Multi-family

Multi-Family Investment Opportunity in East Harlem – 1509 Lexington Ave

Address: 1509 Lexington Ave, New York, NY, 10029
Price: $8,575,000 ($504,412/Unit)
Sale Type: Investment (Part of a Portfolio)
Type: 2-Star Mid-Rise Apartments
Location: Urban
Units: 8
Stories: 5
Building Class: C
Gross Building Area (GBA): 8,655 SF
Typical Floor Size: 1,523 SF
Number of Buildings: 1
Units per Acre: 160/AC
Market Segment: All
Rent Type: Market

Property Overview:

Located in East Harlem, 1509 Lexington Avenue presents a solid multi-family investment opportunity with a steady income stream in a rapidly growing neighborhood. With proximity to major transit, cultural landmarks, and a strong rental market, this mid-rise property is ideal for investors looking for value-add potential in a prime urban setting.

Key Features:

Strategic East Harlem Location:

✔ Situated on Lexington Avenue, a key commercial and residential corridor in Upper Manhattan.
✔ Steps from Central Park, Museum Mile, and a variety of shopping, dining, and entertainment options.
✔ Surrounded by new developments and ongoing neighborhood revitalization, making it a prime investment location.

Income-Producing Multi-Family Property:

✔ 8 residential units offering a mix of layouts to attract long-term tenants.
✔ Market-rate rentals with strong occupancy potential in a high-demand area.
✔ Well-maintained 5-story mid-rise building with an efficient floor plan.

Excellent Transit Access:

✔ Steps from the 6 train at 103rd Street, providing quick commutes to Midtown and Downtown Manhattan.
✔ Well-connected by multiple bus routes and bike-friendly streets.

Highlights:

✔ Multi-family investment opportunity in an emerging neighborhood
✔ $8,575,000 asking price for 8 market-rate rental units
✔ 8,655 SF of gross building area in a well-maintained mid-rise property
✔ High demand for rental housing in East Harlem with steady income potential
✔ Easy access to Central Park, major transit hubs, and retail corridors

Conclusion:

1509 Lexington Avenue presents an excellent opportunity for investors looking to acquire a multi-family asset in an evolving and high-growth market. With strong rental demand, a strategic location, and long-term appreciation potential, this property is a smart addition to any investment portfolio.

Contact us today to schedule a private tour and explore this investment opportunity!