Alpha Realty brings five-story mixed use building at 41 East 41st Street to the Manhattan investment market. The property includes three large floor-through apartments, two commercial units & 10,000 square feet of unused air rights, offering long term value in high demand Midtown/Murray Hill corridor.
-- Alpha Realty announces that 41 East 41st Street, a five‑story mixed‑use building in Manhattan’s Murray Hill neighborhood, is now on the market. The 5,120‑square‑foot property includes three large floor‑through apartments, two commercial units, and approximately 10,000 square feet of unused air rights. Lev Mavashev, Managing Principal of Alpha Realty, and Associate Dasha Dadobaeva are exclusively representing ownership.
Located between Madison Avenue and Park Avenue, 41 East 41st Street sits in a high‑demand Midtown corridor near Bryant Park and Grand Central Terminal, offering strong accessibility and steady pedestrian traffic. The property’s combination of residential and commercial income, along with its unused air rights, positions it as a compelling opportunity for investors seeking long‑term upside through repositioning or expansion.
Protected under Tax Class 2A, the building offers further investor advantages with stable annual tax increases. The retail component is anchored by long‑term tenants, while the residential units feature recently renovated interiors. Current ownership has implemented utility reimbursements and CAM charges to offset operating expenses, contributing to a projected cap rate of 6.2 percent.
Lev Mavashev, Principal of Alpha Realty, noted that the property’s location and fundamentals align with current investor demand for mixed‑use assets in Manhattan.
“This is a rare opportunity to acquire a fully occupied, income‑producing asset with future development potential in one of Manhattan’s most sought‑after corridors,” said Mavashev. “The property’s strong fundamentals and long‑term upside make it an attractive option for a wide range of investors.”
About the company: Alpha Realty is a boutique brokerage specializing in the sale of multifamily and mixed use assets across New York City’s core markets. The firm advises owners and investors on acquisitions, dispositions, and value creation strategies throughout Manhattan and the outer boroughs.
Contact Info:
Name: Lev Mavashev
Email: Send Email
Organization: Alpha Realty - Investment-Sales | NYC Multifamily
Address: 164 20th St Suite 3D, Brooklyn, NY 11232
Phone: (212) 658-0955
Website: https://www.alpharealtyny.com/
Release ID: 89183339
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