Prime Multi-Family Investment Opportunity in the Upper East Side
Address: 340 E 70th Street, New York, NY, 10021
Price: $8,900,000 ($1,483,333/Unit)
Cap Rate: 5.44%
Sale Type: Investment
Type: 3-Star Mid-Rise Apartment Building
Property Overview:
Located in the prestigious Upper East Side, 340 E 70th Street presents a rare investment opportunity in a high-demand residential market. This Class B mid-rise property features six residential units across four stories, offering stable rental income and long-term appreciation potential. With a strong 5.44% cap rate, this asset is ideal for investors seeking a high-value multi-family property in one of NYC’s most sought-after neighborhoods.
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Key Features:
Prime Upper East Side Location:
- Situated in a highly desirable residential area, just steps from shopping, fine dining, and cultural attractions.
- Close proximity to Park Avenue, Madison Avenue, and Central Park, ensuring strong tenant demand.
- Surrounded by high-end residential buildings, retail stores, and major transit lines.
Well-Designed & Efficient Layout:
- Six residential units, each offering comfortable living spaces and modern amenities.
- Gross Building Area (GBA) of 7,060 SF, with a typical floor plate of 1,765 SF, ensuring efficient use of space.
- Four-story structure with a density of 150 units per acre, optimizing occupancy and rental potential.
Investment Potential & Market Appeal:
- 5.44% cap rate, providing stable returns and consistent rental income.
- Market-rate rental structure, allowing for rent increases and long-term appreciation.
- High-income tenant base, due to the property’s prime location and luxury neighborhood appeal.
Excellent Transit Access:
- Steps from major subway lines (4, 5, 6, F, Q, N, R, W), ensuring easy access across NYC.
- Close to major business districts, making it a preferred location for working professionals.
Highlights:
✔ $8,900,000 multi-family investment in the Upper East Side
✔ Six-unit, four-story mid-rise apartment building with market-rate rentals
✔ 5.44% cap rate, providing stable and attractive returns
✔ Prime location near Central Park, top-tier schools, and luxury shopping
✔ Convenient transit access, with multiple subway lines and business hubs nearby
Conclusion:
340 E 70th Street presents a unique opportunity for investors looking to acquire a high-yield, well-positioned multi-family asset in one of Manhattan’s most prestigious neighborhoods. With its strong rental income, high cap rate, and prime location, this property is ideal for those seeking a stable, long-term investment in the NYC real estate market.
Contact us today to schedule a private tour and explore this exceptional investment opportunity!
