Multi-family

Value-Add Multifamily Investment on the Upper East Side – 443 East 88th Street

Address: 443 East 88th Street, New York, NY, 10128
Price: $17,950,000 ($718,000 per Unit)
Cap Rate: 5.80%
Sale Type: Investment Sale
Type: 3-Star Mid-Rise Apartments
Location: Urban – Upper East Side / Yorkville
Units: 25 Residential Units
Avg Unit Size: 630 SF
Stories: 6 Stories
Building Class: B
Gross Building Area (GBA): 16,244 SF
Typical Floor Size: 3,124 SF
Number of Buildings: 1
Units per Acre: 271 Units/AC
Market Segment: All (Individual & Institutional Investors)
Rent Type: Market / Affordable
Affordable Type: Rent Stabilized

Investment Overview:

443 East 88th Street presents a prime multifamily investment opportunity located in the heart of the Upper East Side’s Yorkville neighborhood. With 25 total units—many of which are market-rate and a portion rent stabilized—this six-story, elevator building offers immediate in-place cash flow with significant upside potential through unit turnover and long-term value appreciation.

Key Features:

Premier Upper East Side Location:

✔ Positioned on a quiet residential block between York and 1st Avenues
✔ Steps from Carl Schurz Park, Gracie Mansion, and the East River Esplanade
✔ Surrounded by luxury condominiums, new developments, and key retail corridors

Stabilized Asset with Upside:

✔ 25-unit mix of market-rate and rent-stabilized apartments
✔ Attractive unit sizes averaging 630 SF
✔ Ideal for long-term hold investors seeking stable income with gradual value enhancement

Building Specifications:

✔ 16,244 SF Gross Building Area across 6 stories
✔ Typical floor size: 3,124 SF
✔ Single elevator building with efficient layout and solid mechanicals
✔ Units per acre: 271
✔ Class B asset offering moderate operational costs and strong occupancy

Financial Highlights:

✔ Asking Price: $17,950,000
✔ Price per Unit: $718,000
✔ Cap Rate: 5.80%
✔ Mix of market and rent-stabilized leases provides reliable base income and phased rent growth potential

Conclusion:

443 East 88th Street is an exceptional opportunity to acquire a stable, cash-flowing multifamily asset in one of Manhattan’s most livable and investor-friendly submarkets. With a strong in-place yield, protected downside through stabilized rents, and long-term upside via turnover and repositioning, this asset fits a wide range of multifamily strategies.

Contact us today to request the full offering memorandum or schedule a private property tour.