Multi-family

Premier Multi-Family Investment Opportunity in Greenwich Village – 159 Bleecker Street

Address: 159 Bleecker Street, New York, NY, 10012
Price: $40,000,000 ($1,600,000/Unit)
Cap Rate: 5.39%
Sale Type: Investment
Type: 3-Star Mid-Rise Apartments
Location: Central Business District (CBD) – Landmark Area
Units: 25
Average Unit Size: 1,053 SF
Stories: 8
Building Class: B
Gross Building Area (GBA): 28,380 SF
Typical Floor Size: 3,787 SF
Number of Buildings: 1
Units per Acre: 218/AC
Market Segment: All
Rent Type: Market/Affordable
Affordable Type: Affordable Units

Investment Overview:

159 Bleecker Street presents a rare opportunity to acquire a prime multi-family property in Greenwich Village, one of New York City’s most desirable residential and commercial neighborhoods. With 25 units spread across 8 stories, this investment offers a blend of market-rate and affordable units, providing both steady cash flow and long-term appreciation potential in a high-demand rental market.

Key Features:

Prime Greenwich Village Location:

• Iconic Bleecker Street location, known for its historic charm, vibrant nightlife, and high-end retail and dining options.
• Steps from Washington Square Park, NYU, and SoHo, ensuring strong demand from students, professionals, and affluent renters.
• Surrounded by trendy cafés, boutique shopping, and cultural institutions, making it an attractive rental destination.

Stable Rental Income & Appreciation Potential:

• 25 units, offering a mix of market-rate and affordable housing, ensuring diversified income streams and long-term occupancy stability.
• Strong 5.39% cap rate, making it an attractive yield investment in a core NYC neighborhood.
• Opportunity for rent growth and value-add enhancements, further increasing ROI potential.

Well-Maintained Multi-Family Property:

• 28,380 SF across 8 stories, featuring spacious unit layouts averaging 1,053 SF.
• Class B construction, with modernized interiors and well-kept common areas.
• Investor-friendly asset with low vacancy rates and long-term tenant retention.

Excellent Transit Access:

• Steps from major subway lines (A, B, C, D, E, F, M at West 4th Street, 6 at Bleecker Street, R, W at Prince Street), ensuring seamless connectivity to the rest of NYC.
• Well-served by bus routes, CitiBike stations, and pedestrian-friendly streets, increasing tenant desirability.

Strong Rental Demand & Market Positioning:

• Greenwich Village remains one of NYC’s most sought-after neighborhoods, attracting high-income professionals, students, and international renters.
• Ideal for long-term investors, developers, or institutional buyers looking to acquire a high-performing, appreciation-driven asset.
• Competitive pricing at $40,000,000 ($1,600,000/unit), offering exceptional value for a landmark mid-rise asset in a prime location.

Investment Highlights:

✔ 25-unit mid-rise apartment building in the heart of Greenwich Village
✔ $40,000,000 asking price ($1,600,000/unit) with a strong 5.39% cap rate
✔ 28,380 SF total space with modernized interiors and large unit layouts
✔ Stable rental income with long-term appreciation potential
✔ Prime location near NYU, SoHo, Washington Square Park, and major transit hubs

Conclusion:

159 Bleecker Street is a blue-chip investment opportunity in one of Manhattan’s most iconic neighborhoods. With a strong mix of market and affordable housing, a competitive cap rate, and a prime Greenwich Village location, this property offers both stable cash flow and significant long-term appreciation potential.

Contact us today to schedule a private tour and secure this premier multi-family investment property!