Boutique Multifamily Investment in Lenox Hill – 231 East 60th Street
Asking Price: $4,400,000
Price/Unit: $1,100,000
Units: 4 (All Market-Rate)
Gross Building Area (GBA): 5,100 SF
Stories: 5
Class: C (Mid-Rise Apartment Building)
Rent Type: Market Rate
Location: Lenox Hill / Upper East Side – Manhattan CBD
Status: Active – Investment Offering
Property Overview:
231 East 60th Street offers a rare opportunity to acquire a fully market-rate, boutique multifamily asset in the heart of Manhattan’s prestigious Upper East Side. With only four units across five stories, this 5,100-square-foot property is ideal for investors seeking long-term appreciation, stable income, and minimal management in a prime location.
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Investment Highlights:
- All Market-Rate Units: No rent regulation exposure; full income flexibility
- Turnkey Asset: Well-maintained with strong in-place tenancy and upside through interior upgrades
- Efficient Configuration: 4 spacious units averaging 1,275 SF – highly attractive to end-users or luxury renters
- Premium Location: Steps from Bloomingdale’s, Central Park, FDR Drive, and major transit
- Investor/End-User Flexibility: Excellent candidate for conversion to owner-occupied, pied-à-terre, or luxury rental
Location Benefits:
- Situated between 2nd and 3rd Avenues in Lenox Hill, one of Manhattan’s most desirable submarkets
- Close to major retail, hospitals, cultural institutions, and luxury residential towers
- Near 4/5/6, N/R/W, and F subway lines for easy access throughout the city
Summary Metrics:
- Price: $4,400,000
- Units: 4
- Stories: 5
- GBA: 5,100 SF
- Average Unit Size: ~1,275 SF
- Typical Floorplate: 920 SF
- Class: C
- Zoning: Residential / Market
Conclusion:
231 East 60th Street is an exceptional opportunity to acquire a boutique multifamily asset with full market-rate income in a blue-chip Manhattan neighborhood. Whether held for income, future redevelopment, or partial owner occupancy, this asset checks all boxes for long-term stability and value appreciation in a high-demand rental corridor.
Contact us today to receive full offering details, rent roll, or to schedule a private tour.
