Introducing 343 E 21st Street, a highly attractive investment opportunity located in one of Manhattan’s most desirable neighborhoods. This 2,628-square-foot mid-rise apartment building is offered for sale at $4,500,000, with a price of $900,000 per unit, providing a strong investment potential with a cap rate of 4.33%.
Property Overview:
- Address: 343 E 21st Street, New York, NY 10010
- Sale Price: $4,500,000 ($900,000/Unit)
- Total Square Footage: 2,628 SF
- Property Type: 2 Star Mid-Rise Apartments
- Location: Flatiron District, New York
- Units: 5
- Stories: 4
- Class C
- Cap Rate: 4.33%
Key Features:
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- Prime Flatiron District Location: Situated in the highly sought-after Flatiron District, this property benefits from proximity to iconic landmarks, top-tier dining, and convenient transportation. The neighborhood is a hub for professionals, residents, and tourists, ensuring consistent demand for rental units.
- Efficient and Spacious Apartments: With five well-sized units across four floors, the building offers a versatile layout. Each unit provides a comfortable living space, making it attractive to a variety of renters, from young professionals to families.
- Strong Rental Income Potential: The property is fully rented at market rates, providing a reliable income stream for investors. The flatiron area’s constant demand for residential properties ensures that this property will continue to generate a strong return on investment.
- High Demand for Rentals in the Area: The location, combined with the building’s small unit count, makes this property an ideal investment for those seeking consistent returns from a high-demand market.
- Ideal for Long-Term Investors: With a solid cap rate of 4.33%, 343 E 21st Street offers a compelling opportunity for long-term investors looking to take advantage of the ongoing rental demand in one of Manhattan’s most in-demand neighborhoods.
Conclusion:
343 E 21st Street represents an exceptional investment opportunity in the heart of the Flatiron District. With its prime location, consistent rental income, and solid cap rate, this property offers the perfect combination of stability and growth potential. Don’t miss the chance to secure this prime piece of real estate in one of New York City’s most vibrant areas.
