Multi-family
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Investment Property for Sale – 165 E 71st Street, New York, NY 10021
Asking Price: $8,750,000 ($2,187,500 per unit)
Property Type: 2-Star Mid-Rise Apartments
Sale Type: Investment
Gross Building Area (GBA): 4,500 SF
Units: 4 (Avg. Unit Size: 971 SF)
Stories: 5
Year Built: 1910 | Renovated: 1949
Property Overview
165 E 71st Street offers a rare boutique multifamily investment opportunity on the Upper East Side, one of Manhattan’s most prestigious residential neighborhoods. Built in 1910 and renovated in 1949, the property consists of four large residential units spanning 4,500 SF across five stories. With an average unit size of 971 SF, the property appeals to tenants seeking spacious layouts in a prime location.
Key Features
- Units: 4 market-rate apartments (no rent stabilization)
- Size: 4,500 SF total | 971 SF average per unit
- Construction: Masonry structure, 5-story mid-rise
- Sprinklers: None
- Typical Floor Plate: 900 SF per floor
- Class: C – Stable, long-term investment with upside potential
Location & Market Highlights
- Situated in the heart of the Upper East Side, surrounded by luxury residences, cultural institutions, and premier retail
- Steps from Madison Avenue shopping, Central Park, and top-tier schools
- Excellent transit access via Q and 6 subway lines and multiple bus routes
- Highly desirable urban infill location with consistent rental demand
Investment Highlights
- Asking Price: $8,750,000 | ~$1,944 PSF
- Market-Rate Units: Flexibility to capture strong neighborhood rental growth
- Stable asset with low supply risk in a trophy location
- Ideal for investors seeking long-term appreciation and steady rental income
Summary
165 E 71st Street presents an opportunity to acquire a rare, four-unit multifamily property in one of Manhattan’s most coveted residential neighborhoods. With spacious market-rate apartments, prime Upper East Side positioning, and strong long-term value, this property is well-suited for both private investors and family offices looking for stable income with appreciation upside.
