Located at 15 Warren Street, New York, NY, 10007, this 2-star low-rise apartment building offers a compelling investment opportunity in a vibrant Central Business District (CBD) location. Priced at $5,995,000 (approximately $1,199,000 per unit) with a cap rate of 3.95%, the property is ideal for investors seeking stable rental income and potential appreciation.
Property Overview:
- Price: $5,995,000
- Cap Rate: 3.95%
- Units: 5
- GBA: 12,180 SF
- Typical Floor Size: 1,740 SF
- Stories: 5
- Class: C
- Sale Type: Investment
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Key Features:
- Prime Location: Nestled in the heart of Manhattan’s CBD, this property benefits from proximity to major transit hubs, retail, and cultural landmarks, making it highly desirable for tenants.
- Mixed Rental Offering: The combination of market and affordable units caters to a diverse tenant demographic, ensuring steady demand and reduced vacancy risk.
- Efficient Building Layout: The typical floor size of 1,740 SF supports well-designed units, optimizing tenant comfort and maximizing rental revenue.
- Solid Construction: The Class C designation reflects a robust structure, with room for modernization to enhance property value and appeal.
Conclusion:
The 15 Warren Street property presents a unique opportunity for investors looking to acquire a well-positioned, income-generating asset in Manhattan’s thriving rental market. Its stable cap rate and location make it a solid addition to any real estate portfolio.
