115 E 39th Street, New York, NY 10016
Price: $10,250,000 ($1,464,286 per unit)
Sale Type: Investment
Property Type: 2-Star Mid-Rise Apartments
Units: 7
Gross Building Area (GBA): 6,264 sq. ft.
Typical Floor Size: 1,253 sq. ft.
Stories: 5
Class: C
Number of Buildings: 1
Units per Acre: 185/AC
Market Segment: All
Rent Type: Market/Affordable
Affordable Units: 2 (Rent Stabilized)
Key Features:
Prime Murray Hill Location:
Nestled in the heart of Murray Hill, 115 E 39th Street benefits from a strategic location with easy access to Midtown Manhattan. The property is surrounded by various amenities, including dining, shopping, and cultural attractions, and is within close proximity to Grand Central Terminal, making it ideal for tenants who prioritize convenience and accessibility.
Investment Opportunity with Mixed Rent Types:
This property is structured to appeal to investors seeking both market-rate and rent-stabilized units. The building includes 2 affordable rent-stabilized units, providing a balanced portfolio approach with both steady income from market rents and the potential for long-term stability from affordable housing units.
Spacious Floor Layouts and Well-Maintained Structure:
With a gross building area of 6,264 sq. ft. and a typical floor size of 1,253 sq. ft., each floor is designed for comfort and functionality. The building is Class C, offering a well-maintained structure suitable for a wide variety of tenants, with the potential for interior upgrades or customization to further enhance its appeal.
Steady Demand in Murray Hill’s Thriving Market:
As a desirable residential area in the Central Business District, Murray Hill provides a stable rental demand, making this an appealing option for investors. The combination of market-rate and affordable units ensures that this property can attract a diverse tenant base, with strong potential for long-term appreciation.
Conclusion:
115 E 39th Street represents a unique opportunity to acquire a multi-unit apartment property with a mix of market and affordable units in one of Manhattan’s most desirable neighborhoods. Priced at $10,250,000, this property is well-suited for investors seeking a reliable income stream in a location known for strong rental demand and an attractive lifestyle. With its balanced investment profile and prime location, 115 E 39th Street is an outstanding choice for those looking to enter or expand within the Manhattan real estate market.
