221 Henry St
New York, NY 10002
Multifamily Property For Sale · 12 Units

East Coast New York Inc is pleased to present the sale of 221 Henry Street, a 6-story walk-up residential building comprising 12 fully rent-regulated units, one 1-bedroom/1-bath and eleven 2-bedroom/1-bath apartments, spanning approximately 11,232 SF, plus a commercial installation leased to AT&T.
The property generates current annual income of $319,490.76 with an NOI of $160,562.79, offering a new owner stable, in-place cash flow with immediate upside from two vacant units (83% occupied).
Ideally situated on the Lower East Side, the property sits just two blocks from the East Broadway subway station in one of Manhattan's most dynamic and rapidly evolving submarkets. Over the past decade, the neighborhood has transformed with major developments including The Rollins (231,686 SF mixed-use, 211 apartments, completed 2018), One Manhattan Square (815-unit condominium tower, completed 2019), and the Essex Crossing mega-development (1.6M SF of office, retail, and residential space). This continued investment has fueled rising demand for retail, dining, and cultural amenities throughout the Lower East Side and Chinatown.
Investment highlights include a boiler replaced in 2019, a recently replaced water tank, and long-term rent-regulated tenancy providing stable cash flow. This is a rare opportunity to acquire an income-producing asset in one of Manhattan's fastest-growing neighborhoods.