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Multifamily

315 E 108th St

315 E 108th St, New York, NY 10029

Listing Price: $18,750,000

Cap Rate
5.90%
Number of Units
85
Price/Unit
$220,588
Price/Gross SF
$414.90
Gross SF
45,192

Investment Overview

NYM Team at Marcus & Millichap is pleased to offer the following opportunity: 315 & 321 East 108th Street. The properties are comprised of two contiguous buildings just north of Carnegie Hill. Each building sits on a 50 x 100 lot with 100' of frontage spanning a comines 45,192 SF and 83 residential units.

Investment Highlights

  • We are offering an opportunity to purchase two buildings that have been meticulously maintained since the current owner purchased them in 2004. There is zero deferred maintenance
  • Asking a 5.9% cap rate or 9.92X GRM allowing for a buyer to get 65%+ financing with the ability to build to a 6% cap rate simply with conservative rental increases
  • 64% or 53 of 83 apartments are statutorily free market, allowing a new owner to capitalize on upwards rental growth pressure

Exclusively Listed By

Multifamily

315 E 108th St

Listing Price: $18,750,000

Cap Rate
5.90%
Number of Units
85
Price/Unit
$220,588
Price/Gross SF
$414.90
Gross SF
45,192

Investment Highlights

  • We are offering an opportunity to purchase two buildings that have been meticulously maintained since the current owner purchased them in 2004. There is zero deferred maintenance
  • Asking a 5.9% cap rate or 9.92X GRM allowing for a buyer to get 65%+ financing with the ability to build to a 6% cap rate simply with conservative rental increases
  • 64% or 53 of 83 apartments are statutorily free market, allowing a new owner to capitalize on upwards rental growth pressure

Investment Overview

NYM Team at Marcus & Millichap is pleased to offer the following opportunity: 315 & 321 East 108th Street. The properties are comprised of two contiguous buildings just north of Carnegie Hill. Each building sits on a 50 x 100 lot with 100' of frontage spanning a comines 45,192 SF and 83 residential units.

Exclusively Listed By

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