Stabilized East Village Multifamily Asset – 141 First Avenue
Address: 141 First Avenue, New York, NY, 10003
Asking Price: $5,500,000 ($611,111/unit)
Sale Type: Investment
Type: 3-Star Mid-Rise Apartments
Location: CBD – East Village
Units: 9
Stories: 5
Building Class: B
Gross Building Area (GBA): 6,005 SF
Typical Floor Plate: 1,211 SF
Number of Buildings: 1
Units per Acre: 162/AC
Market Segment: All Investor Types
Rent Type: Market Rate
Property Overview:
141 First Avenue offers a well-maintained, nine-unit multifamily building in the heart of Manhattan’s East Village. This 5-story, mid-rise asset features a mix of market-rate units with strong in-place income and long-term appreciation potential in one of the city’s most historically resilient and high-demand rental markets.
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Investment Highlights:
✔ Asking Price: $5,500,000
✔ Nine market-rate apartments – ideal for stable income generation
✔ GBA: 6,005 SF across five stories
✔ Efficient floor plates and classic walk-up construction
✔ Located in a proven submarket with consistent rental demand
Location Benefits:
✔ Steps from East 9th Street, St. Mark’s Place, and Tompkins Square Park
✔ Dense foot traffic from residents, NYU students, and downtown professionals
✔ Strong neighborhood identity with vibrant culture, dining, and nightlife
✔ Accessible via L train at 1st Avenue and nearby M14 & M9 bus routes
Highlights:
✔ $611,111/unit for a stabilized, fully market-rate East Village property
✔ Full control of a standalone walk-up asset
✔ Appealing to long-term investors, 1031 buyers, and portfolio aggregators
✔ Delivered with solid cash flow and limited regulatory encumbrances
Conclusion:
141 First Avenue is an ideal turnkey investment for buyers seeking dependable rental income and future upside in one of Manhattan’s most enduring multifamily markets. With all market-rate units and an unbeatable East Village location, this building is well-positioned for long-term performance and portfolio value.
Contact us today to request the rent roll, income/expense summary, or arrange a private tour.
