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67 Pitt St
New York, NY 10002
Multifamily Property For Sale
·
20 Units
Investment Highlights
- A classic five-story Old Law Tenement (Building Class C4) constructed in 1920, offering vintage New York charm with enduring architectural character.
- Situated in the heart of the Lower East Side, known for its historic roots, vibrant culture, nightlife, shopping, and evolving residential landscape.
- Close proximity (0.22–0.45 miles) to major subway lines including F, J, M, Z, offering quick access to Manhattan and Brooklyn.
- The property contains 20 residential units across 5 floors, consistent with its classification as a walk-up apartment building.
- Boasts a Walk Score of 99 (Walker’s Paradise), Transit Score of 100 (Rider’s Paradise), and Bike Score of 97 (Biker’s Paradise).
- Within short walking distance to schools such as P.S. 140 Nathan Straus and P.S. 142 Amalia Castro, plus nearby parks, shops, and dining options.
Executive Summary
CBRE has been exclusively retained to arrange the sale of 67 Pitt Street (the “Property”), a five-story multifamily walk-up building located in Manhattan’s vibrant Lower East Side. The fully free-market asset features 20 well-maintained one-bedroom apartments and benefits from a prime position on Pitt Street, between Delancey and Rivington Streets, just a short walk from the Delancey–Essex Street subway station.
The 25-foot-wide building offers approximately 9,570 square feet of residential space and achieves an average rent of about $2,700 per unit. Its prime location and free-market status present investors with strong potential for rent growth without significant renovations.
The Lower East Side is a vibrant hub for students and young professionals, offering strong connectivity to major educational institutions like New York University and Pace University, as well as proximity to corporate headquarters in the Financial District and Midtown. These advantages reinforce submarket fundamentals, driving consistent demand and high occupancy levels.
Transportation access is a key advantage, with the Delancey-Essex Street station providing quick access to Midtown and popular Brooklyn neighborhoods like Williamsburg and Bushwick. The Property is also near the Williamsburg, Manhattan, and Brooklyn Bridges, ensuring convenient vehicular access to outer boroughs.
This offer presents a rare opportunity to acquire a well-maintained, cash-flowing multifamily asset in the Lower East Side. Featuring 20 free-market units with modern finishes and strong in-place income, the Property’s prime location near major transit and lifestyle amenities positions it for long-term appreciation and sustained rental demand.
The 25-foot-wide building offers approximately 9,570 square feet of residential space and achieves an average rent of about $2,700 per unit. Its prime location and free-market status present investors with strong potential for rent growth without significant renovations.
The Lower East Side is a vibrant hub for students and young professionals, offering strong connectivity to major educational institutions like New York University and Pace University, as well as proximity to corporate headquarters in the Financial District and Midtown. These advantages reinforce submarket fundamentals, driving consistent demand and high occupancy levels.
Transportation access is a key advantage, with the Delancey-Essex Street station providing quick access to Midtown and popular Brooklyn neighborhoods like Williamsburg and Bushwick. The Property is also near the Williamsburg, Manhattan, and Brooklyn Bridges, ensuring convenient vehicular access to outer boroughs.
This offer presents a rare opportunity to acquire a well-maintained, cash-flowing multifamily asset in the Lower East Side. Featuring 20 free-market units with modern finishes and strong in-place income, the Property’s prime location near major transit and lifestyle amenities positions it for long-term appreciation and sustained rental demand.
Property Facts
| Price Per Unit | $350,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.43% | Building Size | 11,890 SF |
| No. Units | 20 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1920 |
| Apartment Style | Mid-Rise | ||
| Zoning | R7-2, New York - High Density Residential | ||
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| Cap Rate | 6.43% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 11,890 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built | 1920 |
| Zoning | R7-2, New York - High Density Residential |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Maintenance on site
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 500 |
Property Taxes
| Parcel Number | 0343-0060 | Improvements Assessment | $492,750 |
| Land Assessment | $270,000 | Total Assessment | $762,750 |
Property Taxes
Parcel Number
0343-0060
Land Assessment
$270,000
Improvements Assessment
$492,750
Total Assessment
$762,750
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