159 E 107th St
New York, NY 10029
Multifamily Property For Sale · 5 Units

Located on the north side of East 107th Street between Lexington and Third Avenues, this five-story brownstone offers a rare opportunity for both users and investors in Manhattan’s vibrant East Harlem neighborhood. The property features five full-floor, free-market one-bedroom apartments, each with generous layouts, exposed brick, and excellent natural light. The garden unit includes direct backyard access and could be duplexed with the basement to add value. Similarly, the top floor offers potential for a duplex expansion using the available 1,156 SF of air rights.
The building is individually metered for gas and electric, with a gas boiler and water heater located in the basement. Common areas are well-maintained with tiled floors, 10-foot ceilings, and a welcoming glass-front entrance. With proximity to the 6 train, residents enjoy seamless access to Midtown and the outer boroughs, enhancing rental appeal.
Financially, the property generates a projected annual income of $153,600 with modest expenses totaling $16,537.64, resulting in a strong net operating income of $137,062.36. All units are leased on a month-to-month basis, providing flexibility for repositioning or owner occupancy. The first-floor tenant does not pay rent per the terms of the sale, offering a unique arrangement for potential buyers.
This asset is ideal for an owner-user seeking supplemental income or an investor looking for a stable, value-add opportunity in a rapidly evolving neighborhood.