11-Unit Manhattan Apartment
For Sale
$43,500,000
329-339 E 94th Street, New York, NY 10128
COMMERCIAL - Other - New York, NY
Property Size65,535 SF
Price / SF$663.77
Days on Market11
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
Bathroom 2, Bedroom 2, Bathroom 10, Bedroom 5, Bedroom 19, Bathroom 18, Bedroom 9, Bedroom 6, Bedroom 16, Bathroom 9, Bedroom 7, Bathroom 20, Bedroom 3, Bedroom 4, Bathroom 15, Bathroom 3, Bathroom 5, Bedroom 11, Bathroom 6, Bedroom 20, Bathroom 19, Bedroom 12, Bedroom 18, Bedroom 1, Bathroom 16, Bedroom 13, Bedroom 15, Bathroom 8, Bathroom 13, Bathroom 12, Bathroom 7, Bathroom 1, Bathroom 14, Bedroom 14, Bedroom 10, Bedroom 8, Bathroom 11, Bathroom 4, Bathroom 17, Bedroom 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
Added: Jul 20
Changed: Jul 30
Last Checked: Jul 30 at 8:06PM
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 offering is an 11-unit Manhattan apartment portfolio with a unit mix of 89 free-market apartments, 17 rent-stabilized units, and 5 rent-controlled units. The portfolio is expected to be delivered approximately 95% vacant, with only 9 regulated units currently occupied. Additional regulated units have been vacant for an extended period.
The seller notes the possibility that certain vacant regulated units may qualify for first rent treatment based on factors discussed with rent regulation counsel, including the property’s prior nonprofit/church use, 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 transaction also includes the opportunity to assume an existing loan of approximately $18 million at an indicated 5.0% interest rate, subject to lender approval and transaction terms.
The seller notes the possibility that certain vacant regulated units may qualify for first rent treatment based on factors discussed with rent regulation counsel, including the property’s prior nonprofit/church use, 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 transaction also includes the opportunity to assume an existing loan of approximately $18 million at an indicated 5.0% interest rate, subject to lender approval and transaction terms.
Key Highlights
- 11‑unit Manhattan value‑add portfolio with 89 free‑market units plus 17 rent‑stabilized and 5 rent‑controlled units.
- Delivered approximately 95% vacant: only 9 regulated units currently occupied; remaining regulated units vacant for an extended period.
- Projected stabilized value is approximately $65 million.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $3.92M | $59.88 |
| − Vacancy | −$204.1k | −$3.11 |
| EGI | $3.72M | $56.77 |
| − OpEx | −$1.67M | −$25.54 |
| NOI | $2.05M | $31.22 |
65,535 SF · lease $59.88/SF/yr · vacancy 5.20% · expense 45.00%
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
Property Profile
Current Use
Lease Details
11
Residential units
5%
Occupancy
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Value-add 11-unit portfolio with 89 free-market units and most units delivered vacant for re-tenanting.
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 plus 17 rent‑stabilized and 5 rent‑controlled units.; Delivered approximately 95% vacant: only 9 regulated units currently occupied; remaining regulated units vacant for an extended period.; Projected stabilized value is approximately $65 million.
