Multi-family

Introducing 131 E 29th Street, a highly attractive investment property located in the desirable Midtown South area of Manhattan. This 5,200-square-foot mid-rise apartment building is offered for sale at $4,350,000, equating to $1,087,500 per unit, with a cap rate of 6.33%.

Property Overview:

• Address: 131 E 29th Street, New York, NY 10016
• Sale Price: $4,350,000 ($1,087,500/Unit)
• Total Square Footage: 5,200 SF
• Property Type: 2 Star Mid-Rise Apartments
• Location: Midtown South, New York
• Units: 4
• Stories: 4
• Class C
• Cap Rate: 6.33%

Key Features:

• Prime Midtown South Location: Situated in one of Manhattan’s most in-demand areas, this property offers easy access to major business districts, transportation hubs, and vibrant neighborhood amenities. Midtown South is known for its blend of residential, commercial, and retail spaces, making it an attractive location for both renters and investors.
• Efficient and Spacious Layout: With four units spread over four stories, each typical floor offers 1,400 square feet of space. The units are well-sized, providing comfortable living spaces for tenants, and offering solid rental income potential.
• Strong Investment Potential: With a competitive cap rate of 6.33%, this property offers investors a strong return on investment in a growing and desirable market. The building is fully rented at market rates, ensuring a steady stream of income.
• High Demand Area: The continued development and popularity of Midtown South ensures that demand for residential units in this location remains high. Investors can expect strong tenant retention and ongoing rental demand.

Conclusion:

131 E 29th Street offers a compelling investment opportunity in a rapidly appreciating part of Manhattan. With its prime location, high cap rate, and well-maintained apartments, this property provides a steady income stream and potential for long-term growth. Don’t miss the chance to invest in one of New York City’s most sought-after neighborhoods!