Amsterdam Ave, New York, NY 10032

A turnkey, income-producing multifamily in the heart of Upper Manhattan, gut-renovated and enlarged to its current form with a 2023 final Certificate of Occupancy. This elevator-served building offers the systems, layouts, and efficiency of a near-new asset without the lease-up risk: all 14 residential units and the ground-floor commercial space are 100% occupied and producing in-place income from day one.

The asset’s engine is its 421-a tax abatement running through 2059. By suppressing real estate taxes, typically the largest expense on a NYC multifamily, the abatement drives a remarkably lean & aggressive 11% expense ratio, supports $466K of in-place NOI, and delivers a 7.8% cap rate at the $6M ask. The benefit transfers automatically with the property, handing the next owner decades of built-in tax savings.

It sits in one of Manhattan’s most resilient rental markets, a high-traffic corridor with immediate access to the 1, A, C, B, and D lines, supporting steady demand and minimal vacancy. The result is a rare combination at this scale in Upper Manhattan a tax-advantaged, income producing property.

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