Residential Investment Property for Sale – 352 E 19th Street, New York, NY 10003
Asking Price: $2,999,999 ($375,000 / Unit)
Cap Rate: — (not specified)
Sale Type: Investment
Property Type: 3-Star Mid-Rise Apartments
Location: CBD – Gramercy / East Village Border (10003)
Availability: Immediate
Property Overview
352 East 19th Street presents an 8-unit multifamily investment opportunity in Manhattan’s highly desirable Gramercy / East Village submarket. The 4-story, 4,196 SF building offers a mix of market-rate apartments with an average unit size of ~500 SF.
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With its prime location, stable tenant demand, and strong rental growth in the area, this property represents a compelling value-add or long-term hold opportunity for investors seeking a foothold in Manhattan’s core residential market.
Key Features
- Total Units: 8
- Asking Price per Unit: $375,000
- Stories: 4
- Gross Building Area (GBA): 4,196 SF
- Typical Floor Size: ~1,000 SF
- Average Unit Size: 500 SF
- Building Class: C (3-Star Mid-Rise)
- Lot Density: ~83 units per acre
- Construction: Masonry, walk-up configuration
Market Profile
- Rent Type: 100% Market-rate units
- Neighborhood Demand: Strong rental demand in Gramercy/East Village, driven by students, young professionals, and long-term residents
- Competitive Advantage: At $375K/unit, this building trades below replacement cost and offers rental upside compared to neighboring Gramercy and East Village properties
Financial Highlights
- Asking Price: $2,999,999
- Price per Unit: $375,000
- Price per SF: ~$715 (based on GBA)
- Cap Rate: Not specified; buyer to underwrite based on in-place and projected rents
- Upside Potential: Opportunity to increase NOI through unit upgrades and repositioning
Location Advantages
- Neighborhood: Gramercy / East Village border – one of Manhattan’s strongest rental submarkets
- Proximity: Union Square, Stuyvesant Square, East River Park, and NYU/Baruch campuses
- Transit: Excellent subway access (L, 4/5/6, N/Q/R/W) at Union Square and 3rd Avenue
- Tenant Base: Stable mix of professionals, students, and long-term renters
Summary
The 8-unit, 4,196 SF property at 352 E 19th Street is offered at $2.99M ($375K/unit), providing investors with an accessible entry point into Manhattan’s multifamily market. With market-rate units, consistent rental demand, and long-term appreciation potential, this asset represents a strong core-plus investment opportunity in a prime location.
