Multi-family

Investment Opportunity in the Upper West Side – 46 West 87th Street

Address: 46 West 87th Street, New York, NY, 10024
Price: $7,800,000 ($600,000/Unit)
Cap Rate: 5.13%
Sale Type: Investment
Type: 2-Star Mid-Rise Apartments
Location: Urban
Units: 13
Stories: 4
Building Class: C
Gross Building Area (GBA): 8,861 SF
Typical Floor Size: 2,215 SF
Number of Buildings: 1
Units per Acre: 260/AC
Market Segment: All
Rent Type: Market

Property Overview:

Situated in the heart of the Upper West Side, 46 West 87th Street presents an exceptional investment opportunity in one of Manhattan’s most desirable residential neighborhoods. With a solid cap rate of 5.13% and 13 market-rate units, this property offers strong income potential and long-term appreciation in a high-demand rental market.

Key Features:

Prime Upper West Side Location:

✔ Steps from Central Park, ensuring high tenant demand.
✔ Surrounded by historic brownstones, luxury residences, and cultural institutions.
✔ Close to Columbia University, Lincoln Center, and top-tier schools, attracting professionals and families.

Stable Income-Generating Property:

✔ 13 market-rate rental units, offering steady cash flow.
✔ 4-story mid-rise building with efficient floor layouts and a total GBA of 8,861 SF.
✔ Well-maintained property in a high-demand rental market.

Excellent Transit Access:

✔ Close to major subway lines (B, C at 86th Street, 1 at 86th Street-Broadway), ensuring easy commuting.
✔ Well-connected by multiple bus routes and pedestrian-friendly streets.

Highlights:

✔ Prime multifamily investment in the Upper West Side
✔ $7,800,000 asking price with a 5.13% cap rate
✔ 8,861 SF of gross building area across 13 market-rate units
✔ Strong rental demand with long-term appreciation potential
✔ Steps from Central Park and key Upper West Side attractions

Conclusion:

46 West 87th Street presents a fantastic opportunity for investors seeking a high-value multifamily asset in a stable and desirable NYC neighborhood. With strong tenant appeal, consistent rental income, and a prime location, this property is an ideal addition to any investment portfolio.

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