Multi-family

Introducing 28 Forsyth Street, New York, NY 10002

Located in the vibrant heart of Manhattan’s central business district, 28 Forsyth Street presents an exceptional investment opportunity in a 2-star mid-rise apartment building. Available for sale at $9,000,000, this property offers a competitive price of approximately $409,091 per unit, making it a lucrative option for investors seeking a strong foothold in one of New York City’s most dynamic neighborhoods.

Property Details:

• Address: 28 Forsyth Street, New York, NY 10002
• Sale Price: $9,000,000 ($409,091 per unit)
• Gross Building Area (GBA): 14,442 sq. ft.
• Average Unit Size: 682 sq. ft.
• Units: 22
• Stories: 6
• Building Class: C
• Cap Rate: 6.25%
• Units per Area: 314 units/AC
• Market Segment: All
• Rent Type: Market/Affordable
• Affordable Type: Rent Stabilized
• Affordable Units: 11

Key Features:

Attractive Investment with Strong Cap Rate
With a cap rate of 6.25%, 28 Forsyth Street offers an appealing return on investment for prospective buyers. The property consists of 22 units, including 11 rent-stabilized apartments, which provide a blend of market and affordable housing options, ensuring a steady income stream and reduced vacancy risks.

Diverse Unit Sizes for Market Appeal
The average unit size of 682 sq. ft. allows for a variety of tenant needs, making it attractive to both individuals and families. This flexibility caters to a diverse demographic, enhancing the property’s appeal and ensuring consistent rental demand.

Prime Central Business District Location
Situated in the CBD, this property benefits from proximity to major transportation hubs, shopping, dining, and cultural attractions. The central location attracts a wide range of tenants, from young professionals to established families, further securing its position in the competitive New York City rental market.

Spacious and Efficient Design
With a total gross building area of 14,442 sq. ft. and an average floor size of approximately 2,267 sq. ft., the building’s layout maximizes space efficiency while providing tenants with comfortable living environments. This well-structured design enhances tenant satisfaction and encourages longer lease terms.

Conclusion:

28 Forsyth Street is an outstanding investment opportunity for those looking to acquire a strategically located property with a mix of market and affordable units in New York City. Its solid cap rate, diverse tenant base, and prime location make it a valuable addition to any real estate portfolio. Don’t miss the chance to capitalize on this unique property in a thriving urban market.