Multi-family

Located in the heart of New York City’s Central Business District (CBD), 21 West 9th Street offers a rare opportunity to invest in a condominium property with significant potential for income generation and asset appreciation. Priced at $8,000,000, this 2-star mid-rise apartment condominium features 17 units and is ideally positioned for both residential and investment purposes.

Property Highlights

• Sale Price: $8,000,000
• Units: 17
• Gross Building Area (GBA): 24,000 SF
• Typical Floor Size: 6,000 SF
• Stories: 4
• Building Class: C
• Market Segment: All
• Rent Type: Market

Key Features

1. Central Location: Situated in a vibrant and desirable neighborhood, the property benefits from proximity to retail shops, restaurants, cultural landmarks, and public transportation.
2. Investment Potential: With 17 market-rate units, this property offers a stable revenue stream, catering to the high demand for housing in this prime location.
3. Spacious Design: Each floor spans approximately 6,000 square feet, providing ample living space, appealing to tenants and enhancing long-term leasing potential.
4. Solid Construction: Classified as a 2-star mid-rise property, the building represents a stable investment in need of minor upgrades to unlock additional value.

Opportunities

This property is ideal for investors looking to:

• Expand their portfolio in a prime NYC location.
• Generate steady rental income from market-rate units.
• Upgrade or renovate units for increased market competitiveness and tenant retention.

Conclusion

21 West 9th Street presents a compelling investment option in one of New York City’s most dynamic and sought-after areas. Its blend of market-rate units, spacious design, and prime location makes it an attractive asset for seasoned investors.