Multi-family

Investment Opportunity at 249 Broome Street, New York, NY, 10002

Discover an exceptional investment opportunity in the vibrant Lower East Side with this 3-star mid-rise apartment building. Combining an ideal location, efficient design, and steady income potential, this property offers significant value for seasoned investors seeking to expand their portfolios in Manhattan’s competitive real estate market.

Property Overview:

• For Sale: $16,000,000 ($484,848/Unit)
• Cap Rate: 5.58%
• Sale Type: Investment
• Property Type: 3-Star Mid-Rise Apartments
• Location: CBD, Lower East Side
• Units: 33
• Stories: 7
• Gross Building Area (GBA): 19,053 SF
• Typical Floor Size: 2,722 SF
• Number of Buildings: 1
• Units per Acre: 413/AC
• Class: B
• Rent Type: Market

Key Features:

• Prime Lower East Side Location: Situated in one of Manhattan’s most dynamic neighborhoods, offering a blend of cultural landmarks, trendy dining, and convenient access to public transportation.
• Strong Revenue Potential: With 33 market-rate units, the property provides an attractive 5.58% cap rate, ensuring reliable income and growth opportunities.
• Efficient Building Design: A GBA of 19,053 SF with typical floor sizes of 2,722 SF ensures optimal tenant satisfaction and manageable maintenance.
• Urban Accessibility: Positioned in the CBD, the property benefits from high tenant demand and proximity to major employment hubs, retail options, and lifestyle amenities.
• Class B Construction: A perfect blend of durability and affordability, appealing to a broad tenant demographic.

This property stands out as a solid addition to any investment portfolio, combining stable income with growth potential in one of New York City’s most sought-after neighborhoods.

Contact us today to learn more or to schedule a private viewing of this incredible opportunity!