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407 E 77th St
New York, NY 10021
Multifamily Property For Sale
·
15 Units
Investment Highlights
- Located on Manhattan’s Upper East Side between First and York Avenues.
- Two owner-occupied units and three furnished rentals to be delivered vacant six months after closing.
- Near Q train and major bus routes, with proximity to top-tier retail and dining.
- Five-story, 15-unit building with a mix of free market and stabilized apartments.
- Significant upside potential through renovations and lease-up strategy.
- Favorable zoning (R8B) and repositioning possibilities for long-term value creation.
Executive Summary
Beyond Capital at Keller Williams NYC has been retained on an exclusive basis to arrange the sale of 407 East 77th Street, a 5-story, 15-unit multifamily walk-up on a prime Upper East Side block between 1st and York Avenues. Built in 1910 and well-maintained, the building offers 10,280 SF of gross floor area on a 25 x 102.17 ft lot.
The unit mix is heavily free-market — 11 free market, 3 rent stabilized, and 1 rent controlled — a rare profile for the neighborhood. Two owner-occupied units along with three furnished rentals will be delivered vacant six months post-closing, allowing new ownership to reset rents to market, renovate, or owner-occupy.
Current scheduled gross income is $380,637 with NOI of $148,885. Pro forma scheduled gross income is $617,037 with NOI of $385,400, representing $236,400 of immediate rent roll upside through lease-up of the delivered-vacant units and rolling expiring free-market leases to market.
The property sits steps from the Q train, major bus lines, and the dining and retail corridors of 2nd and 3rd Avenues. Zoning is R8B, building class C4. Ideal for 1031 exchange buyers, long-term holders, value-add operators, and owner-users seeking a stabilized asset with built-in growth in one of Manhattan's most in-demand residential neighborhoods.
The unit mix is heavily free-market — 11 free market, 3 rent stabilized, and 1 rent controlled — a rare profile for the neighborhood. Two owner-occupied units along with three furnished rentals will be delivered vacant six months post-closing, allowing new ownership to reset rents to market, renovate, or owner-occupy.
Current scheduled gross income is $380,637 with NOI of $148,885. Pro forma scheduled gross income is $617,037 with NOI of $385,400, representing $236,400 of immediate rent roll upside through lease-up of the delivered-vacant units and rolling expiring free-market leases to market.
The property sits steps from the Q train, major bus lines, and the dining and retail corridors of 2nd and 3rd Avenues. Zoning is R8B, building class C4. Ideal for 1031 exchange buyers, long-term holders, value-add operators, and owner-users seeking a stabilized asset with built-in growth in one of Manhattan's most in-demand residential neighborhoods.
Property Facts
| Price Per Unit | $564,280 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.42% | Lot Size | 0.06 AC |
| No. Units | 15 | Building Size | 10,280 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | R8B - High density residential district | ||
| Price Per Unit | $564,280 CAD |
| Sale Type | Investment |
| Cap Rate | 6.42% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 10,280 SF |
| No. Stories | 5 |
| Year Built | 1910 |
| Zoning | R8B - High density residential district |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 15 | - | - |
Property Taxes
| Parcel Number | 1472-0007 | Improvements Assessment | $1,198,189 CAD |
| Land Assessment | $244,001 CAD | Total Assessment | $1,442,190 CAD |
Property Taxes
Parcel Number
1472-0007
Land Assessment
$244,001 CAD
Improvements Assessment
$1,198,189 CAD
Total Assessment
$1,442,190 CAD
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