Multi-family

Investment Sale – 128 E 65th Street, New York, NY 10065

Asking Price: $8,100,000
Price per Unit: ≈ $1,620,000
Cap Rate: 3.00%
Sale Type: Investment
Property Type: 2-Star Mid-Rise Apartments
Location: Upper East Side / Lenox Hill (10065)
Availability: Immediate

Property Overview

128 E 65th Street presents a rare 5-unit multifamily investment opportunity in the prestigious Upper East Side. Built in 1939, the 5,394 SF building spans four stories with a typical floorplate of 1,348 SF. Units are individually metered, offering operational efficiency and stable long-term income.

The property features spacious average unit sizes (~1,078 SF each) and market-rate rental positioning, making it an attractive choice for investors targeting steady income with potential upside through renovations or repositioning.

Key Features

• Total Units: 5
• Avg. Unit Size: ≈ 1,078 SF
• Stories: 4
• Gross Building Area (GBA): 5,394 SF
• Typical Floor Size: 1,348 SF
• Price per Unit: ≈ $1,620,000
• Year Built: 1939
• Class: C (2-Star Mid-Rise Apartments)
• Construction: Masonry
• Roof: Flat
• Siding: Brick
• Elevators: 1
• Metering: Individually metered utilities

Financial Profile

• Asking Price: $8,100,000
• Cap Rate: 3.00%
• Rent Type: Market
• Market Segment: All residential
• Units per Area: 125 per acre

Market Profile

Location Advantage: Situated in Lenox Hill on the Upper East Side, one of Manhattan’s most desirable residential neighborhoods, surrounded by luxury retail, cultural institutions, Central Park, and world-class healthcare facilities.

Transit Access: Close to Lexington Ave/63rd St (Q, F) and 68th St–Hunter College (6).

Neighborhood Demand: Consistently strong rental demand from professionals, medical staff, and affluent residents seeking proximity to Midtown and Central Park.

Competitive Advantage: Rare boutique multifamily investment in the Upper East Side with market-rate rents, individually metered units, and stable income generation.

Summary

The 5-unit, 5,394 SF apartment building at 128 E 65th Street, New York, NY 10065 is offered at $8,100,000 (~$1,620,000/unit) with a 3.00% cap rate. With individually metered utilities, spacious market-rate apartments, and a prime Lenox Hill location, this property represents an excellent opportunity for investors seeking long-term value in one of Manhattan’s most prestigious multifamily submarkets.