Introducing 225 E 58th Street, a 5-story, 3-star mid-rise apartment building in the heart of Midtown East, offering 10 residential units. Priced at $11,800,000 ($1,180,000 per unit) with a cap rate of 3.61%, this property presents a strong opportunity for investors seeking stable cash flow and long-term appreciation in one of New York City’s most coveted neighborhoods.
Property Overview:
- Address: 225 E 58th Street, New York, NY 10022
- Sale Price: $11,800,000 ($1,180,000 per unit)
- Cap Rate: 3.61%
- Sale Type: Investment
- Property Type: 3-Star Mid-Rise Apartments
- Location: Midtown East (CBD)
- Units: 10
- Stories: 5
- Class: B
- Gross Building Area (GBA): 10,925 SF
- Typical Floor Size: 2,185 SF
- Number of Buildings: 1
- Units per Acre: 167/AC
- Rent Type: Market
- Affordable Type: Rent Stabilized
- Affordable Units: 3
- Market Segment: All
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Key Features:
- Prime Midtown East Location: This property is situated in one of Manhattan’s most desirable neighborhoods, Midtown East, offering access to major business districts, luxury residences, transportation hubs, and world-class dining and retail. The location attracts professionals, residents, and visitors, ensuring a steady demand for rental properties.
- Strong Rental Income Potential: With 10 residential units, including 3 rent-stabilized units, this property provides a balanced income stream. The 3.61% cap rate reflects a solid return on investment, while the market-rate units offer opportunities for continued rental income growth in a high-demand area.
- Spacious and Well-Maintained Asset: The property features a gross building area of 10,925 square feet, with typical floor sizes of 2,185 square feet per level. The building’s Class B rating indicates a well-maintained asset with room for long-term value appreciation in Midtown East’s competitive rental market.
- Affordable Housing Component: With 3 affordable rent-stabilized units, this property ensures a diverse tenant base, while offering the stability that comes with stabilized rents. The addition of affordable housing provides a unique aspect that enhances the property’s investment appeal.
- Investment Stability and Growth: The building’s combination of market and rent-stabilized units, along with its location in Midtown East, offers investors a strong balance of stable returns and potential for long-term capital appreciation. The property’s proximity to commercial centers, residential buildings, and transit options ensures a consistent demand for housing.
Conclusion:
225 E 58th Street presents an exceptional investment opportunity for buyers seeking a high-quality, income-generating asset in one of Manhattan’s most prestigious neighborhoods. With 10 units, including rent-stabilized apartments, strong rental demand, and a prime Midtown East location, this property offers the potential for both reliable income and long-term growth. Whether you are a seasoned investor or just entering the New York City market, this property is a valuable addition to any portfolio.
