46 W 87th St — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: New York, NY 10024

Investment Figures

Cap rate
5.29%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is the exclusive sales broker for 46 West 87th Street (the “Property”), a four-story plus basement apartment building on the Upper West Side. Built around 1910, the Property contains thirteen apartments totaling approximately 8,861 residential square feet. The building measures 23 feet by 86 feet and sits on a 23’ x 100.71’ lot within the Upper West Side/Central Park West Historic District. The Property's thirteen apartments are configured as studios, one-bedrooms and two-bedrooms of which twelve are free-market and one is rent stabilized. This unit mix offers investors stable cash-flow in one of the city’s strongest rental neighborhoods and presents the opportunity for short-term income growth through active management and unit turnover. Located between Central Park West and Columbus Avenue, the Property is a half-block from Central Park and in the center of the neighborhood’s extensive retail, dining, and cultural amenities. There is convenient access to public transportation including the B and C trains at 86th Street and the 1-train along Broadway. Investment Highlights: • 23-Foot-Wide Apartment Building on Upper West Side • 13 Apartments | 92% Free-Market • Upgraded Building Systems and Common Areas • Between Central Park West and Columbus Avenue

Market Context

This multifamily in New York, NY is listed for sale. It is offered at an approximate 5.3% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in New York, NY — view the full market.

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