For Sale: 61 Sullivan Street, New York, NY 10012
Asking Price: $9,500,000
Price/Unit: $2,375,000
Cap Rate: 4.05%
Units: 4 Residential
Gross Building Area (GBA): 5,474 SF
Stories: 5
Class: C – Walk-Up Mid-Rise
Sale Type: Investment
Location: SoHo / Central Business District (CBD)
Rent Type: Market Rate
Property Overview:
61 Sullivan Street offers an exceptional boutique investment opportunity in the heart of SoHo, one of Manhattan’s most coveted residential and retail districts. This five-story, four-unit walk-up building spans approximately 5,474 square feet and delivers stable market-rate income with minimal management intensity.
Read More
Each unit is thoughtfully laid out and features expansive layouts, with the potential for luxury finishes or condo-quality upgrades. Located between Broome and Spring Streets, the property is surrounded by upscale retail, dining, and cultural institutions, making it a highly desirable address for long-term tenants or future resale.
Key Features:
- Fully market-rate, four-unit building
- Classic pre-war masonry construction
- Efficient floor plates (approx. 1,044 SF per floor)
- Situated on a quiet, tree-lined block in SoHo
- Excellent long-term appreciation potential in a supply-constrained submarket
- Close proximity to the 1, A/C/E, N/R/W, and Spring Street subway stations
Investment Highlights:
- Asking Price: $9,500,000
- Cap Rate: 4.05% (in-place)
- Price/Unit: $2,375,000
- Stable cash flow with low maintenance requirements
- Strong rental demand in a prime downtown location
- Rare small-scale SoHo multifamily asset with prestige and upside
Conclusion:
61 Sullivan Street is a premier opportunity to acquire a trophy-quality, fully market-rate asset in the core of SoHo, a submarket with enduring value, limited inventory, and exceptional rental demand. Perfect for long-term investors, family offices, or 1031 buyers seeking quality, location, and low operational intensity.
Contact us today for a full setup, rent roll, or to arrange a private tour.
