East Village Multifamily
For Sale
$7,000,000
608 E 9th St, New York, NY 10009
Six-story multifamily building in Manhattan's East Village.
Property Size11,496 SF
Lot Size0.06 Acres
Price / SF$608.91
Days on Market125
Property Features for 608 E 9th St
General Information
Standard status
Active
Size
11,496 SF
Lot size
0.06 Acres
Property subtype
Multifamily
Listing Agency:
Marcus & Millichap - Manhattan
(212) 430-5152
Listed By:
John J. Stewart · License #License(s): NY: 10311203263, NY: 10301205822
(212) 430-5152
Source:
Marcusmillichap
Added: Apr 3
Changed: Jul 10
Last Checked: Aug 4 at 2:53AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
The property is a six-story multifamily building located in Manhattan’s East Village. Constructed around 1910, the building contains twenty-four residential units, totaling approximately 11,496 square feet. The building's dimensions are 28 feet by 78 feet, situated on a 27.5’ x 93.92’ lot. The property features twenty-four one-bedroom units, with sixteen designated as free-market and eight as rent stabilized. The property is located between Avenues B and C, directly adjacent to Tompkins Square Park. The East Village neighborhood provides access to retail and dining options, as well as public transportation, including the L-train at 1st Avenue, the F-train at 2nd Avenue, and the 6-train at Astor Place. The property offers an opportunity for income growth through management and unit turnover.
Key Highlights
- Located in the East Village, adjacent to Tompkins Square Park, offering access to retail, dining, and transportation.
- Twenty‑four residential units in a six‑story multifamily building.
- Sixteen free‑market and eight rent‑stabilized units.
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 | $688.4k | $59.88 |
| − Vacancy | −$34.4k | −$2.99 |
| EGI | $654.0k | $56.89 |
| − OpEx | −$294.3k | −$25.60 |
| NOI | $359.7k | $31.29 |
11,496 SF · lease $59.88/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$5.14M
$4.50M – $5.99M
NOI $359,679 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$28.62M
$25.04M – $33.38M
NOI $2,003,063 @ 7.0% cap · market cap 28.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
14,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 10009, NY
61,716
Population
32,375
Households
1.9
Avg Household Size
36
Median Age
63%
College-Educated
87%
High-School Grad
0.6 sq mi
ZIP Area
102,860
Density / Sq Mi
$87,963
Median Household Income
$84,069
Median Earnings
$1,925
Median Rent
$690,600
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 - Six-story multifamily building in Manhattan's East Village.
Where is this apartment building located?
The property is located at 608 E 9th St New York, NY.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: Located in the East Village, adjacent to Tompkins Square Park, offering access to retail, dining, and transportation.; Twenty‑four residential units in a six‑story multifamily building.; Sixteen free‑market and eight rent‑stabilized units.
