20-Unit Multifamily
For Sale
Contact for pricing
Pending
518 East 83rd Street, New York, NY 10028
Predominantly free-market apartments near the Q train and Carl Schurz Park.
Property Size8,120 SF
Days on Market190
Property Features for 518 East 83rd Street
General Information
Standard status
Pending
Size
8,120 SF
Property subtype
Multifamily
Investment Type
Value Add
Building Details
Units
20
Tenancy
Multi
Listing Agency:
Alpha Realty NY
Listed By:
Lev Mavashev · License #NY 10351208812
Source:
Crexi
Added: Apr 13
Changed: Oct 8
Last Checked: Oct 19 at 3:16AM
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 Alpha Realty NY
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Investment Insights
Based on property information with market context.
This 20-unit multifamily property is located at 518 E 83rd St in Manhattan’s Upper East Side. The building includes a predominantly free-market apartment mix, providing an established residential income configuration in a well-known Manhattan neighborhood.
The property is positioned near the Q train and Carl Schurz Park. Weill Cornell, NY Presbyterian, and the Hospital for Special Surgery are also identified among the nearby major institutions. The surrounding setting includes a tree-lined residential block on the Upper East Side.
The property is positioned near the Q train and Carl Schurz Park. Weill Cornell, NY Presbyterian, and the Hospital for Special Surgery are also identified among the nearby major institutions. The surrounding setting includes a tree-lined residential block on the Upper East Side.
Key Highlights
- 20‑unit multifamily building
- Predominantly free‑market apartment mix
- Located at 518 E 83rd St, New York, NY 10028
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$254,053
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,081,060
$5.1M
Cap Rate 7%
$3,629,329
$3.6M
Cap Rate 9%
$2,822,811
$2.8M
Market Conditions
NOI Build-Up for 8,120 SF
Gross rent
$486.2K $59.88/SF
− Vacancy
−$24.3K −$2.99/SF
EGI
$461.9K $56.89/SF
− OpEx
−$207.9K −$25.60/SF
NOI
$254.1K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,081,060
Cap Rate 7%
$3,629,329
Cap Rate 9%
$2,822,811
Alternative Uses
Best Use
Apartment 5plus
$3.63M
$3.18M – $4.23M
NOI $254,053 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$20.21M
$17.69M – $23.58M
NOI $1,414,829 @ 7.0% cap · market cap 16.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
17,418
Businesses Nearby
Explore this area
Business Placement
Demographics for 10028, NY
48,116
Population
29,535
Households
1.6
Avg Household Size
39
Median Age
83%
College-Educated
98%
High-School Grad
0.3 sq mi
ZIP Area
160,387
Density / Sq Mi
$168,125
Median Household Income
$116,860
Median Earnings
$2,702
Median Rent
$1,600,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Predominantly free-market apartments near the Q train and Carl Schurz Park.
Where is this apartment building located?
The property is located at 518 East 83rd Street New York, NY.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: 20‑unit multifamily building; Predominantly free‑market apartment mix; Located at 518 E 83rd St, New York, NY 10028
