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Aerial rendering of Times Square (Created by CityRealty with Google Earth)

From Midtown West Renting and Buying in Times Square; What's Available Right Now

By CityRealty Staff Wednesday, April 4, 2018

Times Square is known for many things, but being a desirable place to live isn't one of them. In New York City, some of the tallest new skyscrapers are residential properties but those near the 7th Avenue / Broadway intersection are nearly all hotels or office buildings.

However, if you want to live near what some may call "the center of the universe," plenty of options are out there. Mind the tourists, please.

The 13-story 150 West 47th Street was constructed in 1902, then known as Somerset House, and it was home to Vaudeville performers, physicians and investors. These days, you can rent a studio from $2,250/month and a 1-bedroom from $2,650/month. Citi Habitats handles leasing for the property and listings are no fee. Many of the 103 units are renovated and feature polished hardwood floors, chef's kitchens with granite countertops, and marble bathrooms with pedestal sinks and glass enclosed showers. Building amenities include a 24-hour doorman, complimentary fitness center and a laundry room.

The former hotel Somerset at 150 West 47th Street (Credit: Museum of the City of New York)

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Not far from the former Somerset House, a pair of rental units listed by the Corcoran Group at 140 West 46th Street start at $2,000/month. The building is the typical prewar walk-up with 5 floors and 8 rental units, and commercial space occupies the base. Leases require a 1-year minimum occupancy and a full 15% annual rent broker fee. Electricity is included in the rent; pets are not permitted.

The listing for apartment #3F offers a moderately-sized studio layout with hardwood floors and three large operable windows. The kitchen has plenty of cabinet storage and the bathroom is fully tiled in black and white. The one-bedroom #5R appears to be recently renovated and the kitchen is equipped with modern cabinetry and countertops. Building amenities include a terrace and garden.

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If you don't have an interest renting in Times Square, there is always the option to buy.

At 1600 Broadway, most famous for having the M&M's World retail store at its base, condominiums are listed for purchase, ranging from studios to four-bedroom residences. There are currently 16 listings with prices from $810,000 for studio #9F to the 2-bed/2-bath #15C which is listed for $1.75 million. There is a $1,408 average price per square foot on current listings, and the building has several amenities including Club on the Square - occupying the entire fourth floor - which has an entertainment lounge, a fitness center and an outdoor terrace with views of Times Square. Several condos in the building are also listed for rent starting from $3,500/month.

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Heading east from Times Square, options for both renting and buying are more plentiful with large-scale residential buildings at nearly every turn.

Rising to 42 floors with 220 apartments, the property known as The Platinum at 247 West 46th Street was erected in 2008 and currently has six 1-bedroom condos for sale starting from $1.28 million (Unit #2405) and 2-bedroom condos start at $2.25 million (Unit #3105). Some units are available for rent, priced from $4,000/month for a 1-bedroom.

At 305 West 50th Street is the 26-story, 290-unit Longacre House by Equity Residential. Current listings show studios from $3,100/month, 1 bedrooms from $3,535/month and 2 bedrooms from $6,130/month. A 23-story Avalon-branded rental building with nearly 630 units is at 515 West 52nd Street and studios start at $2,660/month. There is also The Biltmore at 271 West 47th Street where a sole studio is listed for $2,757/month.