Turnkey Multifamily Asset in the East Village – 122 First Avenue
Address: 122 First Avenue, New York, NY, 10009
Asking Price: $5,000,000 ($625,000/unit)
Sale Type: Investment
Type: 2-Star Mid-Rise Apartments
Location: CBD – East Village
Units: 8
Stories: 5
Building Class: C
Gross Building Area (GBA): 6,145 SF
Typical Floor Plate: 1,227 SF
Number of Buildings: 1
Units per Acre: 154/AC
Market Segment: All Investor Types
Rent Type: Market Rate
Property Overview:
122 First Avenue offers a well-maintained, income-producing multifamily property in the heart of Manhattan’s East Village. With 8 residential units across 5 stories, this mid-rise building presents a strong opportunity for investors seeking a stabilized asset in one of New York City’s most desirable and dynamic rental markets.
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Investment Highlights:
✔ Asking Price: $5,000,000
✔ 8 Market-Rate Units – Fully occupied or ready for lease-up
✔ Gross Building Area: 6,145 SF
✔ Avg Unit Size: Approx. 768 SF
✔ Low-rise configuration allows for efficient operations and low common area expense
Location Benefits:
✔ Located in the core of the East Village near 7th Street and First Avenue
✔ Surrounded by top-rated restaurants, entertainment, and local retail
✔ High demand rental area for students, young professionals, and creatives
✔ Easy access to the L train at 1st Avenue and multiple bus routes
Highlights:
✔ Fully market-rate building with upside potential through light renovations or unit turnover
✔ Walk-up construction with strong bones and good natural light
✔ Stable rental income in a supply-constrained, high-demand neighborhood
✔ Excellent 1031 exchange candidate or addition to long-term hold portfolio
Conclusion:
122 First Avenue represents a rare chance to acquire a clean, well-located multifamily building in one of NYC’s most enduringly popular residential districts. With strong fundamentals, full market exposure, and value-add potential, this East Village property is ideal for both seasoned and emerging investors.
Contact us today to request full financials, rent roll, or to schedule a private walkthrough.
