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The Granite East Village Portfolio 4 Multifamily Properties Offered at $42,000,000 in New York, NY
INVESTMENT HIGHLIGHTS
- Long term ownership
- Opportunity to acquire 117 units in highly desirable neighborhoods of New York City
- Transit oriented
- 4 Properties spanning ±71,145 square feet
- High Occupancy Levels - 94% Occupied
- Prime East Village and Lower East Side Locations
EXECUTIVE SUMMARY
Cushman & Wakefield has been exclusively retained to arrange the sale of The Granite East Village Portfolio, a rare collection of three properties located across the East Village and Lower East Side of Manhattan. The offering is comprised of 117 units which span approximately 71,145 square feet (above grade).
The residential mix includes 30 free-market units (26%), 80 rent-stabilized units (70%), and 4 rent-controlled units (4%), with the portfolio currently 94% occupied. There are 3 commercial spaces which are all currently occupied.
This offering presents an opportunity to acquire exceptionally well-managed buildings with strong occupancy across some of New York City’s most desirable neighborhoods. Each asset benefits from proximity to major transportation and provides buyers with immediate, portfolio-wide diversification across multiple submarkets, unit types, and rent regulatory profiles.
The East Village remains one of Manhattan’s most iconic and culturally rich neighborhoods, known for its eclectic character, historic architecture, and vibrant dining and nightlife scene. The area continues to attract a diverse tenant base, ranging from young professionals and students to long-term residents, driven by its walkability, strong amenity base, and connectivity to nearby transit. Demand for well-located, quality housing in the East Village consistently outpaces supply, underpinning stable occupancy and long-term rent growth.
The residential mix includes 30 free-market units (26%), 80 rent-stabilized units (70%), and 4 rent-controlled units (4%), with the portfolio currently 94% occupied. There are 3 commercial spaces which are all currently occupied.
This offering presents an opportunity to acquire exceptionally well-managed buildings with strong occupancy across some of New York City’s most desirable neighborhoods. Each asset benefits from proximity to major transportation and provides buyers with immediate, portfolio-wide diversification across multiple submarkets, unit types, and rent regulatory profiles.
The East Village remains one of Manhattan’s most iconic and culturally rich neighborhoods, known for its eclectic character, historic architecture, and vibrant dining and nightlife scene. The area continues to attract a diverse tenant base, ranging from young professionals and students to long-term residents, driven by its walkability, strong amenity base, and connectivity to nearby transit. Demand for well-located, quality housing in the East Village consistently outpaces supply, underpinning stable occupancy and long-term rent growth.
PROPERTY FACTS
| Price | $42,000,000 | Number of Properties | 4 |
| Price / SF | $574.78 / SF | Individually For Sale | 0 |
| Cap Rate | 7.10% | Total Building Size | 73,072 SF |
| Sale Type | Investment | Total Land Area | 0.31 AC |
| Status | Active |
| Price | $42,000,000 |
| Price / SF | $574.78 / SF |
| Cap Rate | 7.10% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 73,072 SF |
| Total Land Area | 0.31 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 21 First Ave, New York, NY 10003 | Multifamily | 27,790 SF | 1910 | - |
| 184 Norfolk St, New York, NY 10002 | Multifamily | 22,614 SF | 1900 | - |
| 156 E Second St, New York, NY 10009 | Multifamily | 14,100 SF | 1919 | - |
| 188 Norfolk St, New York, NY 10002 | Multifamily | 8,568 SF | 1900 | - |
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CONTACTS
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Bobby Carrozzo -
Michael DeCheser -
Michael Gembecki -
Evan Lush -
Cushman & Wakefield
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The Granite East Village Portfolio
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