377 Chauncey Street is a fully tenanted, six-unit residential walk-up in Stuyvesant
Heights — four free-market apartments over a favorable rent-stabilized base of two
units, generating $90,858 in current net operating income against a $1,900,000 ask.
All six apartments are configured as approximately 2.5-bedroom, one-bath railroad-style
layouts. The boiler was replaced in 2026, and the roof is reported to be approximately
ten years old, limiting near-term capital exposure for an incoming buyer.
Four of the six units are free market, and current rents on those units sit meaningfully
below projected market levels — identifying roughly $2,350 per month ($28,200
annually) of achievable upside at turnover or renewal, without touching the two DHCRregistered
stabilized units.
A verified same-block sale at 375 Chauncey Street (July 2023, $2,235,000 / $372,500
per unit) provides a direct, like-for-like benchmark for value, supported by additional
same-street trading activity.