Multi-family

Residential Investment Property for Sale – 320 E 11th Street, New York, NY 10003

Asking Price: $4,200,000 ($131,250 / Unit)
Cap Rate: TBD (Market-Rate)
Sale Type: Investment
Property Type: 2-Star Mid-Rise Apartments (Walk-Up)
Location: CBD – East Village
Availability: Immediate

Property Overview

320 East 11th Street presents a value-add multifamily investment opportunity in the East Village, one of Manhattan’s most dynamic and high-demand rental neighborhoods. Built in 1900, this 4-story walk-up masonry building contains 32 market-rate residential units across 16,000 sq. ft. of gross building area (GBA).

With an average unit size of 300 sq. ft., the property is well-positioned to serve the area’s strong demand from students, young professionals, and entry-level renters seeking affordable housing in a prime downtown location.

Key Features

• Total Units: 32 (all market-rate)
• Avg. Unit Size: 300 sq. ft.
• Stories: 4 (walk-up design)
• Gross Building Area (GBA): 16,000 sq. ft.
• Typical Floor Size: 1,646 sq. ft.
• Building Class: C (2-Star Mid-Rise)
• Construction: Masonry
• Year Built: 1900
• Lot Density: 594 units/acre
• # of Buildings: 1

Rent & Market Profile

• Rent Type: 100% market-rate units
• Tenant Base: Strong demand from NYU/Cooper Union students, young professionals, and first-time renters
• Neighborhood Demand: East Village continues to experience low vacancy rates, driven by cultural appeal, nightlife, and proximity to major employment hubs

Financial Highlights

• Asking Price: $4,200,000 ($131,250 per unit)
• Cap Rate: TBD – attractive upside potential with repositioning or upgrades
• Upside Potential: Renovations and unit upgrades could significantly increase rents; building is well-positioned for long-term appreciation in a tight rental submarket

Location Advantages

• Neighborhood: East Village – Central Business District (CBD) submarket
• Proximity: Close to NYU, Cooper Union, Tompkins Square Park, and Lower Manhattan employment centers
• Transit: Excellent subway access (L, 6, N, R, W trains) and bus routes
• Lifestyle: Vibrant residential community with cultural attractions, dining, and nightlife

Summary

The 32-unit, 16,000 sq. ft. property at 320 East 11th Street offers investors a rare chance to acquire a market-rate multifamily building in the East Village. With its competitive unit pricing ($131,250/unit), historic walk-up construction, and prime downtown location, the property provides immediate cash flow with substantial upside potential through rent growth and repositioning.