Multi-family

Prime Investment Opportunity in the Lower East Side – 102 Norfolk Street

Address: 102 Norfolk Street, New York, NY, 10002
Price: $42,000,000 ($253,012/Unit)
Sale Type: Investment
Type: 2-Star Mid-Rise Apartments
Location: Central Business District (CBD)
Units: 26
Average Unit Size: 611 SF
Stories: 6
Building Class: C
Gross Building Area (GBA): 19,904 SF
Typical Floor Size: 2,337 SF
Number of Buildings: 1
Units per Acre: 300/AC
Market Segment: All
Rent Type: Market

Property Overview:

Located in the heart of the Lower East Side, 102 Norfolk Street presents a prime multifamily investment opportunity in one of Manhattan’s most rapidly growing neighborhoods. This mid-rise apartment building offers 26 market-rate units, providing stable rental income and strong long-term appreciation potential in an area known for its cultural vibrancy, nightlife, and high demand for residential living.

Key Features:

Prime Lower East Side Location:

✔ Situated in a high-demand rental market near Essex Crossing, a major mixed-use development driving neighborhood growth.
✔ Steps from popular bars, restaurants, art galleries, and shopping destinations.
✔ Thriving cultural and nightlife scene attracts young professionals, creatives, and long-term tenants.

Strong Income-Generating Property:

✔ 26 well-sized rental units averaging 611 SF each.
✔ 6-story mid-rise building with a total GBA of 19,904 SF, ensuring strong revenue potential.
✔ Fully market-rate units allow for rental price flexibility and future growth.

Excellent Transit Access:

✔ Close to major subway lines (F, M, J, Z at Delancey-Essex Street), providing easy commuting options.
✔ Well-connected to multiple bus routes and bike-friendly streets, increasing accessibility for tenants.

Highlights:

✔ Prime multifamily investment in the Lower East Side
✔ $42,000,000 asking price with 26 market-rate units
✔ 19,904 SF of gross building area in a rapidly growing neighborhood
✔ High-demand rental market with long-term appreciation potential
✔ Steps from Essex Market, nightlife, and cultural attractions

Conclusion:

102 Norfolk Street presents a unique opportunity for investors looking to acquire a high-performing multifamily asset in a thriving Manhattan neighborhood. With strong tenant demand, long-term growth potential, and a prime location in the Lower East Side, this property is a valuable addition to any investment portfolio.

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