Multi-family

Introducing 333 1st Ave, New York, NY 10003

Positioned in New York City’s central business district, 333 1st Ave presents a rare investment opportunity in an affordable housing market. This 4-story, low-rise apartment building with 7 units is available for sale at $3,900,000, pricing each unit at approximately $557,143. Boasting a total gross building area of 4,232 sq. ft., this property is ideal for investors seeking a foothold in the highly desirable and centrally located NYC market.

Property Details:

• Address: 333 1st Ave, New York, NY 10003
• Sale Price: $3,900,000 ($557,143 per unit)
• Gross Building Area (GBA): 4,232 sq. ft.
• Typical Floor Size: 1,003 sq. ft.
• Units: 7
• Stories: 4
• Building Class: C
• Units per Area: 175 units/AC
• Affordable Type: Rent Stabilized
• Affordable Units: 6

Key Features:

Stable Income Potential with Rent-Stabilized Units
With 6 of the 7 units under rent stabilization, this property offers a consistent rental income and appeals to investors looking for stable cash flow in a secure market segment. Rent-stabilized properties are in high demand, given the controlled rent increases, ensuring steady occupancy and long-term rental income.

Compact and Well-Structured Low-Rise Layout
This Class C, 2-star low-rise building has a practical layout with approximately 1,003 sq. ft. per floor, designed to maximize tenant comfort while maintaining efficient space utilization. Its manageable size offers investors an ideal entry point into NYC’s affordable housing market without the operational complexities of larger buildings.

Prime CBD Location
Located in the heart of the city’s central business district, 333 1st Ave is within walking distance of major transit options, retail centers, and cultural attractions. The centrality of this location is appealing to tenants seeking convenience and easy access to Manhattan’s business and social hubs.

Affordable Housing with High Demand
As an affordable, rent-stabilized property, this building is well-suited to the growing demand for affordable housing in NYC. It provides tenants with secure, long-term housing options, ensuring a steady tenant base and low turnover rates, which are beneficial for maintaining occupancy and minimizing vacancies.

Conclusion:

333 1st Ave is a prime investment opportunity for those seeking a stable, affordable housing property in the heart of New York City’s business district. With its rent-stabilized structure, central location, and strong occupancy potential, this property represents a sound addition to any investment portfolio, blending affordability with the high-demand urban appeal of Manhattan.