Residential Investment Property for Sale – 335 First Avenue, New York, NY 10003

Asking Price: $3,999,999 ($666,667/Unit)
Cap Rate: 6.33%
Sale Type: Investment Opportunity
Property Type: 2-Star Mid-Rise Apartment Building
Location: East Village / CBD

Property Overview

335 First Avenue is a 6-unit multifamily property located in Manhattan’s East Village, one of New York City’s most dynamic and supply-constrained neighborhoods. Built across 4 stories with 5,050 sq. ft. of gross building area, the property generates market-rate rental income with stable cash flow and future appreciation potential.

Key Features

• Price: $3,999,999
• Cap Rate: 6.33%
• Units: 6 (all market-rate)
• Price per Unit: $666,667
• Gross Building Area (GBA): 5,050 sq. ft.
• Typical Floor Size: 1,073 sq. ft.
• Stories: 4
• Class: C
• Construction: Masonry
• Walk-Up: Yes
• Year Built: Not specified
• Buildings: 1
• Units per Acre: 150

Rent & Market Profile

• Rent Type: 100% Market Rate
• Market Segment: All renter categories
• Location Strength: Strong tenant demand from students, young professionals, and long-term residents due to proximity to Union Square, NYU, and Alphabet City

Neighborhood & Accessibility

Located in the East Village / Gramercy corridor, the property benefits from:

• Proximity to Union Square, Stuyvesant Square, and NYU
• Surrounded by restaurants, nightlife, and boutique shopping
• Excellent transit access via L, N, Q, R, W, 4, 5, 6 subway lines

Investment Highlights

• Attractive 6.33% cap rate with in-place cash flow
• Affordable $666K per unit pricing for Manhattan multifamily
• Fully market-rate tenancy with upside in rental growth
• Rare 6-unit property in East Village, a neighborhood with high demand and limited supply

Summary

335 First Avenue represents a strong East Village multifamily investment with 6 units, market-rate rents, and a competitive cap rate. This property provides investors with both stable income and long-term appreciation potential in one of Manhattan’s most resilient and desirable rental submarkets.