Multi-family

Introducing 224-226 E 48th Street, New York, NY 10017—an exceptional investment opportunity located in the heart of Manhattan’s Central Business District. This 15,402 sq. ft. 3-star hi-rise apartment building offers a prime space for investors seeking a strong return in one of New York City’s most prestigious and high-demand neighborhoods.

Property Overview:

Address: 224-226 E 48th Street, New York, NY 10017
Price: $9,995,000 ($399,800/Unit)
Cap Rate: 4.52%
Sale Type: Investment
Type: 3-Star Hi-Rise Apartments
Units: 25
Stories: 6
Class: C
GBA: 15,402 sq. ft.
Typical Floor: 2,567 sq. ft.
# of Buildings: 1
Units per Acre: 290/AC
Market Segment: Corporate
Rent Type: Market

Key Features:

• Prime Central Location: Situated in Manhattan’s bustling Central Business District, this property benefits from proximity to major commercial hubs, office spaces, and a high concentration of corporate clients. Located on E 48th Street, the building enjoys high visibility and accessibility, attracting tenants who want to be near some of New York City’s top business, dining, and entertainment destinations.
• Investment Potential: With 25 units across 6 stories, this property offers an attractive investment opportunity for those looking to capture the high demand for corporate and market-rate housing in this highly sought-after location. At $9,995,000 and a cap rate of 4.52%, this property provides solid financial metrics for investors seeking stable returns.
• Efficient Unit Sizes: The units average 300 sq. ft., offering compact and efficient living spaces that cater to the corporate market. These units are ideal for professionals looking for affordable living options in a central, vibrant area, ensuring consistent rental income.
• Spacious Floors for Flexibility: Each of the 6 floors includes approximately 2,567 sq. ft. of space, providing ample room for flexible floor plans. The building’s layout allows for potential future modifications or enhancements to maximize tenant satisfaction and investment returns.
• Class C Building with Strong Stability: This 3-star hi-rise building is classified as a Class C property, offering investors an affordable option with long-term stability. Its structure provides a reliable foundation, and its location makes it an ideal choice for those seeking a cost-effective investment with strong growth potential.
• Ideal for Corporate Tenants: With its close proximity to major business districts, this building caters to the corporate market, attracting professional tenants who value convenience and accessibility. The area is highly desirable for both long-term residential and corporate rentals, ensuring a steady stream of potential clients.

Conclusion:

224-226 E 48th Street presents a rare and profitable opportunity for investors seeking a high-demand real estate asset in one of Manhattan’s most coveted neighborhoods. With its prime location, solid financial performance, and flexibility for corporate tenants, this property offers a strong foundation for long-term success. Don’t miss out on the chance to secure this high-potential investment in New York City’s thriving real estate market!