MultiFamily Property at 1667 York Avenue by New York Multifamily Team

The New York Multifamily team is pleased to exclusively offer for sale 1667 York Avenue, located in the Yorkville neighborhood. Located between 87th and 88th street, this 8-unit Mixed-use property is comprised of approximately 7,905 square feet with 25’ of frontage. This property sits on a 25’x 76’ lot (Block: 1567 and Lot: 26). The property is zoned R10 and has an additional 11,473 BSF.

THE OPPORTUNITY

• Building Overview: This five-story multifamily building features 25’ feet of frontage along York Avenue and contains 8 residential apartments. Of the 8 units, 6 are free market and 2 are rent-stabilized. The unit mix is composed of all one Bedroom Apartments.

• Strong In-Place Retail: The retail component consists of two well-established tenants that provide stable and reliable long-term income. The north space is occupied by Sunita Nails, a highly regarded neighborhood salon that has operated for the past eight years, offering strong credit and proven tenancy. The south space is leased to Salon Stanley, which has been in operation since 2024 and continues to draw steady neighborhood demand, contributing complementary foot traffic and enhancing the overall stability of the retail mix.

• Rent growth opportunity: This property features six free market units, all leased at below market rents, providing investors with immediate upside potential. Comparable one bedrooms in the neighborhood are achieving approximately $3,500 per month, which indicates that current rents are roughly 20 percent below market and positions a buyer to unlock substantial near-term value.

• Desirable Location: 1667 York Avenue sits just steps from the serene East River Esplanade, offering scenic waterfront walks and bike paths. The neighborhood blends quiet residential charm with easy access to some of Manhattan’s most beloved attractions, including Carl Schurz Park and the world-renowned Museum Mile along Fifth Avenue. Nearby, residents can enjoy acclaimed dining options such as Jones Wood Foundry, Uva, and J.G. Melon, alongside cozy cafés and upscale boutiques. Convenient transportation options include the Q train at 86th Street and multiple bus routes along York and First Avenues, ensuring seamless connectivity to the rest of the city.