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).
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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.
