27 Henry St
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27 Henry St
19 Unit Apartment Building $3,150,000 ($165,789/Unit) 5.57% Cap Rate New York, NY 10002
Investment Highlights
- 5-story multifamily building with 20 well-maintained residential units
- Close Proximity to Subways, Firehouse, Schools, Bikes, Parks. Surrounded by dining options, retail outlets, and cultural attractions
- Low Cost Basis
- 9,474 square feet, measuring 25’ x 76’ on a 25’ x 100’ lot
- Stable cash flow from well-maintained units
- Long Term End User Family Ownership
Executive Summary
Investment Property Realty Group (IPRG) is pleased to exclusively represent the generational family ownership of 27 Henry Street, a 5-story multifamily building located in the thriving Two Bridges neighborhood of Manhattan.
Spanning 9,474 square feet, this property consists of 20 well-maintained residential units, offering a prime opportunity for investors seeking stable cash flow and a solid income-producing asset. The building measures 25’ x 76’ on a 25’ x 100’ lot, and is situated within the R7-2 and C6-1G zoning districts. It is designated as Tax Class 2, providing a favorable tax status for the long-term owner.
Located just between Catherine and Market Street, 27 Henry Street is within close proximity to key transportation hubs, with access to multiple subway lines including the F, J, Z, 4, 5, 6, B, D, N, Q, R, W, and Z trains. This makes commuting and connectivity to the broader city seamless. Additionally, it’s just under 500 feet from Kimlau Square and surrounded by numerous parks and local landmarks, such as St. James Triangle, Alfred E. Smith Playground, and Sara D. Roosevelt Park, offering tenants both convenience and vibrant community engagement. The property is located within walking distance of several educational institutions, including Pace University (0.46 miles), Pacific College of
Oriental Medicine (0.6 miles), New York Academy of Art (0.62 miles), and New York Law School (0.64 miles), making it an attractive residential option for students and professionals alike.
The location further enhances the appeal of 27 Henry Street, with nearby dining options, retail outlets, and cultural attractions. Investors will appreciate the stable rental income from the well-maintained units and the property’s potential for future appreciation in this rapidly developing area.
This is a rare opportunity to acquire a 20-unit multifamily building in a high-demand area of Manhattan, with a strong basis, offering investors steady income and long-term growth potential in the heart of Two Bridges.
Spanning 9,474 square feet, this property consists of 20 well-maintained residential units, offering a prime opportunity for investors seeking stable cash flow and a solid income-producing asset. The building measures 25’ x 76’ on a 25’ x 100’ lot, and is situated within the R7-2 and C6-1G zoning districts. It is designated as Tax Class 2, providing a favorable tax status for the long-term owner.
Located just between Catherine and Market Street, 27 Henry Street is within close proximity to key transportation hubs, with access to multiple subway lines including the F, J, Z, 4, 5, 6, B, D, N, Q, R, W, and Z trains. This makes commuting and connectivity to the broader city seamless. Additionally, it’s just under 500 feet from Kimlau Square and surrounded by numerous parks and local landmarks, such as St. James Triangle, Alfred E. Smith Playground, and Sara D. Roosevelt Park, offering tenants both convenience and vibrant community engagement. The property is located within walking distance of several educational institutions, including Pace University (0.46 miles), Pacific College of
Oriental Medicine (0.6 miles), New York Academy of Art (0.62 miles), and New York Law School (0.64 miles), making it an attractive residential option for students and professionals alike.
The location further enhances the appeal of 27 Henry Street, with nearby dining options, retail outlets, and cultural attractions. Investors will appreciate the stable rental income from the well-maintained units and the property’s potential for future appreciation in this rapidly developing area.
This is a rare opportunity to acquire a 20-unit multifamily building in a high-demand area of Manhattan, with a strong basis, offering investors steady income and long-term growth potential in the heart of Two Bridges.
Property Facts
| Price | $3,150,000 | Apartment Style | Mid Rise |
| Price Per Unit | $165,789 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 5.57% | Building Size | 9,474 SF |
| No. Units | 19 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment |
| Price | $3,150,000 |
| Price Per Unit | $165,789 |
| Sale Type | Investment |
| Cap Rate | 5.57% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 9,474 SF |
| No. Stories | 5 |
| Year Built | 1900 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 19 | - | - |
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Walk Score ®
Walker's Paradise (100)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 0280-0003 | Improvements Assessment | $474,300 |
| Land Assessment | $112,500 | Total Assessment | $586,800 |
PROPERTY TAXES
Parcel Number
0280-0003
Land Assessment
$112,500
Improvements Assessment
$474,300
Total Assessment
$586,800
zoning
| Zoning Code | R7-1, C6-1G |
| R7-1, C6-1G |
Contacts
-
Derek Bestreich -
Zachary Ziskin -
Adam Lobel -
Justin Zeitchik -
Christian Ingenito -
Investment Property Realty Group
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27 Henry St
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