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11 E 78th St 16 Unit Apartment Building $10,499,000 ($656,188/Unit) 4.07% Cap Rate New York, NY 10075
INVESTMENT HIGHLIGHTS
- 81% of units are free market, offering significant potential for rent increases.
- Upper East Side real estate has historically shown strong appreciation over time.
- Within walking distance to multiple subway lines, including the 4, 5, 6, and Q trains and the M79 bus.
- A three bedroom penthouse is available for personal occupancy by the future owner. This offers the potential for luxury living while generating income
- The property is located steps from Central Park, as well as popular hotels such as The Mark, The Surrey and The Carlyle.
EXECUTIVE SUMMARY
BKREA has been retained on an exclusive basis to arrange for the sale of 11 East 78th Street (“The Property”), a 25’ wide, 6-story elevator building with approximately 11,750 gross square feet. The Property features 16 residential units, including a mix of 1 three bedroom apartment, 8 one-bedroom apartments, and 7 studio apartments. 81% of the units are Free Market with 3 rent stabilized units, offering a compelling opportunity to increase revenue as market rents continue to rise.
Ideally situated on the north side of East 78th Street, between Fifth Avenue and Madison Avenue, super close to Central Park and The Metropolitan Museum of Art, making it an attractive location for residents. Ideal for a user buyer interested in occupying the three bedroom penthouse, which features its own washer-dryer and a private outdoor space.
Ideally situated on the north side of East 78th Street, between Fifth Avenue and Madison Avenue, super close to Central Park and The Metropolitan Museum of Art, making it an attractive location for residents. Ideal for a user buyer interested in occupying the three bedroom penthouse, which features its own washer-dryer and a private outdoor space.
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | - | 502 - 614 |
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 1393-0012 | Improvements Assessment | $1,216,980 |
| Land Assessment | $218,700 | Total Assessment | $1,435,680 |
PROPERTY TAXES
Parcel Number
1393-0012
Land Assessment
$218,700
Improvements Assessment
$1,216,980
Total Assessment
$1,435,680
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11 E 78th St
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