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347 E 19th St 3 Unit Apartment Building $4,475,000 ($1,491,667/Unit) 5.25% Cap Rate New York, NY 10003
Investment Highlights
- Max buildable area of 5,520 square feet (subject to D.O.B. approval)
- Located Outside the Gramercy Historic District
- Low Annual Taxes
Executive Summary
Located in a prime Gramercy Park location, just moments from Union Square, Stuyvesant Square Park, and Irving Place, 347 East 19th Street is a 20'-wide, four-story townhouse offering scale, flexibility, and timeless character. Residents will enjoy close proximity to some of the city's best restaurants, shops, and convenient transportation options.
Currently configured as a spacious garden duplex plus two upgraded free-market floor-through residences, the home spans over 4,000 interior square feet, with an additional 865 square feet of outdoor space and another 471 square feet in the full-height cellar with shared laundry. The garden duplex offers 3/4 bedrooms, 2 bathrooms, soaring parlor ceilings, an original marble mantle and a private rear garden, while the upper floors each feature bright 3-bedroom layouts with updated kitchens and dual north/south exposures. With low taxes, a max buildable area of 5,520 square feet (subject to D.O.B. approval), and a location outside a historic district, this property presents a rare opportunity for an end-user, investor, or conversion to a single-family residence.
Currently configured as a spacious garden duplex plus two upgraded free-market floor-through residences, the home spans over 4,000 interior square feet, with an additional 865 square feet of outdoor space and another 471 square feet in the full-height cellar with shared laundry. The garden duplex offers 3/4 bedrooms, 2 bathrooms, soaring parlor ceilings, an original marble mantle and a private rear garden, while the upper floors each feature bright 3-bedroom layouts with updated kitchens and dual north/south exposures. With low taxes, a max buildable area of 5,520 square feet (subject to D.O.B. approval), and a location outside a historic district, this property presents a rare opportunity for an end-user, investor, or conversion to a single-family residence.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$298,454
|
$74.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$298,454
|
$74.61
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$62,984
|
$15.75
|
| Net Operating Income |
$235,470
|
$58.87
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $298,454 |
| Annual Per SF | $74.61 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $298,454 |
| Annual Per SF | $74.61 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $62,984 |
| Annual Per SF | $15.75 |
| Net Operating Income | |
|---|---|
| Annual | $235,470 |
| Annual Per SF | $58.87 |
Property Facts
| Price | $4,475,000 | Apartment Style | Townhome |
| Price Per Unit | $1,491,667 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 5.25% | Building Size | 4,000 SF |
| No. Units | 3 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | R7B | ||
| Price | $4,475,000 |
| Price Per Unit | $1,491,667 |
| Sale Type | Investment |
| Cap Rate | 5.25% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.04 AC |
| Building Size | 4,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1910 |
| Zoning | R7B |
Amenities
Unit Amenities
- Kitchen
- Tub/Shower
Site Amenities
- Laundry Facilities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 10+4 | 3 | - | - |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Property Taxes
| Parcel Number | 0925-0027 | Improvements Assessment | $76,615 |
| Land Assessment | $104,214 | Total Assessment | $180,829 |
Property Taxes
Parcel Number
0925-0027
Land Assessment
$104,214
Improvements Assessment
$76,615
Total Assessment
$180,829
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347 E 19th St
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