Multi-family

With strong neighborhood demographics, steady rental demand, and the ability to reposition through renovations or upgrades, this property provides a compelling balance of current income and long-term appreciation potential.

Key Features

• Total Units: 19
• Avg. Price per Unit: ≈ $521,053
• Stories: 4
• Gross Building Area (GBA): 19,500 SF
• Typical Floor Size: 3,665 SF
• Year Built: 1910
• Class: C (3-Star Mid-Rise Apartments)
• Construction: Masonry
• Units per Area: 331 per acre
• Rent Type: Market

Financial Profile

• Asking Price: $9,900,000
• Cap Rate: (Not provided – buyer to underwrite)
• Market Segment: All residential
• Income Type: Market-rent units with potential upside through upgrades

Market Profile

Location Advantage: Situated in Carnegie Hill on the Upper East Side, one of New York City’s most affluent and stable residential neighborhoods. Walking distance to Central Park, the 86th Street transit hub (Q, 4/5/6), and cultural institutions along Museum Mile.

Neighborhood Demand: Extremely strong demand from professionals, families, and students due to proximity to schools, medical centers, and Midtown. Market-rate rents and consistent occupancy provide steady investor returns.

Competitive Advantage: Rare opportunity to acquire a mid-size, 19-unit multifamily asset in an institutional-grade submarket, with long-term repositioning and appreciation potential.

Summary

The 19-unit, 19,500 SF multifamily property at 107–109 E 89th Street, New York, NY 10128 is offered at $9,900,000 (~$521,053/unit). With market-rate income, stable demand, and a prime Carnegie Hill location, this property represents an excellent opportunity for investors seeking long-term value in Manhattan’s Upper East Side.