111-Unit Apartment
For Sale
$43,500,000
329-339 E 94th Street, New York, NY 10128
Commercial Sale, New York, NY
Property Size65,535 SF
Price / SF$663.77
Days on Market61
Property Features for 329-339 E 94th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
20
Bathrooms
20
Full bathrooms
20
Rooms
Bedroom 17, Bathroom 4, Bathroom 14, Bathroom 2, Bathroom 7, Bedroom 13, Bathroom 1, Bedroom 7, Bedroom 6, Bathroom 8, Bathroom 11, Bedroom 14, Bathroom 6, Bedroom 15, Bedroom 16, Bedroom 5, Bedroom 3, Bathroom 10, Bedroom 9, Bathroom 20, Bathroom 16, Bedroom 10, Bathroom 3, Bedroom 11, Bedroom 19, Bedroom 4, Bedroom 12, Bathroom 18, Bedroom 2, Bathroom 5, Bathroom 13, Bedroom 18, Bathroom 9, Bedroom 1, Bathroom 15, Bedroom 20, Bathroom 12, Bathroom 19, Bedroom 8, Bathroom 17
Subdivision
Upper East Side
High school district
000000
Standard status
Active
Size
65,535 SF
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Yoav Blat · License #10401398848
(212) 913-9058
Added: Jul 20
Changed: Sep 14
Last Checked: Sep 18 at 5:06AM
MLS# 11896640
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily portfolio comprises 111 apartments across approximately 65,535 square feet. The unit composition includes 89 free-market apartments, 17 rent-stabilized apartments, and 5 rent-controlled apartments. Delivery is expected to be approximately 95% vacant, with 9 regulated apartments currently occupied and the balance of regulated units vacant for an extended period.
The property is located at 329-339 E 94th Street in Manhattan, New York, NY 10128. Ownership has indicated that certain vacant regulated apartments may warrant further review regarding first-rent treatment, citing prior nonprofit or church use, extended vacancy, and capital improvements completed before re-occupancy. Purchasers should independently evaluate applicable legal and regulatory considerations as part of their due diligence.
The property is located at 329-339 E 94th Street in Manhattan, New York, NY 10128. Ownership has indicated that certain vacant regulated apartments may warrant further review regarding first-rent treatment, citing prior nonprofit or church use, extended vacancy, and capital improvements completed before re-occupancy. Purchasers should independently evaluate applicable legal and regulatory considerations as part of their due diligence.
Key Highlights
- 111 apartments across approximately 65,535 square feet
- Unit mix includes 89 free‑market, 17 rent‑stabilized, and 5 rent‑controlled apartments
- Expected delivery is approximately 95% vacant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$2,046,097
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$40,921,940
$40.9M
Cap Rate 7%
$29,229,957
$29.2M
Cap Rate 9%
$22,734,411
$22.7M
Market Conditions
NOI Build-Up for 65,535 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$3.92M $59.88/SF
− Vacancy
−$204.1K −$3.11/SF
EGI
$3.72M $56.77/SF
− OpEx
−$1.67M −$25.54/SF
NOI
$2.05M $31.22/SF
Area
ZIP 10128
Vacancy
5.20%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$40,921,940
Cap Rate 7%
$29,229,957
Cap Rate 9%
$22,734,411
Alternative Uses
Best Use
Apartment 5plus
$29.23M
$25.58M – $34.10M
NOI $2,046,097 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$46.60M
$40.77M – $54.36M
NOI $3,261,705 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
111
Residential units
Location Intelligence
Trade Area within ½ mile
15,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 10128, NY
64,249
Population
35,940
Households
1.8
Avg Household Size
38
Median Age
77%
College-Educated
96%
High-School Grad
0.5 sq mi
ZIP Area
128,498
Density / Sq Mi
$148,705
Median Household Income
$103,078
Median Earnings
$2,648
Median Rent
$1,295,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily portfolio with free-market and regulated apartments, offered with approximately 95% vacancy at delivery.
Where is this apartment building located?
The property is located at 329-339 E 94th Street New York, NY.
What is the asking price?
The asking price for this property is $43,500,000.
What are key features of this property?
This property features: 111 apartments across approximately 65,535 square feet; Unit mix includes 89 free‑market, 17 rent‑stabilized, and 5 rent‑controlled apartments; Expected delivery is approximately 95% vacant
