Back to Search

Upper East Side Multifamily Building

407 E 77th St, New York, NY 10075

View on Map

For Sale

Contact for pricing

Five-story, 15-unit building with value-add potential in Manhattan.

Type:Multifamily

Property size:

10,280 SF

Price / SF:

$535/SF

HighLights

Prime Upper East Side location near transportation, retail, and dining
Significant upside potential through renovation and lease‑up of vacant units
11 Free Market units offering immediate cash flow
4‑5 Free Market units delivered vacant six months post‑closing
Ideal for various buyer types: 1031 exchange, long‑term holders, or owner‑users
Well‑maintained, low‑density walk‑up building

We can help!

Contact an agent

Mirza Avdovic

For Sale

Contact for pricing

Five-story, 15-unit building with value-add potential in Manhattan.

Type:Multifamily

Property size:

10,280 SF

Price / SF:

$535/SF

Added:: May 3, 2024
Days on Market:: 797
Last Refresh:: May 12 at 9:40 pm

Property Features for 407 E 77th St

General Information

Standard status: Active
Size: 10,280 SF
Property subtype: Multifamily

We can help!

Contact an agent

Mirza Avdovic

Listing office MIdtown - Keller Williams NYC

Listing date May 3, 2024

Source Crexi

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 MIdtown - Keller Williams NYC

HighLights

Prime Upper East Side location near transportation, retail, and dining
Significant upside potential through renovation and lease‑up of vacant units
11 Free Market units offering immediate cash flow
4‑5 Free Market units delivered vacant six months post‑closing
Ideal for various buyer types: 1031 exchange, long‑term holders, or owner‑users
Well‑maintained, low‑density walk‑up building

Overview

Located in Manhattan’s Upper East Side, the property at 407 East 77th Street is a 5-story multifamily rental building comprising 15 units. The well-maintained walk-up building includes 11 free market units, 3 rent stabilized units, and 1 rent controlled unit. Two owner-occupied units, along with three furnished rentals, will be delivered vacant six months post-closing. This creates a repositioning opportunity for new ownership to set market rents, renovate, or occupy. Positioned between 1st and York Avenues, the building benefits from proximity to the Q train, major bus lines, and the retail and dining options of the Upper East Side. The building offers flexibility for investors seeking cash flow, appreciation, or owner-user possibilities. The property is ideal for long-term holders or owner-users. The building size is 10,280 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$615.6k	$59.88
− Vacancy	−$30.8k	−$2.99
EGI	$584.8k	$56.89
− OpEx	−$263.2k	−$25.60
NOI	$321.6k	$31.29

10,280 SF · lease $59.88/SF/yr · vacancy 5.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$4.59M

$4.02M – $5.36M (±1% cap)

NOI $321,633 @ 7.0% cap · market cap 5.85%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$25.59M

$22.39M – $29.85M (±1% cap)

NOI $1,791,187 @ 7.0% cap · market cap 32.57%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Freddy Huevito Lobaton Music Venue

Suggested Use

Location Insight

Map
Local Demand

City: New York
County: New York
State: New York
Longitude: -73.9529316
Latitude: 40.7708356

Nearby Similar for Sale

$1,338,000

651 SF

Second-Floor Professional Office

A 2nd-floor professional office with added storage, currently set up as an accounting workspace inside an elevator building.

139 Centre Street, New York, NY 10013

View Details
$999,999

905 SF

Medical/Dental Condo Ready

Fully built-out medical/dental condo for sale in New York.

139 Centre Street, New York, NY 10013

View Details
$950,000

1,197 SF

Manhattan Commercial Condo For Sale

Prime commercial condo in Little Italy/Chinatown, move-in ready.

128 Mott Street, New York, NY 10013

View Details
$329,000

900 SF

Omakase Restaurant for Sale

Established Midtown omakase restaurant with a remaining term lease and seller-paid portion of property taxes.

121 Madison Avenue, New York, NY 10016

View Details
$1,800,000

8,010 SF

Vacant First-Floor Retail Store

First-floor retail store for sale with 9-ft ceilings, finish basement, and large backyard.

75 Allen Street, New York, NY 10002

View Details
$299,000

905 SF

Established Medical-Dental Practice Condo

Fully built-out medical-dental practice with established patient base.

139 Centre Street, New York, NY 10013

View Details
$4,500,000

6,000 SF

Four-Unit Mixed-Use Commercial Building

Four-story mixed-use building offering multiple commercial unit configurations in Manhattan’s Financial District.

22 Beaver St, New York, NY 10004

View Details
$429,000

437 SF

Chinatown Office Space Opportunity

Vacant 437 sq ft office space in vibrant Chinatown.

210 Canal Street, New York, NY 10013

View Details
$498,000

515 SF

Chinatown Office Space Opportunity

Vacant 515 sq ft office space in Chinatown.

210 Canal Street, New York, NY 10013

View Details
$7,250,000

4,500 SF

Mixed-Use Building with Retail

Three-story masonry building with a 15-foot-ceiling ground-floor storefront plus finished basement and upper commercial and residential units.

113 Ludlow St, New York, NY 10002

View Details
$999,987

4,875 SF

Six-Unit Multifamily Apartment Building

Three-story six-unit building with separate utilities and a full basement for added storage.

1434 Greene Ave, New York, NY 11237

View Details
$2,200,000

Vacant Multi-Family Townhouse

Delivered vacant multi-family townhouse near transit and major academic and medical institutions in Upper Manhattan.

596 W 152nd Street, New York, NY 10031

View Details

For sale
Apartment buildings
NY
New York
10075
407 E 77th St

What type of property is this?

Apartment building - Five-story, 15-unit building with value-add potential in Manhattan.

Where is this apartment building located?

The property is located at 407 E 77th St New York, NY.

What is the asking price?

The asking price for this property is $5,500,000.

What are key features of this property?

This property features: Prime Upper East Side location near transportation, retail, and dining; Significant upside potential through renovation and lease‑up of vacant units; 11 Free Market units offering immediate cash flow

407 E 77th St, New York, NY 10075

Five-story, 15-unit building with value-add potential in Manhattan.

Property Features for 407 E 77th St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Second-Floor Professional Office

Medical/Dental Condo Ready

Manhattan Commercial Condo For Sale

Omakase Restaurant for Sale

Vacant First-Floor Retail Store

Established Medical-Dental Practice Condo

Four-Unit Mixed-Use Commercial Building

Chinatown Office Space Opportunity

Chinatown Office Space Opportunity

Mixed-Use Building with Retail

Six-Unit Multifamily Apartment Building

Vacant Multi-Family Townhouse

FAQs