Investment Sale – 249 East Broadway, New York, NY 10002
Asking Price: $4,250,000
Price per Unit: ≈$1,062,500
Sale Type: Investment
Property Type: 3-Star Mid-Rise Apartments
Location: Lower East Side / CBD (10002)
Property Overview
249 East Broadway presents a 4-unit, 5-story multifamily building in Manhattan’s Lower East Side, one of the city’s most dynamic residential and cultural corridors. Constructed in 1910, this Class C mid-rise property offers 5,200 SF of gross building area (GBA) across masonry construction with typical floor sizes of 1,722 SF.
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With market-rate tenancy, boutique scale, and individual metering, the property offers both stabilized income and value-add potential for investors seeking long-term positioning in a fast-evolving downtown submarket.
Key Features
- Total Units: 4
- Asking Price: $4,250,000
- Price per Unit: ≈$1,062,500
- Gross Building Area (GBA): ≈5,200 SF
- Typical Floor Size: ≈1,722 SF
- Stories: 5
- Class: C / 3-Star Mid-Rise Apartments
- Units per Acre: ≈100/AC
- # of Buildings: 1
- Construction: Masonry
- Metering: Individually metered units
- Year Built: 1910
Market Profile
- Location Advantage: Prime Lower East Side address, near East Broadway, Grand Street, and the East River Esplanade.
- Transit Access: Close to East Broadway (F), Delancey/Essex (F/M, J/Z), and Grand Street (B/D).
- Neighborhood Demand: Strong residential rental demand from students, young professionals, and long-term residents in one of Manhattan’s most active neighborhoods.
- Competitive Advantage: Boutique 4-unit investment with market rent potential and efficient operations through individual unit metering.
Financial Overview
- Asking Price: $4,250,000
- Price per Unit: ≈$1,062,500
- Rent Type: Market
- Potential Upside: Renovation/repositioning and rent optimization in a high-demand Lower East Side corridor
Summary
The 4-unit, 5,200 SF multifamily building at 249 East Broadway, New York, NY 10002 is offered for $4,250,000 (~$1,062,500 per unit). With its Lower East Side location, individually metered units, and market-rate potential, this property provides a rare boutique-scale investment in one of Manhattan’s most desirable rental markets.
