Residential Investment Property for Sale – 53 E 7th Street, New York, NY 10003

Asking Price: $5,500,000 ($458,333 / Unit)
Cap Rate: 6.31%
Sale Type: Investment
Property Type: 3-Star Mid-Rise Apartments
Location: CBD (East Village)
Availability: Immediate

Property Overview

53 East 7th Street presents a strong multifamily investment opportunity in the East Village, one of Manhattan’s most in-demand rental submarkets. The property consists of 12 residential units across a 6-story, 10,116 sq. ft. building. With a mix of market-rate and rent-stabilized units (6 affordable units), the property offers investors both stable, long-term cash flow and upside potential through market rents.

Key Features

• Units: 12 total (6 rent-stabilized, 6 market-rate)
• Stories: 6
• Gross Building Area (GBA): 10,116 sq. ft.
• Typical Floor Size: 1,686 sq. ft.
• Building Class: C (3-Star Mid-Rise)
• Lot Density: 215 units per acre
• Affordable Type: Rent Stabilized

Rent & Market Profile

• Rent Type: Mix of Market and Affordable Units
• Affordable Units: 6 rent-stabilized apartments ensure stable tenancy and consistent income
• Neighborhood Demand: East Village apartments remain in high demand with low vacancy rates, particularly among young professionals and students

Financial Highlights

• Cap Rate: 6.31% (attractive for a stabilized Manhattan multifamily asset)
• Asking Price per Unit: $458,333
• Upside Potential: Ability to capture higher rents over time as stabilized units naturally transition to market rates

Location Advantages

• Located in the East Village, a neighborhood with strong rental demand, vibrant nightlife, and cultural appeal
• Proximity to NYU, Cooper Union, Tompkins Square Park, and Lower Manhattan employment hubs
• Excellent access to public transit (L, 6, N, R, W trains)

Summary

The 12-unit, 10,116 sq. ft. property at 53 East 7th Street is a compelling East Village multifamily investment, offering a balance of stable rent-stabilized income and long-term market growth potential. With a 6.31% cap rate, strong tenant base, and prime location, this asset is well-positioned as a core-plus multifamily acquisition in Manhattan.