Multi-family

Boutique Multifamily Investment Off Central Park – 8 West 87th Street

Address: 8 West 87th Street, New York, NY, 10024
Asking Price: $6,850,000 ($978,571/unit)
Sale Type: Investment Sale
Type: 3-Star Mid-Rise Multifamily
Location: Urban – Upper West Side / Central Park West Corridor
Units: 7
Stories: 5
Building Class: B
Gross Building Area (GBA): 7,105 SF
Typical Floor Plate: 1,550 SF
Buildings: 1
Units per Acre: 140/AC
Rent Type: Market Rate
Market Segment: Private Investors, 1031 Exchange, Long-Term Holders

Property Overview:

8 West 87th Street presents a rare opportunity to acquire a fully market-rate, boutique multifamily building steps from Central Park. With just 7 units across 5 stories and over 7,100 SF of living area, this income-producing asset offers investors a manageable, high-quality property with long-term upside in one of Manhattan’s most stable and desirable submarkets.

Investment Highlights:

✔ Asking Price: $6.85M or $978,571 per unit – premium location at sub-$1M/unit
✔ All Market-Rate Units: No rent regulation – full income flexibility and repositioning potential
✔ GBA: 7,105 SF – efficient layout with large full-floor or duplex-style apartments
✔ Boutique Scale: 7 units across 5 floors – easy to operate and manage
✔ Attractive Architecture: Classic UWS brownstone character with curb appeal

Location Benefits:

✔ Located on a tree-lined block just off Central Park West
✔ Steps from the American Museum of Natural History and B/C subway lines
✔ Close to top public and private schools, playgrounds, and gourmet grocers
✔ Prime Upper West Side location with strong rental demand and low vacancy

Highlights:

✔ Fully occupied, 100% market-rate rental building
✔ Positioned for long-term appreciation and NOI growth
✔ Ideal for private investors, family offices, or exchange buyers seeking asset stability
✔ Potential condo or luxury rental conversion (subject to approvals)

Conclusion:

8 West 87th Street offers a rare combination of location, unit mix, and income flexibility in a blue-chip Upper West Side setting. With no rent regulation and proximity to Central Park, this boutique asset is ideal for investors looking for long-term value, cash flow, and prestige in one of Manhattan’s most established neighborhoods.

Request financials, rent roll, or schedule a private viewing today.