Premier Multi-Family Investment Opportunity in the Upper East Side – 324-326 E 84th Street
Address: 324-326 E 84th Street, New York, NY, 10028
Price: $17,500,000 ($437,500/Unit)
Sale Type: Investment
Type: 3-Star Mid-Rise Apartments
Location: Urban
Units: 40
Average Unit Size: 625 SF
Stories: 5
Building Class: C
Gross Building Area (GBA): 25,000 SF
Typical Floor Size: 3,368 SF
Number of Buildings: 1
Units per Acre: 342/AC
Market Segment: All
Rent Type: Market/Affordable
Affordable Type: Rent-Stabilized
Investment Overview:
324-326 E 84th Street presents an exceptional multi-family investment opportunity in the Upper East Side, one of Manhattan’s most affluent and high-demand residential neighborhoods. This five-story mid-rise apartment building consists of 40 units, offering a mix of market-rate and rent-stabilized apartments, providing strong rental income and long-term asset appreciation.
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Key Features:
Prime Upper East Side Location:
- Situated in the heart of Yorkville, a highly desirable residential neighborhood with strong tenant demand.
- Close to Central Park, Carl Schurz Park, and Museum Mile, making it a prime location for affluent renters and families.
- Steps from Second Avenue, shopping districts, fine dining, and cultural institutions, ensuring strong tenant retention.
Diverse Income Stream & Appreciation Potential:
- 40 total units, with a mix of market-rate and rent-stabilized apartments, offering both stability and potential rental growth.
- Rent-stabilized units provide consistent long-term income, while market-rate apartments allow for rental increases in line with market trends.
- Upside potential through capital improvements, leading to higher market rents and increased investment yield.
Well-Maintained Multi-Family Property:
- 25,000 SF across 5 stories, with a typical floor size of 3,368 SF, providing spacious unit layouts.
- Class C construction, allowing for modernization and value-add opportunities.
- Investor-friendly asset with low vacancy rates and strong tenant demand.
Strong Upper East Side Rental Market:
- The Upper East Side remains one of Manhattan’s most sought-after residential neighborhoods, attracting professionals, families, and long-term renters.
- Ideal for multi-family investors, developers, or value-add specialists looking to maximize returns in a high-appreciation market.
- Competitive pricing at $17,500,000 ($437,500/unit), presenting a strong entry point into a well-established NYC rental market.
Investment Highlights:
✔ 40-unit mid-rise apartment building in the Upper East Side
✔ $17,500,000 asking price ($437,500/unit) with a mix of market-rate and rent-stabilized apartments
✔ 25,000 SF total space with 3,368 SF typical floor layout
✔ Strong rental income with future value-add potential
✔ Prime location near Central Park, shopping districts, and major transit hubs
Conclusion:
324-326 E 84th Street is a highly desirable investment opportunity for multi-family investors seeking a well-positioned asset in a prime Manhattan neighborhood. With market-rate and rent-stabilized units, strong appreciation potential, and a premium Upper East Side location, this property is ideal for investors looking for stable cash flow and long-term capital growth.
Contact us today to schedule a private tour and secure this premier investment property!
