Description
For Sale – 8 W 71st Street, New York, NY 10023
Asking Price: $7,495,000
Price per Unit: ≈$749,500
Cap Rate: N/A
Property Type: Multifamily Investment
Asset Type: 2-Star Mid-Rise Apartments
Sale Type: Investment
Location: Upper West Side / Urban (10023)
Property Overview
8 W 71st Street presents a 10-unit multifamily investment property on the Upper West Side, just steps from Central Park. This five-story, 6,530 SF mid-rise walk-up, built with classic masonry construction, offers investors a boutique rental building in one of Manhattan’s most prestigious residential neighborhoods.
With strong tenant demand and steady rental income potential, the property combines long-term stability with the opportunity to reposition units over time.
Key Features
- Asking Price: $7,495,000
- Price per Unit: ≈$749,500
- Units: 10 total
- Gross Building Area (GBA): 6,530 SF
- Stories: 5 floors
- Class: C / 2-Star Mid-Rise Apartments
- Typical Floor Size: ≈1,149 SF
- Construction: Masonry, built early 20th century
- Units per Acre: ≈218/AC
- Rent Type: Market
Market Profile
Location Advantage: Prime Upper West Side location, steps from Central Park, Lincoln Center, and major cultural landmarks.
Transit Access: Easy access to 72nd Street (B, C) and 72nd Street (1, 2, 3) subway stations, connecting to Midtown and Downtown Manhattan.
Neighborhood Demand: Consistently strong from families, professionals, and long-term renters drawn to the Upper West Side’s residential character, cultural anchors, and park proximity.
Competitive Advantage: Rare 10-unit building on a Central Park block, offering boutique scale and stable income in one of NYC’s most desirable neighborhoods.
Summary
The 10-unit multifamily property at 8 W 71st Street, New York, NY 10023 is offered at $7,495,000 (~$749,500 per unit). With its prime Upper West Side location, boutique scale, and strong neighborhood demand, this property represents a rare opportunity for investors seeking long-term stability and value in one of Manhattan’s most prestigious markets.
