Multi-family

Prime East Village Multi-Family Investment – 123 2nd Avenue

Address: 123 2nd Avenue, New York, NY, 10003
Asking Price: $14,500,000 ($1,812,500/Unit)
Cap Rate: 3.76%
Sale Type: Investment
Asset Type: 2-Star Low-Rise Apartment Buildings
Location: CBD – East Village
Units: 8 Residential Units
Stories: 5
Buildings on Site: 3
Building Class: C
Gross Building Area (GBA): 10,488 SF
Typical Floor Size: 2,098 SF
Units per Acre: 6/AC
Rent Type: Market Rate

Property Overview:

123 2nd Avenue presents a trophy multifamily investment opportunity in the heart of the East Village, one of Manhattan’s most iconic and high-demand rental neighborhoods. This fully market-rate asset features 8 residential units across three buildings with a combined 10,488 SF of rentable area. With a stable cap rate and future upside potential, this is a rare chance to acquire a scaled, centrally located residential property in a tightly held submarket.

Investment Highlights:

✔ Core East Village Location: Located on a prominent avenue near East 7th Street, close to NYU, Tompkins Square Park, and Astor Place—one of the most trafficked and trend-forward districts in NYC.

✔ Fully Market-Rate Units: High-quality tenant base with no rent-stabilized restrictions, offering future rent appreciation potential.

✔ Rare 3-Building Assemblage: Unique multi-structure layout across a single tax lot, allowing for creative long-term redevelopment or condo conversion (subject to approvals).

✔ Stable In-Place Cash Flow: 3.76% cap rate in a neighborhood with high occupancy and consistent rental demand.

✔ East Village Renter Appeal: Surrounded by cafes, nightlife, art venues, and global cuisine—prime for students, professionals, and creatives.

Property Summary:

• Price: $14,500,000
• Cap Rate: 3.76%
• Residential Units: 8
• Stories: 5
• Gross Building Area: 10,488 SF
• Buildings on Site: 3
• Class: C
• Market Segment: All
• Rent Type: Market

Conclusion:

123 2nd Avenue is a rare and scalable investment offering in one of Manhattan’s most resilient rental markets. With full market-rate status, a strong location, and a healthy in-place return, this asset is perfect for investors seeking long-term growth, stable income, and core NYC real estate.

Request a full Offering Memorandum, rent roll, and schedule a private tour today.