Multi-family

Presenting 332 E 71st Street, a 5-story mid-rise apartment building available for sale at $9,250,000 ($578,125 per unit). This investment property features 16 units, with a mix of market-rate and rent-controlled apartments. Located in the desirable Upper East Side, this property offers a strong opportunity for investors seeking a well-positioned asset in one of New York City’s most sought-after neighborhoods.

Property Overview:

• Address: 332 E 71st Street, New York, NY 10021
• Sale Price: $9,250,000 ($578,125/Unit)
• Units: 16
• Stories: 5
• Class: C
• Gross Building Area (GBA): 9,735 SF
• Typical Floor Size: 1,947 SF
• # of Buildings: 1
• Units per Acre: 278/AC
• Rent Type: Market / Affordable
• Affordable Type: Rent Controlled
• Location: Urban

Key Features:

• Prime Upper East Side Location: Situated in one of the most prestigious neighborhoods in Manhattan, 332 E 71st Street offers an exceptional location with easy access to parks, world-class shopping, fine dining, and excellent public transportation. The Upper East Side remains a top choice for residents seeking an upscale lifestyle in the heart of New York City.
• Diverse Unit Mix: The property features 16 units with an average unit size of 563 square feet, offering a mix of market-rate apartments and rent-controlled units. This mix provides steady rental income, with the potential for growth through market-rate leases while maintaining the security of rent-controlled units.
• Investment Potential: With its desirable location and mix of rental types, this property offers strong potential for stable, long-term returns. The rental demand in the area ensures steady occupancy rates, while the affordability component adds an additional layer of appeal to a wide range of tenants.
• Efficient Layout: The building offers a total of 9,735 square feet of gross building area, with typical floor sizes of approximately 1,947 square feet. The compact nature of the units and floors makes for easy management while still offering spacious accommodations for tenants.

Conclusion:

332 E 71st Street presents a unique investment opportunity with its blend of market-rate and rent-controlled apartments. Located in the highly desirable Upper East Side, this property provides both strong rental income potential and long-term value. Whether you’re seeking a stable investment or a high-quality addition to your portfolio, 332 E 71st Street is an excellent choice. Don’t miss out on the opportunity to acquire this prime asset in one of Manhattan’s most prestigious neighborhoods.