Multi-family
- $49,000,000
- $49,000,000
Description
Large-Scale Multifamily Investment in Midtown East – 230–238 E 44th Street
Address: 230–238 East 44th Street, New York, NY, 10017
Price: $49,000,000 ($298,780/Unit)
Cap Rate: 6.50%
Sale Type: Investment
Type: 2-Star Mid-Rise Apartment Building
Location: CBD (Midtown East)
Units: 164 Residential Units
Average Unit Size: 533 SF
Stories: 14
Gross Building Area (GBA): 135,315 SF
Typical Floor Size: 6,689 SF
Number of Buildings: 1
Building Class: C
Units per Acre: 547/AC
Market Segment: All
Rent Type: Market
Property Overview:
230–238 East 44th Street is a trophy-scale multifamily investment opportunity located in the heart of Midtown East, offering 164 market-rate units in a well-established rental building. Spanning over 135,000 SF, this property is ideal for investors seeking strong in-place cash flow with a 6.5% cap rate, coupled with long-term value in one of Manhattan’s most resilient rental submarkets.
Key Features:
Prime Midtown East Location:
- Centrally located between 2nd and 3rd Avenues, just blocks from Grand Central Terminal, the United Nations, and major office hubs
- Surrounded by government buildings, consulates, medical institutions, and top-tier employers
- Walkable to major amenities, parks, and transit, making it a desirable area for working professionals and international tenants
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