Multi-family

Investment Opportunity – Multi-Family Property in East Village

Address: 224 Avenue B, New York, NY, 10009
Asking Price: $15,500,000 ($596,154/Unit)
Sale Type: Investment
Property Type: 2-Star Mid-Rise Apartment Building
Location: Central Business District (CBD)
Number of Units: 26
Average Unit Size: 992 SF
Stories: 6
Class: C
Gross Building Area (GBA): 15,174 SF
Typical Floor Size: 2,529 SF
Number of Buildings: 1
Units per Acre: 260/AC
Market Segment: All
Rent Type: Market

Property Overview:

Located in the heart of East Village, 224 Avenue B presents a prime multi-family investment opportunity. This 26-unit mid-rise apartment building is situated in a high-demand residential market, offering steady rental income and long-term appreciation potential. With spacious unit layouts, a central location, and a vibrant neighborhood, this property is ideal for investors looking to acquire a high-yield asset in Manhattan.

Key Features:

Prime East Village Location:

• Situated in one of NYC’s most sought-after residential neighborhoods, known for its trendy lifestyle, thriving nightlife, and cultural attractions.
• Steps from Tompkins Square Park, Stuyvesant Town, and major shopping & dining destinations.
• Surrounded by boutique cafes, restaurants, retail shops, and public transportation, ensuring strong tenant demand.

Strong Investment Potential:

• 26 spacious residential units with market-rate rental opportunities.
• High occupancy rates with potential for future rent increases and value-add upgrades.
• Located in a high-demand rental market, ensuring a steady stream of income.

Well-Designed & Efficient Building Layout:

• 15,174 SF total building area, with typical floor layouts of 2,529 SF.
• Large unit sizes averaging 992 SF, appealing to long-term tenants.
• Class C designation with opportunities for renovation and repositioning to enhance value.

Excellent Transit & Accessibility:

• Steps from major subway lines (L, F, M, J, Z, 6), providing quick access to Downtown & Midtown Manhattan.
• Located in a pedestrian-friendly neighborhood, ensuring consistent demand from young professionals and students.
• Close to major roadways, offering easy access for deliveries, management, and operations.

Highlights:

✔ $15,500,000 investment opportunity with market-rate rental income
✔ 26-unit mid-rise apartment building in the East Village
✔ Large 992 SF average unit size, ideal for attracting high-quality tenants
✔ Market-rate rent potential in a high-demand residential area
✔ Convenient transit access, steps from subway lines and major roadways
✔ Potential for renovations and value-add improvements to increase ROI

Conclusion:

224 Avenue B presents an exceptional opportunity for investors looking to acquire a stable, income-generating multi-family asset in East Village. With strong rental demand, large unit layouts, and market-rate income potential, this property offers excellent cash flow and long-term value appreciation in one of NYC’s most desirable neighborhoods.

Contact us today for more details or to schedule a private tour!