Multi-family

Boutique Gramercy Multifamily Investment – 141 East 17th Street

Asking Price: $6,950,000
Price/Unit: $2,316,667
Asset Type: 3-Unit Residential Investment
Building Class: B | 3-Star Low-Rise Apartments
Gross Building Area (GBA): 6,720 SF
Stories: 3
Units: 3 Large Residential Units
Rent Type: Market-Rate
Location: Gramercy / Union Square – East 17th Street near Irving Place
Zoning: Verify Separately

Property Overview:

141 East 17th Street presents a rare opportunity to acquire a boutique, three-unit multifamily building in the coveted Gramercy/Union Square corridor. Spanning 6,720 square feet across three full-floor residences, this low-rise Class B asset is ideal for investors seeking long-term appreciation, premium market-rate rents, and minimal tenant turnover.

Key Features:

• Prime East Side Location: Steps from Gramercy Park, Union Square, and major universities and hospitals
• Expansive Layouts: Each unit offers approximately 2,240 SF – suitable for luxury rentals or condominium conversion
• Market-Rate Units: No rent stabilization or control; maximize income potential
• Well-Maintained Structure: Efficient low-rise configuration with low operating expenses
• Transit Access: Close to 4/5/6, N/Q/R/W, and L subway lines via Union Square

Investment Highlights:

• Boutique 3-unit property totaling 6,720 SF
• Offered at $6.95M – approx. $1,034/SF
• Large-format units ideal for high-income tenants or future conversion
• Excellent long-term hold in a high-demand, supply-constrained neighborhood
• Income-generating with value-add or condo exit potential

Conclusion:

141 East 17th Street is a premium small-scale multifamily asset in one of Manhattan’s most desirable residential enclaves. With generous floor plates, all market-rate units, and unbeatable location, it offers a compelling blend of stability and upside.

Contact us today to receive full financials or to arrange a private tour.