309 E 69th & 316 E 83rd St Multi-Family FOR SALE


New York, NY - Lenox Hill
$13,500,000 USD
212-660-7706
, New York, NY for Sale
$13,500,000 USD
Multi-Family - FOR SALE
1/7
null | 5.35% Cap Rate

309 E 69th & 316 E 83rd St
New York, NY
Lenox Hill


HIGHLIGHTS

  • Two Upper East Side multifamily walk-up buildings comprising a combined 38 residential units in a premier Manhattan location.
  • Strong deregulated unit exposure, with approximately 75% free-market at 316 East 83rd Street and 72% free-market at 309 East 69th Street.
  • Immediate and long-term upside through mark-to-market opportunities as leases roll and units turn.
  • Recent capital improvements including boiler upgrades, renovated common areas, and enhanced rear-yard functionality.
  • Excellent transit access with both properties within a short walk of the Q subway line, providing efficient connectivity throughout Manhattan.
  • Opportunity to acquire critical mass in a low-vacancy, high-income neighborhood with enduring demand and proven rental growth.

OVERVIEW

Cushman & Wakefield is pleased to present the opportunity to acquire 309 East 69th Street and 316 East 83rd Street, two well-located multifamily walk-up buildings situated in the heart of Manhattan’s Upper East Side. Both properties offer investors a compelling combination of strong in-place cash flow and meaningful upside through future rent growth, driven by a high concentration of deregulated apartments. The buildings are positioned on quiet residential blocks between major avenues, benefiting from close proximity to the Q subway line, which provides direct access to Midtown and Downtown Manhattan. Recent capital improvements, including boiler upgrades and interior renovations, enhance operational efficiency while limiting near-term capital expenditures. With historically low neighborhood vacancy and strong tenant demand, the portfolio presents a stable, inflation-protected income stream. Collectively, these properties represent a rare opportunity to acquire scale in one of New York City’s most established and resilient residential submarkets.

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Bryan HurleyCushman & WakefieldMore Info
212-660-7706

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Bryan HurleyCushman & WakefieldMore Info
212-660-7706

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.