Multi-family

Introducing 717 E 5th Street, New York, NY, 10009—a 2-Star Mid-Rise Apartment Building located in the Central Business District (CBD) of Manhattan. Priced at $7,900,000 (approximately $359,091 per unit), this property is a compelling investment opportunity, boasting a 4.83% cap rate and steady market rental income potential.

Property Highlights

• Property Type: 2-Star Mid-Rise Apartment
• Gross Building Area (GBA): 10,000 SF, providing ample residential space.
• Units: 22 residential units with an average size of 575 SF, catering to urban renters.
• Stories: 5 floors, offering a manageable scale for property management.
• Typical Floor Size: 2,000 SF, efficiently designed for optimal occupancy.
• Building Class: C, reflecting functional and cost-effective construction.
• Density: High unit density of 367 units/AC, maximizing revenue potential.

Strategic Location

Located in the bustling East Village, this property offers excellent proximity to the city’s vibrant lifestyle, dining, and entertainment options. Its placement in a high-demand rental market ensures a steady flow of potential tenants and strong income potential.

Investment Potential

With a competitive cap rate of 4.83% and a market-oriented rent type, 717 E 5th Street is ideal for investors seeking steady returns in the residential real estate sector.

This property is a prime opportunity to capitalize on New York City’s thriving rental market while benefiting from the East Village’s enduring appeal.