Multi-family

Investment Opportunity: Mid-Rise Apartment Building in the Heart of Chinatown

Address: 79 Mott Street, New York, NY, 10013
For Sale Price: $9,900,000 ($618,750 per Unit)
Cap Rate: 3.54%
Sale Type: Investment
Units: 16
Gross Building Area (GBA): 11,275 Square Feet
Stories: 5
Average Unit Size: 500 SF
Typical Floor: 2,255 SF
Units per Area: 267/AC
Market Segment: All
Rent Type: Market/Affordable
Affordable Type: Rent Stabilized
Affordable Units: 9

Overview:
Located in the vibrant heart of Chinatown, 79 Mott Street offers a solid investment opportunity for those looking to acquire a well-positioned mid-rise apartment building in one of Manhattan’s most dynamic neighborhoods. Priced at $9,900,000 ($618,750 per unit), this 5-story building consists of 16 units, with a combination of market and rent-stabilized apartments. This property provides the potential for steady income and future growth in an area that is consistently in demand.

Key Features:

Prime Chinatown Location:
79 Mott Street is located in the heart of Chinatown, a thriving neighborhood known for its rich cultural history, vibrant community, and proximity to Soho, Tribeca, and the Financial District. The area offers a unique blend of residential and commercial properties, attracting a wide range of tenants and businesses.

Solid Investment Potential:
This building is an excellent investment opportunity with a strong cap rate of 3.54%. The property includes a mix of 16 units, of which 9 are rent-stabilized, offering a combination of reliable income from affordable units and higher market rents from the remaining units. The average unit size is 500 SF, catering to both individual renters and small families.

Class C Construction:
Built with durable materials, the building offers a solid foundation and the potential for long-term use. While it is classified as Class C, the property has been well-maintained and provides affordable and comfortable living spaces for its tenants. The typical floor plan of 2,255 SF ensures efficient use of space.

Affordable Units:
9 out of the 16 units are rent-stabilized, providing additional stability for long-term investors seeking a steady income stream. The inclusion of affordable units makes the property attractive to a wide range of tenants and offers an added layer of security for the investment.

Highlights:

• 16-unit mid-rise apartment building with a mix of market and rent-stabilized units
• 11,275 SF GBA with an average unit size of 500 SF
• Strong cap rate of 3.54%
• Priced at $9,900,000 ($618,750 per unit)
• Located in the vibrant and highly sought-after Chinatown neighborhood
• Solid income potential with both market-rate and affordable rent units
• Rent-stabilized units provide long-term stability

Contact us today to schedule a tour and explore how this well-located property in Chinatown can enhance your investment portfolio.