Multi-Family Investment Opportunity – 29 Essex Street, Lower East Side
Address: 29 Essex Street, New York, NY, 10002
Price: $3,250,000 ($406,250/Unit)
Cap Rate: 5.01%
Sale Type: Investment
Type: 2-Star Apartment Building
Property Overview:
Situated in the Lower East Side, 29 Essex Street offers a rare multi-family investment opportunity in one of Manhattan’s fastest-growing residential markets. This five-story, eight-unit apartment building spans 6,205 SF and provides strong rental income potential with a market-rate rent structure. With a 5.01% cap rate, this asset presents a stable and attractive return for investors looking to capitalize on one of NYC’s most vibrant neighborhoods.
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Key Features:
Prime Lower East Side Location:
- Located in the Lower East Side, one of NYC’s most dynamic residential and cultural hubs.
- Steps from Essex Market, Seward Park, and the Williamsburg Bridge, offering a high-demand living experience for professionals and creatives.
- Surrounded by boutique retail, top-rated restaurants, nightlife venues, and art galleries, making it a highly desirable rental location.
Strong Investment Potential:
- 8 residential units with market-rate rent structure, allowing for long-term rental income growth.
- Cap rate of 5.01%, offering consistent returns with future value appreciation.
- Multi-family investment property in a high-demand rental market with low vacancy rates.
Building Specifications:
- 5 stories with 8 units, providing multi-family investment opportunities.
- Gross Building Area (GBA): 6,205 SF, with typical floor size of 1,100 SF.
- Class C property, offering potential for renovations and rental income maximization.
Excellent Transit Access:
- Steps from major subway lines (F, M, J, Z, B, D), providing seamless commuting options for residents.
- Proximity to Williamsburg Bridge and major roadways, ensuring easy accessibility to Brooklyn and other boroughs.
Growing Residential Market:
- The Lower East Side is one of NYC’s top residential hotspots, attracting young professionals, artists, and entrepreneurs.
- Ideal for investors looking for stable rental income and long-term appreciation in a thriving urban district.
Highlights:
✔ 8-unit multi-family apartment building in the Lower East Side
✔ $3,250,000 sale price ($406,250 per unit) with a 5.01% cap rate
✔ Market-rate rental units with strong income growth potential
✔ Surrounded by retail, dining, and cultural attractions
✔ Convenient transit access, steps from subway lines and major commuter routes
Conclusion:
29 Essex Street presents an exceptional investment opportunity for those looking to acquire a stable, income-generating multi-family asset in the Lower East Side. With market-rate rentals, a strong cap rate, and a prime location, this property is perfect for investors seeking a long-term, high-yield asset in one of Manhattan’s most vibrant neighborhoods.
Contact us today to schedule a private tour and secure this prime investment property!
