355 East 116th Street, New York, NY 10029-1524

New York Multifamily is pleased to offer 355 East 116th Street, an outstanding multi-tenant opportunity on one of the best retail streets in the East Harlem. Located in the lively neighborhood of East Harlem and situated in between 1st and 2nd Avenue, this mixed-use asset is professionally managed with little to no deferred maintenance. Spanning 7,384 square feet across four stories, 355 East 116th Street is composed of 4 total units, 3 residential with 1 commercial tenant. The commercial tenant is responsible for 50% of any property tax increases over the 2026 Base Year, 100% of water consumption, and 100% of gas and electric consumption. Given that the building is less than five units, the residential apartments are statutorily free-market, providing investors with a clear upside to growth. Offered at a 6.9% cap rate, this fully turn-key property offers investors a unique opportunity to acquire a mixed-use building on a prime retail corridor right off 1st Avenue. 355 East 116th Street is located a walk away from Jefferson Park, Public School 155, and the 116th Street 6 Train.