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Multifamily

9 Post Ave

9 Post Ave, New York, NY 10034

Listing Price: $5,950,000

Cap Rate
5.40%
Number of Units
49
Price/Unit
$121,429
Price/Gross SF
$141.45
Gross SF
42,064

Investment Overview

The NYM Team at Marcus & Millichap is pleased to offer the following opportunity in Upper Manhattan. 9-15 Post Avenue is situated in the submarket of Fort George, between Dyckman & Academy Street, right off of Nagle Avenue. 9-15 Post Avenue is a meticulously maintained, 49 unit, 5-story walk-up composed of 18 one-bedroom, 24 two-bedroom & 6 three-bedroom apartments. Being steps away from the Dyckman street 1 & A subway stations, this well-located property offers a fantastic opportunity for investors to acquire a low basis asset in a very sought-after neighborhood of Upper Manhattan. 

Investment Highlights

  • The Opportunity: 49-Unit corner walkup building built in 1920 right off the main Inwood retail corridor for $141 per square foot – well below replacement cost.
  • Value Add: The average stabilized rent in the building is $1,125 per month in a market that commands rents in excess of $2,700.
  • Unit Composition & Stabilization: 100% Rent Stabilized with a strong unit diversification composed of 18 one-bedrooms, 24 two-bedrooms & 6 three-bedroom apartments.

Exclusively Listed By

Financing By

Multifamily

9 Post Ave

Listing Price: $5,950,000

Cap Rate
5.40%
Number of Units
49
Price/Unit
$121,429
Price/Gross SF
$141.45
Gross SF
42,064

Investment Highlights

  • The Opportunity: 49-Unit corner walkup building built in 1920 right off the main Inwood retail corridor for $141 per square foot – well below replacement cost.
  • Value Add: The average stabilized rent in the building is $1,125 per month in a market that commands rents in excess of $2,700.
  • Unit Composition & Stabilization: 100% Rent Stabilized with a strong unit diversification composed of 18 one-bedrooms, 24 two-bedrooms & 6 three-bedroom apartments.

Investment Overview

The NYM Team at Marcus & Millichap is pleased to offer the following opportunity in Upper Manhattan. 9-15 Post Avenue is situated in the submarket of Fort George, between Dyckman & Academy Street, right off of Nagle Avenue. 9-15 Post Avenue is a meticulously maintained, 49 unit, 5-story walk-up composed of 18 one-bedroom, 24 two-bedroom & 6 three-bedroom apartments. Being steps away from the Dyckman street 1 & A subway stations, this well-located property offers a fantastic opportunity for investors to acquire a low basis asset in a very sought-after neighborhood of Upper Manhattan. 

Exclusively Listed By

Financing By

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