Investment Sale – 183 Duane Street, New York, NY 10013
Asking Price: $7,295,000
Price per Unit: ≈ $1,459,000/unit
Cap Rate: 5.42%
Sale Type: Investment – Multifamily (3-Star Mid-Rise)
Property Class: C
Location: Manhattan CBD – Tribeca (10013)
Property Overview
183 Duane Street presents a 5-unit multifamily investment opportunity in the heart of Tribeca, one of Manhattan’s most prestigious residential markets. With a Gross Building Area (GBA) of 4,426 SF across five stories, the property provides both stable cash flow and long-term appreciation potential in a submarket defined by high demand and limited supply.
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The building’s market-rate rental profile offers investors immediate income at a 5.42% cap rate with upside potential through future repositioning or targeted renovations. Its boutique scale makes it well-suited for both private and institutional investors seeking exposure to Tribeca’s rental market.
Key Features
- Total Units: 5 Residential Units
- Average Unit Size: ≈ 705 SF
- Stories: 5
- Gross Building Area (GBA): 4,426 SF
- Typical Floor Size: ≈ 885 SF
- Lot Density: ≈ 250 units/acre
- Buildings: 1 mid-rise apartment property
- Property Class: C (3-Star Mid-Rise Apartments)
- Configuration: Efficient layouts suitable for long-term tenancy
Financials
- Asking Price: $7,295,000
- Cap Rate: 5.42% (in-place income)
- Price per Unit: ≈ $1,459,000
- Price per SF: ≈ $1,648/SF
- Rent Type: Market-rate units
- Stability: Immediate income-producing asset with upside from rent growth in a high-demand market
Market Profile
- Location Advantage: Prime Tribeca block, surrounded by luxury condominiums, high-end retail, and destination dining.
- Neighborhood: One of Manhattan’s most affluent and supply-constrained markets, with historically strong appreciation and resilient rental demand.
- Transit Access: Convenient to Chambers Street (1/2/3, A/C, R/W) and World Trade Center PATH.
- Investor Appeal: Rare opportunity to acquire a market-rate multifamily asset in Tribeca with immediate income and strong long-term fundamentals.
Summary
The 5-unit, 4,426 SF multifamily building at 183 Duane Street, New York, NY 10013 is offered at $7,295,000 at a 5.42% cap rate. With its market-rate units, boutique scale, and prime Tribeca location, the property represents a compelling opportunity for investors seeking stable cash flow and long-term appreciation in one of Manhattan’s most desirable neighborhoods.
