Property Description

For Sale: Gramercy Multi-Family, 8 Units (3 Free Market, 5 Rent-Stabilized) $2,999,000
Rare Investment opportunity!

Nestled on a quiet, tree-lined block in Gramercy Park, this boutique pre-war apartment building offers an exceptional opportunity on Manhattan's coveted east side. Built in 1910 and meticulously maintained, the four-story walk-up comprises 8 residential units across approximately 4,196 square feet, blending timeless character with reliable income.

The property features a total of 10 bedrooms and 8 bathrooms, configured as six spacious studios and two duplex two-bedroom residences, one of which includes a private balcony. A shared rooftop terrace and basement add to the building's functionality and desirability.

Currently configured with 3 free-market units and 5 rent-stabilized units, the building provides both consistent income and long-term upside potential.

Ideally located just under half a mile from Union Square and major subway lines-including the L, N, Q, R, 4, 5, 6, and W-352 East 19th Street combines the best of Manhattan convenience with Gramercy's signature neighborhood charm.

A rare chance to acquire a boutique multi-family asset in one of Manhattan's most enduringly desirable residential enclaves. The property also carries 1,207 sq. ft. of unused air rights.

 

Property Features