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Upper West Side Multifamily Portfolio

23 W 87th St, New York, NY 10024

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For Sale

$10,995,000

Three-building, twenty-nine unit multifamily portfolio on the Upper West Side.

Type:Multifamily

HighLights

Portfolio of 3 buildings totaling 29 units on the Upper West Side.
Significant long‑term upside potential through strategic rent optimization of below‑market units (nearly 90% free market).
Excellent location with robust public transportation, low vacancy, and persistent housing demand.
Stable in‑place income with potential for short‑term income growth and long‑term value appreciation.
Long‑term family ownership suggests consistent stewardship and operational stability.
Mix of unit types including one and two‑bedroom apartments and studios; all ground floor units have gardens.

We can help!

Listing Contact

John J. Stewart

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For Sale

$10,995,000

Three-building, twenty-nine unit multifamily portfolio on the Upper West Side.

Type:Multifamily

Added:: Apr 3, 2026
Days on Market:: 77
Last Refresh:: Apr 3 at 5:13 am

Property Features for 23 W 87th St

General Information

Standard status: Active
Property subtype: Multifamily

We can help!

Listing Contact

John J. Stewart

Listing agent John J. Stewart License #NY: 10311203263, NY: 10301205822

Listing office New York City Office

Listing date Apr 3, 2026

Source Marcusmillichap

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of New York City Office

HighLights

Portfolio of 3 buildings totaling 29 units on the Upper West Side.
Significant long‑term upside potential through strategic rent optimization of below‑market units (nearly 90% free market).
Excellent location with robust public transportation, low vacancy, and persistent housing demand.
Stable in‑place income with potential for short‑term income growth and long‑term value appreciation.
Long‑term family ownership suggests consistent stewardship and operational stability.
Mix of unit types including one and two‑bedroom apartments and studios; all ground floor units have gardens.

Overview

This offering features a three-building, twenty-nine unit multifamily portfolio located on the Upper West Side. The portfolio consists of properties at 282 West End Avenue, 23 West 87th Street, and 30 West 96th Street. The unit mix includes 24 one-bedroom apartments, four studios, and one two-bedroom unit. All ground floor units have gardens. Approximately 90 percent of the units are free market, with many priced below market, presenting an opportunity for rent optimization. The properties have been under long-term family ownership for decades, indicating consistent stewardship and operational stability. The location offers robust public transportation access, extremely low vacancy, and persistent housing demand, reducing transitional risk and enhancing the potential for income growth and long-term value appreciation. This represents an opportunity to acquire multiple assets in a supply-constrained market with stable in-place income and meaningful upside potential.

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: New York
County: New York
State: New York
Longitude: -73.9699338
Latitude: 40.7865574

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For sale
Apartment buildings
NY
New York
10024
23 W 87th St

What type of property is this?

Apartment building - Three-building, twenty-nine unit multifamily portfolio on the Upper West Side.

Where is this apartment building located?

The property is located at 23 W 87th St New York, NY.

What is the asking price?

The asking price for this property is $10,995,000.

What are key features of this property?

This property features: Portfolio of 3 buildings totaling 29 units on the Upper West Side.; Significant long‑term upside potential through strategic rent optimization of below‑market units (nearly 90% free market).; Excellent location with robust public transportation, low vacancy, and persistent housing demand.

23 W 87th St, New York, NY 10024

Three-building, twenty-nine unit multifamily portfolio on the Upper West Side.

Property Features for 23 W 87th St

General Information

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Second-Floor Professional Office

Medical/Dental Condo Ready

Manhattan Commercial Condo For Sale

Vacant First-Floor Retail Store

Established Medical-Dental Practice Condo

Chinatown Office Space Opportunity

Chinatown Office Space Opportunity

Detached Two-Family Home with Garage

Vacant Multi-Family Townhouse

Morningside Gold Coast Brownstone

Two-to-Four Unit Residential Property

Mixed-Use Building with Retail

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