323 E 116th Street, Manhattan, NY 10029
Local realty services provided by:CENTURY 21 Awaye Realty
323 E 116th Street,Manhattan, NY 10029
$2,450,000
- 6 Beds
- 6 Baths
- 4,760 sq. ft.
- Multi-family
- Active
Listed by: olga zoria
Office: brown harris stevens residential sales llc.
MLS#:RLS20102420
Source:NY_REBNY
Price summary
- Price:$2,450,000
- Price per sq. ft.:$514.71
About this home
<strong>Exceptional Six-Unit Brownstone Investment Opportunity<br> </strong><br> Rare opportunity to acquire a beautifully maintained income-producing brownstone offering strong in-place cash flow, timeless architectural character, and excellent long-term upside.<br> <br> The property 17X70 consists of six updated residential apartments, each with its own unique charm. The <strong>first-floor duplex </strong>features a private backyard and a versatile studio space, ideally suited for a live/work lifestyle-perfect for an artist, photographer, designer, or private professional practice.<br> <br> The <strong>second-floor apartment</strong> boasts a spacious private terrace overlooking the landscaped backyard, creating a peaceful outdoor retreat rarely found in city living.<br> <br> Every apartment has been thoughtfully updated while preserving the building's original character. Features include exposed brick walls, soaring ceilings, loft-like layouts with additional sleeping lofts or storage areas, oversized windows, decorative fireplaces, beautiful original wood doors, floor-to-ceiling mirrors, hardwood floors, and intricate wood moldings and trim throughout the living spaces. Each residence is filled with natural light and enjoys either tranquil garden views or charming tree-lined street views.<br> <br> The building currently generates approximately <strong>$197,800 in annual gross income </strong>from residential rents and additional income sources, providing stable cash flow with future upside as leases roll over. Based on the current income and operating expenses, the property offers an approximately 6% capitalization rate, presenting an attractive return compared to many traditional income-producing investments. Several leases extend into 2027, providing predictable income while offering future opportunities for rent growth.<br> <br> <strong>The property can be delivered vacant or with income-producing leases in place, offering exceptional flexibility for investors, owner-users, or those seeking a live/work opportunity.</strong><br> <br> Additional highlights include:<br> <br> -Six residential apartments<br> -Private backyard<br> -First-floor live/work duplex with studio<br> -Second-floor apartment with an oversized private terrace<br> -On-site laundry providing additional income<br> -Beautifully updated apartments with preserved architectural details<br> -Attractive investment with strong current returns and long-term appreciation potential<br> <br> Ideally located near transportation, restaurants, shopping, parks, and neighborhood amenities, this is a rare opportunity to own a distinctive brownstone that combines historic charm, modern updates, and exceptional investment potential.<br> <br> <strong>The owner is currently in the process of obtaining an amended Certificate of Occupancy reflecting the conversion from four to six residential units.</strong><br>...
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Home facts
- Year built:1910
- Listing ID #:RLS20102420
- Added:1 day(s) ago
- Updated:July 09, 2026 at 01:34 AM
Rooms and interior
- Bedrooms:6
- Total bathrooms:6
- Full bathrooms:6
- Rooms Total:8
- Basement:Yes
- Living area:4,760 sq. ft.
Structure and exterior
- Year built:1910
- Building area:4,760 sq. ft.
Finances and disclosures
- Price:$2,450,000
- Price per sq. ft.:$514.71
- Tax amount:$26,388
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