sale of 41 East 41st Street, a five-story mixed-use building situated in the thriving Murray Hill neighborhood. Alpha Realty, a renowned boutique brokerage, successfully facilitated this transaction, highlighting the ongoing demand for multifamily and mixed-use properties in the area. As entrepreneurs and investors seek opportunities in New York, the potential for development in these properties is essential for bolstering the local economy.
This property, covering 5,120 square feet, contains two commercial units and three residential apartments, making it an attractive investment. Of particular note is the roughly 10,000 square feet of unused air rights. This feature not only enhances the property’s value but also positions it for future development opportunities—an important consideration in the ever-evolving skyline of New York City.
Property Details
- Location: Between Madison Avenue and Park Avenue, near Bryant Park and Grand Central Terminal.
- Size: 5,120 square feet.
- Components: Two commercial units and three residential apartments.
- Additional Features: Approximately 10,000 square feet of unused air rights.
Investment Highlights
- Tax Class: Protected under Tax Class 2A, offering stable annual tax increases.
- Retail Tenants: Anchored by long-term tenants.
- Residential Units: Recently renovated interiors that add appeal to potential renters.
- Operational Efficiency: Implemented utility reimbursements and common area maintenance charges help offset operating expenses.
- Projected Cap Rate: 6.2%, indicating a favorable return on investment.
Market Context
The successful transaction of 41 East 41st Street exemplifies the strong market demand for mixed-use properties in Manhattan’s Midtown area. The growing interest in these investments reflects a broader trend where entrepreneurs leverage opportunities for growth amidst the challenges posed by the urban landscape. The availability of unused air rights further enhances the property’s attractiveness, as it provides avenues for future expansion or enhanced development potential.
Alpha Realty’s continued success in facilitating these types of deals underlines its expertise in navigating New York City’s dynamic real estate landscape, fostering an environment where innovation and private investment can thrive.
Frequently Asked Questions (FAQ)
What is the sale price of 41 East 41st Street?
The property was sold for $5.4 million.
What is the size of the property?
The building encompasses 5,120 square feet.
What does the property include?
The property features two commercial units and three residential apartments, along with approximately 10,000 square feet of unused air rights.
Where is the property located?
The building is situated between Madison Avenue and Park Avenue, near Bryant Park and Grand Central Terminal in Manhattan’s Murray Hill neighborhood.
What are the investment highlights of the property?
The property is protected under Tax Class 2A, offering stable annual tax increases. The retail component is anchored by long-term tenants, and the residential units have recently renovated interiors. Operational efficiencies have been implemented, contributing to a projected cap rate of 6.2%.
Who facilitated the sale of the property?
The sale was facilitated by Alpha Realty, a leading boutique brokerage specializing in the sale of multifamily and mixed-use assets across New York City’s core markets.
Key Features of 41 East 41st Street
| Feature | Details |
|---|---|
| Sale Price | $5.4 million |
| Property Size | 5,120 square feet |
| Components | Two commercial units and three residential apartments |
| Unused Air Rights | Approximately 10,000 square feet |
| Location | Between Madison Avenue and Park Avenue, near Bryant Park and Grand Central Terminal |
| Tax Class | Protected under Tax Class 2A |
| Retail Tenants | Long-term tenants |
| Residential Units | Recently renovated interiors |
| Operational Efficiencies | Utility reimbursements and common area maintenance charges implemented |
| Projected Cap Rate | 6.2% |
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