11-Unit Multifamily Apartment
329-339 E 94th Street New York, NY 10128
New
329-339 E 94th Street, New York, NY, 10128
$43,500,000
For Sale
$43,500,000
COMMERCIAL - Other - New York, NY
Days on Market4
Property Features for 329-339 E 94th Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bedrooms
- 20
- Bathrooms
- 20
- Rooms
- Bathroom 20, Bedroom 11, Bedroom 3, Bedroom 19, Bathroom 6, Bathroom 14, Bedroom 18, Bedroom 2, Bathroom 15, Bedroom 1, Bathroom 4, Bedroom 8, Bathroom 17, Bedroom 13, Bathroom 1, Bathroom 18, Bathroom 9, Bedroom 16, Bathroom 5, Bathroom 13, Bedroom 12, Bedroom 10, Bedroom 17, Bathroom 8, Bathroom 3, Bathroom 10, Bathroom 12, Bedroom 7, Bedroom 20, Bathroom 2, Bathroom 19, Bedroom 15, Bedroom 9, Bathroom 7, Bedroom 14, Bathroom 11, Bedroom 6, Bedroom 4, Bathroom 16, Bedroom 5
- Standard status
- Active
Building Details
- Architectural style
- Other
Listing agency
Compass
(646) 982-0353
Listed by
Yoav Blat
Added: Jul 20 Updated: Jul 22 at 10:06AM Checked: Jul 23 at 6:06AM
MLS# 11896640
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Investment Insights
Based on property information with market context.
An 11-unit multifamily portfolio located at 329–339 E 94th Street in Manhattan, NY. The unit mix includes 89 free-market units, 17 rent-stabilized units, and 5 rent-controlled units. The portfolio will be delivered approximately 95% vacant, with only 9 regulated units currently occupied; the remaining regulated units have been vacant for an extended period.
Ownership, based on advice from rent regulation counsel, indicates that vacant regulated units may qualify for first rent treatment based on a combination of factors, including the property’s prior nonprofit/church use (with apartments reportedly occupied by the church rather than operated as traditional rental units), the extended vacancy period, and substantial capital improvements completed before re-occupancy. Purchasers should conduct their own legal and regulatory due diligence regarding these matters.
The offering provides an opportunity to assume an existing loan of approximately $18 million at a 5.0% interest rate. The projected stabilized value is approximately $65 million.
Ownership, based on advice from rent regulation counsel, indicates that vacant regulated units may qualify for first rent treatment based on a combination of factors, including the property’s prior nonprofit/church use (with apartments reportedly occupied by the church rather than operated as traditional rental units), the extended vacancy period, and substantial capital improvements completed before re-occupancy. Purchasers should conduct their own legal and regulatory due diligence regarding these matters.
The offering provides an opportunity to assume an existing loan of approximately $18 million at a 5.0% interest rate. The projected stabilized value is approximately $65 million.
Key Highlights
- 11‑unit Manhattan value‑add portfolio with 89 free market units, 17 rent‑stabilized units, and 5 rent‑controlled units
- Approx. 95% delivered vacant; only 9 regulated units currently occupied, with remaining regulated units vacant for an extended period
- Opportunity to assume an existing loan of approx. $18 million at a 5.0% interest rate
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Manhattan 11-unit portfolio with 89 free-market units and limited rent-regulated occupancy, delivered approximately 95% vacant.
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: 11‑unit Manhattan value‑add portfolio with 89 free market units, 17 rent‑stabilized units, and 5 rent‑controlled units; Approx. 95% delivered vacant; only 9 regulated units currently occupied, with remaining regulated units vacant for an extended period; Opportunity to assume an existing loan of approx. $18 million at a 5.0% interest rate
