631 E Sixth St - Apartments FOR SALE


New York, NY 10009- Alphabet City
$12,500,000 USD
212-658-0979
631 E Sixth St, New York, NY for Sale
$12,500,000 USD
Apartments - FOR SALE
1/3
null | 5.6% Cap Rate

631 E Sixth St
New York, NY 10009
Alphabet City


HIGHLIGHTS

  • Turnkey Luxury Asset: A fully gut-renovated, 10-unit residential building featuring high-end, modern finishes throughout.
  • Tax Protection: Highly desirable Tax Class 2B designation, limiting annual assessment increases and stabilizing long-term tax exposure.
  • Immediate Cash Flow & Full Occupancy: 100% leased with first-month rent concessions already burned off, delivering stabilized, hassle-free revenue.
  • Modern Tenant Amenity Package: Outfitted with an on-site laundry facility, virtual doorman, and individual tenant-controlled HVAC units.
  • Low Owner Expenses: Separately metered utilities, with tenants paying all electricity, heating, and cooling costs directly.
  • Favorable Debt Financing: Includes an attractive assumable loan structure of $7.25M at a 6.48% interest-only rate.

OVERVIEW

631 E Sixth Street presents the opportunity to acquire a fully renovated multifamily asset in Manhattan's East Village neighborhood. The five-story, 10-unit property underwent a comprehensive renovation in 2023, creating a turnkey investment with modern residential finishes and updated building systems. The asset is fully occupied, providing immediate in-place cash flow from a stabilized tenant base. Positioned in the heart of Alphabet City, the property benefits from one of Manhattan's most established residential rental markets. Residents are within walking distance of Tompkins Square Park, neighborhood dining and retail destinations, major employment centers throughout Downtown Manhattan, and multiple public transportation options connecting tenants to the broader New York City metropolitan area. The East Village continues to attract a diverse renter demographic drawn to the area's cultural amenities, educational institutions, and proximity to major business districts. The building is designed to support efficient ownership and management, with separately metered utilities that transfer electricity, heating, and cooling expenses directly to tenants. Additional tenant amenities include an on-site laundry facility, virtual doorman service, and individual HVAC controls. The property's Tax Class 2B designation provides additional appeal through limitations on annual assessment increases, helping support long-term expense predictability. With a combination of recent capital improvements, stabilized occupancy, modern tenant amenities, and a sought-after Manhattan location, 631 E Sixth Street offers investors the opportunity to acquire a renovated multifamily asset with immediate income and long-term ownership potential in one of New York City's most recognized residential neighborhoods.

FOR SALE DETAILS

PRICE

$12,500,000 USD

PRICE/SF

$1,814 USD /SF

# OF UNITS

10

PRICE/UNIT

$1,250,000

CAP RATE

5.6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Prime East Village Multifamily -TurnKey

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,244 SF

ZONING

R8B

APN/PARCEL ID

0389-0045

ASK ABOUT THIS PROPERTY

Lev MavashevAlpha RealtyMore Info
212-658-0979

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Lev MavashevAlpha RealtyMore Info
212-658-0979

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