61 Sullivan St 4 Unit Apartment Building $9,500,000 ($2,375,000/Unit) 4.05% Cap Rate New York, NY 10012

Prime SoHo Multi-Family Investment Opportunity – Fully Renovated 5-Unit Building with Value-Add Potential
Located in the heart of SoHo, one of Manhattan’s most coveted and vibrant neighborhoods, this rare multi-family gem offers immediate rental income with significant upside potential. Comprised of five full-floor, gut-renovated apartments, this 5-story building is an exceptional opportunity for investors or end-users seeking strong returns in a prime downtown location.
Each of the spacious units has been thoughtfully renovated and features modern, high-end finishes including in-unit washer/dryers, dishwashers. Expansive layouts allow for easy conversion to 2-bedroom configurations, maximizing rental income potential. All apartments are individually metered and include dedicated hot water heaters and split system heating and cooling, offering long-term operational efficiency and tenant independence.
Key Investment Highlights:
Five full-floor, gut-renovated residential units
Washer/dryers, dishwashers, and split systems in each apartment
Flexible layouts – easily convertible to 2-bedroom units
Individually metered utilities and water heaters
Low operating expenses with Class 2B tax status (very low real estate taxes)
Development Potential:
First floor offers opportunity for rear extension and conversion to commercial use for added income
Additional Floor Area Ratio (FAR) available – potential to add two more stories with zoning approval
Excellent long-term growth and repositioning potential in one of NYC’s most desirable submarkets
This property presents a unique blend of stable, turnkey income with value-add and development upside — a true rare find in the heart of SoHo. Close to world-class shopping, dining, and major transportation hubs, this building is perfectly positioned for both strong cash flow and long-term appreciation.
Contact us today for full financials and to schedule a private tour.