Multi-Family Investment Opportunity – 51 Market Street
Address: 51 Market Street, New York, NY, 10002
Asking Price: $4,799,000 ($799,833/Unit)
Sale Type: Investment
Asset Type: 3-Star Mid-Rise Apartment Building
Location: CBD – Lower East Side / Chinatown
Units: 6 Residential Units
Stories: 4
Building Class: C
Gross Building Area (GBA): 7,488 SF
Typical Floor Plate: 1,535 SF
Buildings on Site: 1
Units per Acre: 108/AC
Market Segment: All
Rent Type: Market Rate
Property Overview:
51 Market Street presents a rare opportunity to acquire a 6-unit market-rate multifamily building in Manhattan’s fast-growing Lower East Side/Chinatown submarket. With 7,488 SF across four stories, this corner mid-rise asset offers investors a stable, income-producing property with long-term value-add potential in a high-demand residential rental market.
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Investment Highlights:
✔ Strong In-Place Cash Flow: Fully leased 6-unit building with market-rate tenants and stable rental income.
✔ Efficient Building Layout: Large floorplates (approx. 1,535 SF per floor) with well-proportioned residential units.
✔ Desirable Downtown Location: Centrally positioned near East Broadway, Grand Street, and FDR Drive—close to Essex Crossing, the Manhattan Bridge, and major transportation links.
✔ Add-Value Potential: Opportunity for upgrades, repositioning, or future condo conversion (subject to approvals).
✔ Tax Class & Operating Efficiency: Low-maintenance asset in an area with continued rental demand and low vacancy.
Location Highlights:
✔ Close to East Broadway Station (F Train)
✔ Walking distance to Lower East Side galleries, Chinatown markets, and Civic Center offices
✔ Excellent access to Williamsburg Bridge, Manhattan Bridge, and the FDR
Financial Summary:
- Price: $4,799,000
- Units: 6
- Stories: 4
- Gross Building Area: 7,488 SF
- Rent Structure: Market Rate
- Use: Multifamily Investment
- Building Class: C | 3-Star Mid-Rise
Conclusion:
51 Market Street offers investors a rare opportunity to acquire a cash-flowing, market-rate multifamily property with scale, location, and long-term upside. With proximity to key transit, major neighborhood developments, and strong tenant demand, this is an ideal asset for investors seeking stable income and growth in Manhattan’s evolving downtown core.
