Trophy-Scale Multifamily Asset in Midtown East – 765–767 First Avenue
Address: 765–767 First Avenue, New York, NY, 10017
Asking Price: $36,000,000 ($1,090,909/unit)
Sale Type: Investment
Type: 2-Star Mid-Rise Apartments
Location: CBD – Midtown East / Turtle Bay
Units: 33
Stories: 5
Building Class: B
Gross Building Area (GBA): 15,455 SF
Typical Floor Plate: 3,091 SF
Number of Buildings: 1
Units per Acre: 390/AC
Market Segment: Institutional, Private Equity, Family Offices
Rent Type: Market Rate
Property Overview:
765–767 First Avenue offers a rare opportunity to acquire a large-scale, market-rate multifamily property in the heart of Midtown East. With 33 units spread across five stories and over 15,000 SF, this asset delivers stable cash flow, professional curb appeal, and long-term value in one of Manhattan’s most sought-after rental submarkets.
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Investment Highlights:
✔ Asking Price: $36,000,000
✔ 33 fully market-rate residential units
✔ Gross Building Area: 15,455 SF across a single, mid-rise structure
✔ Prime Midtown East location with professional management appeal
✔ Efficient layouts and quality finishes with minimal deferred maintenance
Location Benefits:
✔ Centrally located between East 43rd and 44th Streets near the UN Headquarters
✔ Walking distance to Grand Central Terminal and Midtown office core
✔ High-demand area for professionals, diplomats, and corporate tenants
✔ Excellent access to 4, 5, 6, E, M, and 7 subway lines
Highlights:
✔ $1.09M per unit for a stabilized Midtown multifamily asset
✔ 100% market-rate tenancy – no regulatory restrictions
✔ Strong unit mix and consistent rental history
✔ Ideal for investors seeking scale, security, and long-term appreciation in Manhattan
Conclusion:
765–767 First Avenue represents a premier acquisition opportunity for investors targeting institutional-quality assets in core Manhattan. With strong in-place income, prime location, and excellent future upside, this property is ideal for long-term holders looking to anchor their portfolio in a proven market.
Contact us today to request full financials, rent roll, or schedule a confidential property tour.
