For Sale: Boutique Multifamily Investment – 1289 Madison Avenue, New York, NY 10128
Asking Price: $8,000,000
Price/Unit: $2,000,000
Cap Rate: 4.00%
GBA: 5,000 SF
Units: 4 Market-Rate Apartments
Stories: 5
Building Class: C
Building Type: 2-Star Mid-Rise Multifamily
Sale Type: Investment
Location: Carnegie Hill / Upper East Side – Madison Avenue & East 92nd Street
Status: Active
Property Overview:
1289 Madison Avenue offers an exclusive opportunity to acquire a rare 4-unit multifamily building in the heart of Carnegie Hill, one of Manhattan’s most prestigious residential enclaves. This five-story, 5,000 SF boutique building consists of four full-floor market-rate residences, each with large layouts and premium positioning on Madison Avenue—just steps from Central Park, Museum Mile, and the 92nd Street Y.
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The property is fully market-rate, delivering stable cash flow with future rental upside. With a 4.00% cap rate, investor appeal is further enhanced by the building’s architectural charm, minimal management demands, and enduring value in a blue-chip location.
Key Features:
- Four spacious, full-floor market-rate apartments
- Elegant pre-war façade in classic Carnegie Hill setting
- Prime Madison Avenue location near Central Park, top schools, and cultural institutions
- Solid in-place income with long-term appreciation potential
- Ideal for long-term hold, boutique condo conversion, or owner-user with rental income
Investment Highlights:
- Asking Price: $8,000,000
- Cap Rate: 4.00%
- Price/Unit: $2,000,000
- Gross Building Area: 5,000 SF
- Units: 4 (All Market-Rate)
- Stories: 5
- Typical Floor: 1,000 SF
- Highly coveted Upper East Side location with stable demand and limited supply
Conclusion:
1289 Madison Avenue presents a rare opportunity to own a fully market-rate multifamily asset in one of Manhattan’s most desirable neighborhoods. Whether held as a long-term generational investment or redeveloped into luxury condos or a single-family mansion conversion, this asset offers exceptional potential, classic charm, and prime Upper East Side positioning.
Contact us today to request the full offering memorandum, rent roll, or schedule a private tour.
