Is Multifamily a commercial property?
James Olson
Updated on March 12, 2026
Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land, warehouses, and garages. In many states, residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.
Can I live in a commercial property NYC?
Commercial Space used as Residence You can report people living in commercial space. This type of activity violates zoning regulations.
How much is a commercial space in New York?
Office space is in high demand in New York City, which has caused prices to increase in recent years. The monthly cost of office space varies a bit depending on the borough in which you are searching, but the most desirable areas will run you between $30.00 and $70.00 per square foot on average.
What does multi-family property type mean?
A multi-family home is a single building that’s set up to accommodate more than one family living separately. That can range from a duplex, which has two dwellings within a single building, to homes or small apartment buildings with up to four units.
Are multifamily properties a good investment?
Multifamily property is considered a relatively “safe” investment compared to other real estate asset classes. That’s because even during an economic downturn, people need somewhere to live. In fact, during a recession, many people find themselves forced to sell their homes and move into rental housing, instead.
Can someone live in a commercial building?
So yes, you can absolutely live in a commercial property. You may need, or want, to add bathing and cooking facilities, but that is easily accomplished. You may also want to consider rezoning a portion of the property, and claim it as your homestead, in order to reduce your property taxes.
How much is retail rent in Times Square?
Times Square Retail Spaces For Rent
| Address | $ / SF | Monthly Rent |
|---|---|---|
| 9th Avenue & West 47th Street | $ 176 | $ 24,800 |
| W 45th Street & Avenue of the Americas | $ 132 | $ 22,000 |
| W 43rd Street & 5th Avenue | $ 39 | $ 7,400 |
| W 45th Street & 6th Avenue | $ 90 | $ 18,600 |
How much is rent for a store in New York?
Leasing costs for retail spaces depend strictly on location. Manhattan retail rental rates vary from $100 per square foot all the way up to $1000. The higher end of that range is mainly reserved for ground floor space along the ”Gold Coast” located from 50th Street up to 62nd Street, and from Madison to Fifth Avenue.
What are the different types of commercial property?
Industrial 1 Heavy Manufacturing. This category of industrial property is really a special use category that most large manufacturers would fall under. 2 Light Assembly. These structures are much simpler than heavy manufacturing properties, and usually can be easily reconfigured. 3 Flex Warehouse. 4 Bulk Warehouse. …
Why does Nym have a niche in real estate?
NYM | Niche Expertise. WHY NYM? Our specialized focus in NYC mid-market multifamily real estate, backed by the power and resources of Marcus & Millichap, uniquely positions us to create optimal opportunities for both private capital and institutional investors.
Is it possible to finance a multi family property?
Before we can get into your multi family financing options, you need to first determine what category you’re interested in. Financing rental properties can differ depending on whether it’s a two-unit property or an apartment.
Where does Marcus and Millichap specialize in real estate?
Our specialized focus in NYC mid-market multifamily real estate, backed by the power and resources of Marcus & Millichap, uniquely positions us to create optimal opportunities for both private capital and institutional investors. We specialize only in multifamily properties, only in New York City, customizing our strategy around you.
