Prime Multi-Family Investment in Murray Hill – 120 E 37th Street
Address: 120 E 37th Street, New York, NY, 10016
Price: $7,350,000 ($1,225,000/Unit)
Sale Type: Investment
Type: 2-Star Mid-Rise Apartments
Location: Central Business District (CBD)
Units: 6
Stories: 5
Building Class: C
Gross Building Area (GBA): 6,803 SF
Typical Floor Size: 1,600 SF
Number of Buildings: 1
Units per Acre: 132/AC
Market Segment: All
Rent Type: Market
Investment Overview:
120 E 37th Street presents a prime multi-family investment opportunity in Murray Hill, one of Manhattan’s most sought-after residential and commercial districts. This five-story mid-rise apartment building features six market-rate units, offering strong rental income potential and long-term asset appreciation.
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Key Features:
Prime Murray Hill Location:
- Situated in a high-demand residential area, steps from Park Avenue, Grand Central Terminal, and Midtown office towers.
- Surrounded by high-end residences, corporate headquarters, cultural institutions, and renowned dining establishments.
- Proximity to Bryant Park, Fifth Avenue shopping, and major transit hubs, increasing tenant appeal.
Strong Rental Income & Value Appreciation:
- Six market-rate residential units, allowing for rental increases aligned with market trends.
- $1,225,000 per unit, reflecting the prestigious location and premium tenant demand.
- Upside potential through renovations and repositioning, increasing rental income and investment yield.
Efficient & Well-Maintained Property:
- 6,803 SF across five stories, with a typical floor size of 1,600 SF, offering spacious unit layouts.
- Class C construction, providing an opportunity for modernization and upgrades.
- Turnkey investment with minimal capital expenditure requirements.
Thriving Murray Hill Residential Market:
- Murray Hill remains a highly desirable rental market, attracting young professionals, business executives, and international tenants.
- Ideal for long-term multi-family investors, developers, or value-add specialists looking to maximize returns in a stable market.
- Competitive pricing at $7,350,000, presenting an attractive entry point into Manhattan’s luxury rental market.
Investment Highlights:
✔ 6-unit mid-rise apartment building in Murray Hill
✔ $7,350,000 asking price ($1,225,000/unit) with market-rate rents
✔ 6,803 SF total space with a 1,600 SF typical floor layout
✔ Stable rental income with future value-add potential
✔ Prime location near Grand Central, Bryant Park, and Midtown’s corporate hub
Conclusion:
120 E 37th Street is a top-tier investment opportunity for multi-family investors seeking a prime property in a high-demand rental market. With market-rate units, a premier location, and strong appreciation potential, this property offers both steady cash flow and long-term capital growth in one of NYC’s most prestigious neighborhoods.
Contact us today to schedule a private tour and secure this exclusive investment property!
