132 Cortlandt Street, Tarrytown, NY 10591 For Sale

Marcus & Millichap – New York Multifamily is pleased to exclusively offer 132 Cortlandt Street, a fully renovated, turnkey three-unit multifamily building in the Village of Sleepy Hollow, Westchester County. The property comprises 3,760 gross square feet across two two-bedroom apartments and a three-bedroom owner’s duplex delivered vacant. Priced at $1,250,000 — $416,667 per unit and $332 per square foot — the asset produces $82,982 of in-place net operating income, a 6.64% going-in cap rate that expands to 7.40% on pro forma.

TURNKEY RENOVATION

Fully renovated and delivered turnkey, the building carries no deferred maintenance and no near-term capital expenditure backlog. The three-bedroom owner’s duplex is delivered vacant, letting a buyer set market rent or owner-occupy from day one.

ATTRACTIVE IN-PLACE YIELD

Priced at $1,250,000, the asset delivers $82,982 of in-place NOI — a 6.64% going-in cap rate that expands to 7.40% on $92,494 of pro forma NOI as the vacant duplex is leased and free-market rents grow.

100% FREE-MARKET UNIT MIX

All three residential units are free-market with no rent stabilization — two two-bedroom apartments plus a three-bedroom owner’s duplex across 3,760 gross square feet. There is no DHCR risk or regulatory complexity.

SUPPLY-CONSTRAINED WESTCHESTER

Sleepy Hollow sits in supply-constrained Westchester County, where rental vacancy has fallen to a historic ~1.9% and Metro-North’s Hudson Line drives

durable commuter demand — fundamentals that underpin pricing power and rent growth.