Multifamily Apartment
For Sale
Contact for pricing
Pending
338 E 53rd St, New York, NY 10022
Portfolio includes 60 units across three Manhattan multifamily buildings with a mix of free-market, rent-stabilized, and rent-controlled units.
Property SizeContact for details
Days on Market143
Property Features for 338 E 53rd St
General Information
Standard status
Pending
Property subtype
Multifamily
Additional Details
Multifamily Units
60
Building Details
Tenancy
Multi
Listing Agency:
Matthews
Listed By:
Clint Olsen · License #NY 10301212298
Source:
Crexi
Added: Apr 11
Changed: Aug 21
Last Checked: Aug 30 at 4:21PM
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 Matthews
Investment Insights
Based on property information with market context.
This sale offering presents the Upper East Portfolio, consisting of 60 units across three multifamily buildings. The portfolio includes one 40' wide elevator building and two 25' wide walk-up buildings. Each building contains 20 units, totaling 60 units with 46 free market units, 12 rent-stabilized units, and 2 rent-controlled units.
The units are configured as studios (29), one-bedrooms (16), and two-bedrooms (15), with only one of the units currently rented as a two-bedroom. Collectively, the three buildings generate approximately $1,467,000 in actual gross annual revenue, and the properties have been owned and managed by the same family for a combined period of over 180 years.
The buildings are described as well-maintained and located within the Turtle Bay, Lenox Hill, and Carnegie Hill sub-markets of Manhattan. New ownership is expected to have opportunities to increase rents through renovations and reconfiguring units, as well as recapturing basement space and utilizing additional air rights, based on the offering materials.
The units are configured as studios (29), one-bedrooms (16), and two-bedrooms (15), with only one of the units currently rented as a two-bedroom. Collectively, the three buildings generate approximately $1,467,000 in actual gross annual revenue, and the properties have been owned and managed by the same family for a combined period of over 180 years.
The buildings are described as well-maintained and located within the Turtle Bay, Lenox Hill, and Carnegie Hill sub-markets of Manhattan. New ownership is expected to have opportunities to increase rents through renovations and reconfiguring units, as well as recapturing basement space and utilizing additional air rights, based on the offering materials.
Key Highlights
- 60‑unit Manhattan multifamily portfolio across three buildings in Turtle Bay, Lenox Hill, and Carnegie Hill
- Properties at 338 E 53rd St, 430 E 66th St, and 118 E 91st St
- Unit mix: 29 studios, 16 1‑bedroom, and 15 2‑bedrooms; only one unit is currently rented as a 2‑bedroom
Property Analytics
Property Profile
Current Use
Lease Details
60
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
45,181
Businesses Nearby
Explore this area
Business Placement
Demographics for 10022, NY
36,708
Population
25,686
Households
1.4
Avg Household Size
45
Median Age
84%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
91,770
Density / Sq Mi
$171,038
Median Household Income
$119,657
Median Earnings
$2,928
Median Rent
$1,116,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Portfolio includes 60 units across three Manhattan multifamily buildings with a mix of free-market, rent-stabilized, and rent-controlled units.
Where is this apartment building located?
The property is located at 338 E 53rd St New York, NY.
What are key features of this property?
This property features: 60‑unit Manhattan multifamily portfolio across three buildings in Turtle Bay, Lenox Hill, and Carnegie Hill; Properties at 338 E 53rd St, 430 E 66th St, and 118 E 91st St; Unit mix: 29 studios, 16 1‑bedroom, and 15 2‑bedrooms; only one unit is currently rented as a 2‑bedroom
