Multi-family

Located at 216 Thompson Street, New York, NY, 10012, this 2-star mid-rise apartment building represents an attractive investment opportunity in a prime Central Business District (CBD) location. Priced at $6,500,000 (approximately $812,500 per unit), the property offers a stable cap rate of 4.51%, appealing to investors seeking reliable returns.

Property Overview:

• Price: $6,500,000
• Cap Rate: 4.51%
• Units: 8
• GBA: 7,600 SF
• Typical Floor Size: 1,520 SF
• Stories: 5
• Class: C
• Sale Type: Investment

Key Features:

• Desirable Location: Situated in a thriving CBD neighborhood, the property is well-positioned to attract tenants looking for convenient access to Manhattan’s cultural and commercial hubs.
• Unit Layout Efficiency: The building offers a total of 8 market-rate units, with an average unit size contributing to tenant comfort and retention.
• Investment Stability: The cap rate of 4.51% reflects a balanced risk-to-reward profile for long-term investors in the rental market.
• Solid Construction: Classified as Class C, the building provides a durable structure while offering potential for aesthetic or functional upgrades.

Conclusion:

The property at 216 Thompson Street is an excellent opportunity for investors aiming to secure a well-located, income-generating asset. With its stable cap rate and potential for value appreciation, it is an ideal choice for those looking to strengthen their portfolio in one of Manhattan’s most sought-after areas.