Prime Multi-Family Investment Opportunity – 91-93 Baxter Street
Address: 91-93 Baxter Street, New York, NY, 10013
Asking Price: $12,500,000 ($284,091/Unit)
Cap Rate: 6.77%
Sale Type: Investment
Property Type: 3-Star Mid-Rise Apartment Building
Location: Central Business District (CBD)
Number of Units: 44
Average Unit Size: 625 SF
Stories: 7
Class: B
Gross Building Area (GBA): 27,528 SF
Typical Floor Size: 3,461 SF
Number of Buildings: 2
Units per Acre: 367/AC
Market Segment: All
Rent Type: Market
Property Overview:
Located in the heart of Chinatown/Little Italy, 91-93 Baxter Street presents a rare multi-family investment opportunity in one of Manhattan’s most vibrant and high-demand rental markets. This 44-unit mid-rise apartment building offers market-rate rental income, strong occupancy rates, and long-term appreciation potential. With a prime location near Downtown Manhattan, this asset is ideal for investors looking to acquire a high-yield, stabilized multi-family property in NYC.
Key Features:
Premier Chinatown/Little Italy Location:
- Situated on Baxter Street, in a bustling neighborhood surrounded by restaurants, retail, and cultural attractions.
- Steps from SoHo, Tribeca, and the Financial District, making it an ideal location for professionals and renters.
- Steady rental demand from a diverse tenant base, including young professionals, families, and long-term residents.
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Strong Investment Potential:
- Market-rate rental income with stable occupancy rates and potential for future rent growth.
- Cap rate of 6.77%, providing strong returns in a high-demand rental market.
- Ideal for investors looking for long-term appreciation and steady cash flow in Manhattan’s real estate market.
Boutique & Well-Designed Building Layout:
- 27,528 SF total building area, spread across 7 stories and 2 connected buildings.
- 44 residential units with an average size of 625 SF, catering to a wide range of tenants.
- Class B designation, with potential for future upgrades and value-add improvements.
Excellent Transit Access:
- Steps from major subway lines (J, Z, N, Q, R, W, 6, B, D), ensuring easy access to Midtown, Downtown, and Brooklyn.
- Located in a highly walkable and well-connected neighborhood, driving consistent tenant demand.
High-Demand Rental Market:
- The Chinatown/Little Italy area continues to attract young professionals, students, and entrepreneurs, ensuring high occupancy rates.
- Ideal for long-term rental stability with market-driven rent growth potential.
Highlights:
✔ $12,500,000 investment opportunity with market-rate rental income
✔ 44-unit, 7-story mid-rise apartment building in a high-demand rental market
✔ Cap rate of 6.77%, providing strong investment returns
✔ 27,528 SF of residential space in a prime NYC location
✔ Located in a thriving cultural and business district with strong rental demand
✔ Convenient transit access, steps from multiple subway lines
Conclusion:
91-93 Baxter Street is an exceptional opportunity for investors seeking a stable, income-generating multi-family asset in Chinatown/Little Italy. With strong market-rate rental potential, long-term appreciation, and a prime location, this property offers excellent cash flow and investment security in one of NYC’s most dynamic neighborhoods.
Contact us today to schedule a private tour and secure this outstanding investment property!
