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40 E Broadway 3 Unit Apartment Building $6,750,000 ($2,250,000/Unit) 3.06% Cap Rate New York, NY 10002
Investment Highlights
- Located on the active East Broadway Corridor with strong visibility and high foot traffic.
- Secured by a long-term lease providing durable and predictable cash flow.
- Surrounded by dense residential and mixed-use development, ensuring a steady consumer base.
- 25 feet of prominent street frontage, offering excellent branding and signage opportunities.
- Recent capital improvements limit near-term maintenance and investment costs.
- Excellent access to New York's public transportation network, supporting sustained retail demand.
Executive Summary
Investment opportunity at 40 East Broadway offers a rare chance to acquire a stable income-producing asset along one of Manhattan’s most active and highly visible corridors. The property sits within the heart of the East Broadway Corridor, benefiting from constant pedestrian activity, strong retail demand, and significant exposure. Its wide storefront, measuring approximately 25 feet, provides superior branding opportunities and visibility for tenants.
The asset is secured by a long-term lease designed to deliver reliable, predictable cash flow with minimal near-term rollover risk. The absence of historical rent regulation enhances operational flexibility by allowing future rent adjustments in line with market conditions, supporting sustained income growth.
Recent major capital improvements have significantly reduced the likelihood of near-term property improvement requirements for incoming ownership, preserving investor returns and reducing exposure to unexpected expenditures. Proximity to extensive public transit systems adds further value, supporting sustained marketability and demand from retailers. Combining durable income, long-term growth potential, and minimal operational risk, this property caters to investors seeking a low-maintenance urban retail asset with resilient upside in an irreplaceable Manhattan location.
The asset is secured by a long-term lease designed to deliver reliable, predictable cash flow with minimal near-term rollover risk. The absence of historical rent regulation enhances operational flexibility by allowing future rent adjustments in line with market conditions, supporting sustained income growth.
Recent major capital improvements have significantly reduced the likelihood of near-term property improvement requirements for incoming ownership, preserving investor returns and reducing exposure to unexpected expenditures. Proximity to extensive public transit systems adds further value, supporting sustained marketability and demand from retailers. Combining durable income, long-term growth potential, and minimal operational risk, this property caters to investors seeking a low-maintenance urban retail asset with resilient upside in an irreplaceable Manhattan location.
Property Facts
| Price | $6,750,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $2,250,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 3.06% | Building Size | 10,044 SF |
| No. Units | 3 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | ||
| Zoning | C6-1G, New York - C6 districts permit a wide range of high-bulk commercial uses requiring a central location. | ||
| Price | $6,750,000 |
| Price Per Unit | $2,250,000 |
| Sale Type | Investment |
| Cap Rate | 3.06% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 10,044 SF |
| No. Stories | 5 |
| Year Built | 1900 |
| Zoning | C6-1G, New York - C6 districts permit a wide range of high-bulk commercial uses requiring a central location. |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 0281-0018 | Improvements Assessment | $646,200 |
| Land Assessment | $215,550 | Total Assessment | $861,750 |
Property Taxes
Parcel Number
0281-0018
Land Assessment
$215,550
Improvements Assessment
$646,200
Total Assessment
$861,750
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