Investment Property for Sale – 202 Hester Street, New York, NY 10013
Asking Price: $5,500,000 ($687,500 per unit)
Sale Type: Investment Opportunity
Property Type: 3-Star Mid-Rise Apartment Building
Location: Chinatown / Lower Manhattan (CBD)
Property Overview
202 Hester Street is a 5-story, 8-unit mid-rise multifamily building located in the heart of Lower Manhattan’s Chinatown, one of the city’s most culturally rich and high-demand rental markets. With a gross building area of 5,933 sq. ft. and a typical floor plate of 1,187 sq. ft., this building offers investors a stable market-rate rental income stream with potential for long-term value appreciation.
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Key Features
- Asking Price: $5,500,000
- Price per Unit: $687,500
- Units: 8 (all market-rate)
- Gross Building Area (GBA): 5,933 sq. ft.
- Typical Floor Size: 1,187 sq. ft.
- Stories: 5
- # of Buildings: 1
- Class: C
- Units per Acre: 133
- Rent Type: Market
Building Information
- Type: 3-Star Mid-Rise Apartment Building
- Construction: Standard multifamily mid-rise structure
- Market Segment: All (broad renter base)
- Year Built: Not specified
- Condition: Class C asset with stable occupancy and upside potential
Location & Market Context
Situated on Hester Street in Chinatown, this property benefits from a dense residential and commercial environment with strong rental demand from both local residents and incoming professionals. The neighborhood offers proximity to SoHo, Nolita, Little Italy, and the Financial District, along with excellent public transportation options (B, D, N, Q, R, W, J, Z, and 6 lines).
Chinatown’s enduring appeal and continuous influx of renters create a stable environment for multifamily investments, while its adjacency to downtown’s growth corridors provides upside through repositioning or future appreciation.
Investment Highlights
- Rare 8-unit multifamily asset in Manhattan’s Chinatown.
- 100% market-rate units ensuring flexibility in rent growth.
- Efficient 5,933 sq. ft. GBA across 5 stories.
- Located in a supply-constrained CBD market with consistent rental demand.
- Attractive price per unit ($687,500) for Manhattan multifamily.
Summary
202 Hester Street represents an excellent value-add or long-term hold opportunity in the Chinatown/Lower Manhattan market. With 8 market-rate units, a prime downtown location, and steady tenant demand, the property offers investors both immediate cash flow and long-term appreciation potential.
