Boutique Multifamily Investment – 146 East 89th Street
Address: 146 E 89th Street, New York, NY, 10128
Asking Price: $4,950,000
Price/Unit: $990,000
Sale Type: Investment
Property Type: 3-Star Townhome Apartments
Location: Urban – Upper East Side / Carnegie Hill
Gross Building Area (GBA): 5,483 SF
Units: 5
Stories: 5
Typical Floor Size: 1,097 SF
Class: C
Number of Buildings: 1
Units per Acre: 100/AC
Rent Type: Market
Market Segment: All
Investment Overview:
146 East 89th Street presents a rare opportunity to acquire a fully market-rate, 5-unit residential townhouse in the heart of the Upper East Side. Located on a quiet, tree-lined block between Lexington and Third Avenues, the property offers strong in-place cash flow and long-term value with minimal regulatory constraints.
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Property Highlights:
✔ Five-story townhome with a total of 5,483 SF and generous unit layouts
✔ All market-rate units—no rent stabilization or affordable housing requirements
✔ Boutique residential feel with high ceiling heights and large windows
✔ Potential for condo conversion, single-family use, or continued rental income
Location Benefits:
✔ Prime Carnegie Hill / Upper East Side location near 86th Street retail corridor
✔ Steps to Central Park, Museum Mile, and prestigious public and private schools
✔ Near 4, 5, 6 and Q subway lines at 86th Street for rapid access across Manhattan
✔ Surrounded by upscale dining, boutique retail, and cultural institutions
Highlights:
✔ $4,950,000 offering price with strong market-rate rents
✔ Efficient unit mix in one of Manhattan’s most stable and affluent neighborhoods
✔ Ideal for long-term hold, investor-user, or repositioning strategy
✔ Delivered with minimal deferred maintenance and low operational complexity
Conclusion:
146 East 89th Street is a prime, low-density multifamily investment in a high-barrier-to-entry neighborhood. With strong location fundamentals, fully deregulated units, and conversion potential, this is an excellent opportunity for investors seeking a flexible and high-value Manhattan asset.
Contact us today to request the rent roll, financials, and offering memorandum.
