East Village Multifamily
608 E 9th St, New York, NY 10009
For Sale
$6,650,000
Six-story multifamily building in Manhattan's East Village.
Property Size11,496 SF
Lot Size0.06 Acres
Price / SF$578.46
Days on Market221
Property Features for 608 E 9th St
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Site & Location
Neighborhood
Amenities
28-Foot-Wide Apartment Building in the East Village
24 One-Bedroom Apartments with 67% Free-Market Units
Long-Term Family Ownership | First Time on the Market in 26 Years
Strong Location Between Avenues B & C | Adjacent to Tompkins Square Park
Irreplaceable Asset in a Supply-Constrained East Village Submarket
Building Details
Building Size
Units
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
John Stewart · License #License(s): NY: 10311203263, NY: 10301205822
(212) 430-5152
Source:
Marcusmillichap
Added: Apr 3
Changed: Nov 1
Last Checked: Nov 8 at 2:16AM
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 Marcus & Millichap - Manhattan
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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
Estimated NOI and Cap Rate
NOI / Yr
$359,679
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,193,580
$7.2M
Cap Rate 7%
$5,138,271
$5.1M
Cap Rate 9%
$3,996,433
$4.0M
Market Conditions
NOI Build-Up for 11,496 SF
Gross rent
$688.4K $59.88/SF
− Vacancy
−$34.4K −$2.99/SF
EGI
$654.0K $56.89/SF
− OpEx
−$294.3K −$25.60/SF
NOI
$359.7K $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%
$7,193,580
Cap Rate 7%
$5,138,271
Cap Rate 9%
$3,996,433
Alternative Uses
Best Use
Apartment 5plus
$5.14M
$4.50M – $5.99M
NOI $359,679 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.04M
$7.03M – $9.38M
NOI $562,597 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Apartment buildings in New York
Vacancy Rate% for Multifamily in Northeast region
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 $6,650,000.
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.
