Value-Add Multifamily Investment on the Lower East Side – 259 E Broadway
Address: 259 East Broadway, New York, NY, 10002
Asking Price: $8,750,000 ($437,500/Unit)
Cap Rate: 5.60%
Sale Type: Investment
Asset Type: 2-Star Mid-Rise Apartments
Location: CBD – Lower East Side
Units: 20
Stories: 6
Building Class: C
Gross Building Area (GBA): 12,075 SF
Typical Floor Size: 2,013 SF
# of Buildings: 1
Units per Acre: 398/AC
Rent Type: Market
Property Overview:
259 E Broadway presents a compelling opportunity to acquire a 20-unit multifamily asset in the heart of the Lower East Side, one of Manhattan’s most vibrant and evolving neighborhoods. With market-rate rents, an efficient layout, and solid in-place income, this 6-story building is ideal for value-add investors looking for immediate cash flow and long-term appreciation.
Read More
Investment Highlights:
✔ Desirable Downtown Location: Located in the cultural and commercial hub of the Lower East Side, surrounded by restaurants, galleries, nightlife, and new developments. Steps from Seward Park and Essex Market.
✔ Fully Market-Rate Units: No rent stabilization—offering full control over lease terms, turnover strategies, and rental growth.
✔ Efficient Asset Size: 20 units across 12,075 SF in a walk-up mid-rise building with manageable operational scale.
✔ Solid Cash Flow: Currently generating a 5.60% cap rate, with potential upside through renovations or unit reconfiguration.
✔ Strong Transit Access: Close to F, M, J, Z subway lines at Delancey–Essex, and within walking distance to East River ferry access and multiple bus routes.
Property Summary:
- Price: $8,750,000
- Units: 20
- Stories: 6
- GBA: 12,075 SF
- Typical Floor Size: 2,013 SF
- Building Class: C
- Rent Type: Market
- Cap Rate: 5.60%
Conclusion:
259 E Broadway is a rare, fully market-rate multifamily asset with strong income, excellent location, and future value-add potential in one of NYC’s hottest rental markets. Whether you’re expanding a portfolio or completing a 1031 exchange, this property offers stable cash flow and neighborhood growth.
Request the full Offering Memorandum and schedule a private tour today.
