Multi-family

Investment Sale – 22-Unit Multifamily in Midtown West – 324 West 43rd Street

Address: 324 West 43rd Street, New York, NY, 10036
Asking Price: $4,000,000 ($181,818/unit)
Cap Rate: 5.05%
Sale Type: Investment Sale
Type: 2-Star Mid-Rise Multifamily
Location: Urban – Midtown West / Central Business District (CBD)
Units: 22
Stories: 5
Building Class: C
Gross Building Area (GBA): 23,000 SF
Typical Floor Plate: 1,899 SF
Average Unit Size: 709 SF
Building Height: 56 ft
Buildings: 1
Units per Acre: 38/AC
Rent Type: Market Rate
Market Segment: All

Property Overview:

324 West 43rd Street presents a prime multifamily investment opportunity in the heart of Midtown West—one of Manhattan’s most dynamic and high-demand neighborhoods. This 5-story, 22-unit mid-rise building offers solid in-place income with 100% market-rate units, a 5.05% cap rate, and a highly efficient building layout totaling 23,000 SF.

Situated just steps from Times Square, Hudson Yards, and the Port Authority, the property is ideally positioned for continued rental strength, transit accessibility, and long-term value preservation. With a manageable unit count, low basis per unit, and strong rental market fundamentals, this asset is well-suited for private investors and multifamily operators.

Investment Highlights:

✔ Asking Price: $4M or $181,818 per unit – well below replacement cost
✔ Stable Market-Rate Income: All 22 units leased at market rent with upside potential
✔ Attractive Cap Rate: 5.05% in a core Manhattan location
✔ Desirable Midtown Location: Near Times Square, Hudson Yards, Broadway theaters, and major transit hubs
✔ Efficient Asset Size: Average unit size of 709 SF; ideal for workforce housing or corporate rentals
✔ Strong Building Fundamentals: 5 stories, 56 ft tall, with 1,899 SF typical floorplates and 23,000 SF total GBA

Value Proposition:

✔ Core asset with below-market pricing on a per-unit and per-SF basis
✔ Potential to enhance rents and building value with minor capital upgrades
✔ High rental demand from entertainment workers, commuters, and professionals
✔ Located in an Opportunity Zone with potential tax advantages

Conclusion:

324 West 43rd Street offers a rare chance to acquire a stabilized, cash-flowing multifamily asset in one of Manhattan’s busiest corridors. With all market-rate units, proximity to global landmarks, and an attractive cap rate, this investment is ideal for owners seeking long-term appreciation with immediate returns.

Request the rent roll, financials, or schedule a property tour today.