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428 W 44th St
Listing Notes
20' wide four-story 6-unit brick building fully deregulated since 2015, can be delivered vacant. Located on what is widely regarded as the best block in Clinton. Set between Actors Studio and New Dramatists, the house is mid block among a row of well maintained brownstone houses, several single family. This entire building was gut renovated in 1968 when new electric, plumbing and structural work was done but much of the original period character and detail was retained. New Weil McLain 355, 000 BTU gas fired steam boiler in 2023 and new AO Smith hot water tanks in 2022. All of the apartments were renovated and new appliances installed within the past ten years. Suitable for conversion to a single family. We have plans drawn to combine the Garden and Parlor floors into a 3 Bedroom apartment. The current configuration is: Parlor and Garden apartments are each floor-thru one bedrooms and share a bright south facing landscaped garden. The 3rd and 4th floors each have two studio rental apartments. The building can be delivered entirely VACANT. The building has significant unused FAR which may be used to add a fifth floor and extend the rear. (Check with your architect.) This building is in the Special Clinton Zoning District which is intended to preserve the low rise character of the neighborhood. Within walking distance are Midtown offices, Broadway theatres, Hudson Yards, Manhattan West offices, Hudson River Park, subways A, C, E, 7, N, Q, R, 1, 2, 3. Owner/Broker RENT ROLL & EXPENSES: Garden Unit - Floor Through 1 Bedroom plus 800 sq ft garden Rent: $4, 695; Market Value: $4, 695; Lease Expires: VACANT Parlor Unit - Floor Through 1 Bedroom Rent: $4, 860; Market Value: $4, 990; Lease Expires: 3/31/26 Unit 2F - Studio Rent: $3, 440; Market Value: $3, 550; Lease Expires: 4/30/26 Unit 2R - Studio Rent: $3, 395; Market Value: $3, 350; Lease Expires: 4/30/26 Unit 3F - Studio Rent: $3, 425; Market Value: $3, 425; Lease Expires: 6/30/26 Unit 3R - Studio Rent: $2995; Market Value: $2995 LXP 4/30/26 Monthly Projected Rents: $23, 570 Annual Projected Rents: $282, 840Estimated Expenses (Annual): Real Estate Taxes: $52, 644 Water/Sewer: $1, 800 Insurance: $12, 917 Heat/Electric: $9, 400 Super/Cleaning: $6, 900 Repair, Replacements:$7, 000 Legal, Accounting: $2, 000 Cable: $1, 200 Other: $3, 000 Total: $96, 861 Nominal NOI: $185, 979 Vacancy: $15, 000 Effective NOI: $170, 979
Market Insights
$980/sqft vs a nearby median of $2042/sqft.
- -52% versus the nearby median price per square foot.
- Price history is limited, so current comps matter more than trend alone.
- 4,032 sqft creates a usable price-per-square-foot read.
Pricing Read
Asking price is about 111.8% below the fair value — likely to draw competing offers if it's still on market.
- Days-on-market gravity−$248k −3.0%
- Transit access+$207k +2.5%
- Pre-war character+$207k +2.5%
- Visible condition issues−$83k −1.0%
Property Read
The asking price per square foot is below the nearby median, which can be worth a closer comp check.
Price history is still limited; review again as more market activity becomes available.
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Generated from the facts shown on this page and nearby market data. Not a professional appraisal.
Listing Details
- Days on market
- 232 days
- Last price change
- No change recorded
- Listed
- Sep 22, 2025
- Photos
- 18 photos
- Property type
- townhomes
- Status
- for sale
Features & Amenities
Photos
Building Facts
- Year built
- 1901
- Stories
- 3
- Total units
- 6
- Residential units
- 6
- Building area
- 4,032 sqft
- Lot size
- 2,000 sqft
- Land use
- Multi-family walk-up buildings
- Building class
- C2
From NYC public records where available.