Premier Multi-Family Investment Opportunity in Greenwich Village – 159 Bleecker Street
Address: 159 Bleecker Street, New York, NY, 10012
Price: $40,000,000 ($1,600,000/Unit)
Cap Rate: 5.39%
Sale Type: Investment
Type: 3-Star Mid-Rise Apartments
Location: Central Business District (CBD) – Landmark Area
Units: 25
Average Unit Size: 1,053 SF
Stories: 8
Building Class: B
Gross Building Area (GBA): 28,380 SF
Typical Floor Size: 3,787 SF
Number of Buildings: 1
Units per Acre: 218/AC
Market Segment: All
Rent Type: Market/Affordable
Affordable Type: Affordable Units
Investment Overview:
159 Bleecker Street presents a rare opportunity to acquire a prime multi-family property in Greenwich Village, one of New York City’s most desirable residential and commercial neighborhoods. With 25 units spread across 8 stories, this investment offers a blend of market-rate and affordable units, providing both steady cash flow and long-term appreciation potential in a high-demand rental market.
Key Features:
Prime Greenwich Village Location:
- Iconic Bleecker Street location, known for its historic charm, vibrant nightlife, and high-end retail and dining options.
- Steps from Washington Square Park, NYU, and SoHo, ensuring strong demand from students, professionals, and affluent renters.
- Surrounded by trendy cafés, boutique shopping, and cultural institutions, making it an attractive rental destination.
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Stable Rental Income & Appreciation Potential:
- 25 units, offering a mix of market-rate and affordable housing, ensuring diversified income streams and long-term occupancy stability.
- Strong 5.39% cap rate, making it an attractive yield investment in a core NYC neighborhood.
- Opportunity for rent growth and value-add enhancements, further increasing ROI potential.
Well-Maintained Multi-Family Property:
- 28,380 SF across 8 stories, featuring spacious unit layouts averaging 1,053 SF.
- Class B construction, with modernized interiors and well-kept common areas.
- Investor-friendly asset with low vacancy rates and long-term tenant retention.
Excellent Transit Access:
- Steps from major subway lines (A, B, C, D, E, F, M at West 4th Street, 6 at Bleecker Street, R, W at Prince Street), ensuring seamless connectivity to the rest of NYC.
- Well-served by bus routes, CitiBike stations, and pedestrian-friendly streets, increasing tenant desirability.
Strong Rental Demand & Market Positioning:
- Greenwich Village remains one of NYC’s most sought-after neighborhoods, attracting high-income professionals, students, and international renters.
- Ideal for long-term investors, developers, or institutional buyers looking to acquire a high-performing, appreciation-driven asset.
- Competitive pricing at $40,000,000 ($1,600,000/unit), offering exceptional value for a landmark mid-rise asset in a prime location.
Investment Highlights:
✔ 25-unit mid-rise apartment building in the heart of Greenwich Village
✔ $40,000,000 asking price ($1,600,000/unit) with a strong 5.39% cap rate
✔ 28,380 SF total space with modernized interiors and large unit layouts
✔ Stable rental income with long-term appreciation potential
✔ Prime location near NYU, SoHo, Washington Square Park, and major transit hubs
Conclusion:
159 Bleecker Street is a blue-chip investment opportunity in one of Manhattan’s most iconic neighborhoods. With a strong mix of market and affordable housing, a competitive cap rate, and a prime Greenwich Village location, this property offers both stable cash flow and significant long-term appreciation potential.
Contact us today to schedule a private tour and secure this premier multi-family investment property!
