608 East 9th Street — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: New York, NY 10009

Investment Figures

Cap rate
5.54%

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

608 East 9th Street (“Property”) is a six-story multifamily building located in Manhattan’s East Village. Built circa 1910, the Property contains twenty-four residential units totaling approximately 11,496 square feet. The six-story building measures 28 feet by 78 feet and sits on a 27.5’ x 93.92’ lot. The Property has twenty-four one-bedroom units of which sixteen are free-market and eight are rent stabilized. On the market for first time in twenty-five years, the Property offers investors stable multifamily scale in one of Manhattan’s most established rental neighborhoods. The Property presents an opportunity for continued income growth through active management and unit turnover. The Property is located between Avenues B and C in the East Village directly adjacent to Tompkins Square Park. The neighborhood offers strong retail and dining amenities and convenient access to public transportation including the L-train at 1st Avenue, the F-train at 2nd Avenue, and the 6-train at Astor Place. Investment Highlights: • 28-Foot-Wide Apartment Building in the East Village • 24 One-Bedroom Apartments with 67% Free-Market Units • Long-Term Family Ownership | First Time on the Market in 26 Years • Strong Location Between Avenues B & C | Adjacent to Tompkins Square Park • Irreplaceable Asset in a Supply-Constrained East Village Submarket

Market Context

This multifamily in New York, NY is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 101 days. Compare it against other multifamily listings for sale in New York, NY — view the full market.

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