Multi-family

Prime Multifamily Investment in the East Village – 31-33 2nd Avenue

Address: 31-33 2nd Avenue, New York, NY, 10003
Price: $30,000,000 ($1,500,000/Unit)
Cap Rate: 3.67%
Sale Type: Investment
Type: 3-Star Mid-Rise Apartments
Location: Central Business District (CBD)
Units: 20
Stories: 6
Building Class: B
Gross Building Area (GBA): 16,000 SF
Typical Floor Size: 4,028 SF
Number of Buildings: 1
Units per Acre: 167/AC
Market Segment: All
Rent Type: Market

Property Overview:

Located in the heart of the East Village, 31-33 2nd Avenue presents an exceptional multifamily investment opportunity in one of Manhattan’s most sought-after neighborhoods. With 20 market-rate units, this well-maintained 6-story mid-rise building offers stable rental income, strong tenant demand, and long-term appreciation potential in a high-growth real estate market.

Key Features:

Prime East Village Location:

✔ High-demand rental area, popular with students, young professionals, and creatives.
✔ Steps from Tompkins Square Park, Union Square, and vibrant nightlife and dining options.
✔ Surrounded by cultural attractions, boutique retail, and top-rated restaurants.

Strong Investment Potential:

✔ 3.67% cap rate, offering solid returns in a prime NYC rental market.
✔ 20 market-rate units, allowing for rental growth and long-term appreciation.
✔ Consistently high occupancy rates, driven by strong tenant demand.

Building Features:

✔ 16,000 SF total across 6 stories, with 4,028 SF typical floor layout.
✔ Well-maintained pre-war construction, blending classic architecture with modern updates.
✔ Spacious and well-designed apartment layouts catering to NYC renters.

Excellent Transit Access:

✔ Close to major subway lines (F at 2nd Avenue, 6 at Astor Place, N, R, W at 8th Street-NYU).
✔ Well-connected via bus routes and bike-friendly streets.

Highlights:

✔ Prime multifamily investment in the East Village.
✔ $30,000,000 asking price with a 3.67% cap rate.
✔ 20 market-rate units, ensuring stable rental income.
✔ Strong appreciation potential in a fast-growing neighborhood.
✔ Surrounded by parks, nightlife, restaurants, and major cultural attractions.

Conclusion:

31-33 2nd Avenue is a highly desirable investment property in one of NYC’s most vibrant rental markets. With steady rental demand, market-rate units, and excellent long-term growth potential, this property is perfect for investors looking to expand their multifamily portfolio in a prime East Village location.

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