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MultiFamily Property at 332 East 6th Street

MultiFamily Property at 332 East 6th Street
FOR SALE
View more

$9,000,000

332 East 6th Street, New York, NY 10003

7,800 SF

Square Feet

$1,154

PPSF

6.00%

CAP

Property Description

NOI

$540,000

Cap Rate

6.00%

Marketing description

Marcus & Millichap is pleased to exclusively offer 332 East 6th Street, a 6-story multifamily building located on the south side of the street between 1st Avenue and 2nd Avenue. This 12-unit property is comprised of approximately 7,800 square feet with 25' of frontage. The building is 25' x 52' and sits on a 25' x 97' lot (Block: 447; Lot: 22). The property is zoned R8B.

Investment highlights

  • High-End Finishes: Elevating the stature of this property is its newly renovated interiors. All 10 Free Market units within the building are adorned with Large Bedrooms, Hardwood Floors, Dishwashers, Kitchen with Stainless Steel Appliances and Granite Countertops, In-Unit Washer/Dryer, New Marble Bathrooms, and Amazing Light Throughout.
  • Diverse Unit Mix: This six-story, pre-war, multifamily building contains 12 residential units. There is 1 Studio, 1 1-Bedroom, 1 2-Bedroom and 9 3-Bedroom apartment.
  • 83% Free Market: 10 of the 12 residential units are Free-Market, allowing new ownership to take advantage of the robust rental market in the East Village.
  • Location & Accessible Transportation: Located in the Heart of the East Village, 332 East 6th Street has a Natural Strong Demand Given its Centralized Location and Access to all the Neighborhood has to Offer. This creates a strong demand of renters and tenants given endless supply of restaurants, nightlife, parks, shopping, and transportation. The properties' nearby attractions include Tompkins Square Park, Astor Place, Union Square, NYU, Whole Foods and more. Top restaurants nearby include Cafe Mogador, The Bao, Oiji, Emmy Squared, Cacio E Pepe, Lavagna, Nowon, Buenos Aires and too many more to name. Conveniently Located steps from Astor Place Station and walking distance to Union Square.

Property Details

Asset Type

MultiFamily

Year Built

1900

Zoning

R8B

Neighborhood

East Village

Submarket

New York

ZIP

10003

Listing Type

sale

Net Operating Income (NOI)

$856,710

Debt Service Coverage Ratio (DSCR)

1.67x

Cap Rate

9.52%

Cash Flow (Annual)

$344,735

Cash-on-Cash Return

15.32%

Monthly Debt Service

$42,665

Annual Debt Service

$511,975

View on Map

Address

332 East 6th Street

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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale

No investors found in this market.

Contact the Listing Team

Joe Koicim

Joe Koicim

Executive Managing Director

180 closed

Matt Berger

Matt Berger

Investment Sales

22 closed

Send a Message

Joe Koicim

Joe Koicim

Executive Managing Director

180 closed

Matt Berger

Matt Berger

Investment Sales

22 closed