An outstanding investment opportunity located in Manhattan’s Central Business District (CBD). This 6-unit mid-rise apartment condo property spans 15,000 square feet and is available for sale at $5,750,000, offering a remarkable cap rate of 9.93%.
Property Overview:
- Address: 716 Broadway, New York, NY, 10003
- Sale Price: $5,750,000
- Cap Rate: 9.93%
- Gross Building Area (GBA): 15,000 SF
- Property Type: 2-Star Mid-Rise Apartments Condo
- Stories: 6
- Units: 6
- Typical Floor Size: 2,500 SF
- Class: C
- Location: Central Business District (CBD), Manhattan
- Rent Type: Market
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Key Features:
- Prime Location: Situated on Broadway, one of Manhattan’s most iconic thoroughfares, this property is positioned in a high-demand area with excellent access to public transportation, shopping, and dining.
- Strong Investment Returns: With a cap rate of 9.93%, this property offers a compelling return on investment in a thriving rental market.
- Spacious Units: The building features six units averaging 2,500 SF per floor, offering flexibility for potential tenants or future reconfiguration.
- Historic Appeal: This mid-rise structure combines classic architectural charm with functional residential spaces, catering to a diverse tenant base.
- Accessibility: Located in the heart of the CBD, the property benefits from high foot traffic and easy access to major transit hubs.
Investment Highlights:
716 Broadway presents a rare opportunity to acquire a well-positioned asset in one of Manhattan’s most desirable locations. With its competitive price, high cap rate, and potential for future appreciation, this property is an ideal investment for those seeking strong rental income and long-term growth.
Contact us today to schedule a tour or to request further information about this unique offering.
