Multi-family

Introducing 188 Suffolk Street, New York, NY 10002

Presenting a prime investment opportunity, 188 Suffolk Street is a well-maintained 2-star mid-rise apartment building located in the bustling Central Business District (CBD) of Manhattan. Offered for sale at $8,750,000 ($546,875 per unit) with a favorable cap rate of 5.90%, this property consists of 16 units spread across six stories, making it an attractive addition to any real estate portfolio.

Property Details:

• Address: 188 Suffolk Street, New York, NY 10002
• Sale Price: $8,750,000 ($546,875/Unit)
• Cap Rate: 5.90%
• Sale Type: Investment
• Building Type: 2-Star Mid-Rise Apartments
• Location: Central Business District (CBD)
• Units: 16
• Average Unit Size: 818 sq. ft.
• Stories: 6
• Class: C
• Gross Building Area (GBA): 12,200 sq. ft.
• Typical Floor Area: 2,033 sq. ft.
• Number of Buildings: 1
• Units per Acre: 320
• Market Segment: All
• Rent Type: Market/Affordable
• Affordable Type: Rent Stabilized
• Affordable Units: 5

Key Features:

Strong Investment Returns
With 16 units and a gross building area of 12,200 square feet, 188 Suffolk Street offers a solid investment opportunity with a competitive cap rate of 5.90%. The property’s diverse unit mix provides potential for steady rental income, appealing to a wide range of tenants.

Strategic CBD Location
Located in the heart of Manhattan’s Central Business District, this property benefits from proximity to key amenities, transportation hubs, and cultural attractions. The vibrant neighborhood atmosphere ensures a steady demand for rental properties, attracting both professionals and families.

Market and Affordable Rental Options
This Class C building features a mix of market and affordable rent types, including five rent-stabilized units. This unique combination broadens the tenant base and enhances the property’s appeal, ensuring consistent occupancy and rental income.

Conclusion:
188 Suffolk Street is an exceptional investment opportunity for buyers looking to acquire a mid-rise apartment building in a prime Manhattan location. With its strong unit count, attractive cap rate, and diverse rental options, this property represents a compelling choice for investors seeking to expand their real estate holdings in New York City.