Residential Investment Property for Sale – 323 E 14th Street, New York, NY 10003

Asking Price: $4,750,000 ($316,667 / Unit)
Sale Type: Investment
Property Type: 3-Star Mid-Rise Apartments
Location: Central Business District – Manhattan (10003, Union Square / East Village Corridor)
Availability: Immediate

Property Overview

323 E 14th Street presents a 15-unit multifamily investment opportunity located between Union Square and the East Village, one of Manhattan’s most dynamic rental corridors. The 5-story, 8,110 SF mid-rise building provides investors with stable income from market-rate tenants in a high-demand submarket with consistent turnover and appreciation potential.

With a Class C designation and 3-Star rating, the building offers value-add potential through repositioning or upgrades, while still delivering stabilized income today. The efficient floor plates and 15-unit density make this a compelling option for private and institutional investors seeking long-term growth in a core Manhattan location.

Key Features

• Total Units: 15
• Asking Price per Unit: $316,667
• Stories: 5
• Gross Building Area (GBA): 8,110 SF
• Typical Floor Size: 1,622 SF
• Number of Buildings: 1
• Building Class: C (3-Star Mid-Rise)
• Units per Acre: ~300/AC
• Year Built: Not specified (prewar character likely)
• Construction: Traditional multifamily masonry

Market Profile

• Rent Type: 100% Market-rate units
• Target Tenant Base: Young professionals, students, and long-term residents drawn to Union Square/East Village affordability and amenities
• Neighborhood Demand: Extremely high, driven by proximity to NYU, Union Square, and Lower Manhattan employment hubs
• Competitive Advantage: Larger unit count than typical walk-up assets in the area, spreading risk across 15 tenants and enhancing cash flow stability

Financial Highlights

• Asking Price: $4,750,000
• Price per Unit: $316,667
• Price per SF: ~$586/SF
• Cap Rate: Not specified; expected competitive for core Manhattan multifamily
• Upside Potential: Value-add through unit renovations, potential rent increases, and capturing strong LES/Union Square rental demand

Location Advantages

• Neighborhood: East Village / Union Square corridor – vibrant and transit-rich CBD location
• Proximity: Steps to Union Square Park, NYU, cultural institutions, and downtown amenities
• Transit: Access to Union Square’s major subway hub (4/5/6, N/Q/R/W, L lines) and crosstown bus routes
• Tenant Demand: Consistently strong from students, professionals, and renters seeking Manhattan affordability with central access

Summary

The 15-unit, 8,110 SF property at 323 E 14th Street, Manhattan is offered at $4.75M (~$316K/unit, ~$586/SF), providing investors with a stable multifamily asset in one of New York City’s strongest rental markets. With its 100% market-rate tenancy, prime Union Square/East Village location, and value-add potential, this property is a compelling acquisition for investors targeting both current income and long-term appreciation.