$7.5M East Village Multifamily Opportunity 444 East 13th Street

$7.5M East Village Multifamily Opportunity 444 East 13th Street A rare opportunity is available in the heart of the East Village with the offering of 444 East 13th Street, a 16-unit multifamily walk-up with ground-floor commercial space, now available for $7,500,000. The asset presents a compelling combination of stable in-place income, embedded residential upside, and immediate commercial leasing opportunity in one of Manhattan’s most consistently in-demand rental submarkets. Located between First Avenue and Avenue A, the property sits within a tightly held East Village corridor defined by strong tenant demand, limited ownership turnover, and long-term residential stability. The neighborhood continues to outperform on a relative basis due to its cultural density, walkability, and structurally constrained supply pipeline. The East Village remains one of Manhattan’s most resilient rental markets, supported by consistent demand from young professionals, creative industries, and long-term downtown renters. Its appeal is driven less by unit size and more by lifestyle positioning, transit access, and neighborhood identity, all of which continue to support strong occupancy and sustained rent growth over time. 🏢 Property Overview → 16 residential units → 6-story walk-up configuration → 1 ground-floor commercial unit (vacant) → Approximately 12,384 gross square feet → Approximately 50% free-market units → Remaining units rent-stabilized The building offers a straightforward ownership structure with multiple embedded levers for income growth and long-term value creation. 📊 Income Profile & Value-Add Structure The residential component is evenly balanced between free-market and rent-stabilized units, creating a diversified rent roll that supports both immediate stability and long-term upside. The free-market units provide direct exposure to current East Village market rents, with meaningful upside as leases roll and reset to market levels. The rent-stabilized units provide consistent income and downside protection, while still offering incremental upside through turnover and legal rent adjustments over time. 🏪 Commercial Opportunity The vacant ground-floor commercial space represents a key immediate value-add component of the offering. East Village retail continues to benefit from strong neighborhood-level demand driven by cafés, boutique operators, wellness tenants, and experiential retail concepts. The corridor along East 13th Street is well-positioned for consistent foot traffic and strong residential density, supporting a wide range of retail uses. The vacancy allows an incoming owner to: → Lease at current market rents → Select a tenant aligned with long-term building positioning → Enhance overall income profile immediately upon execution → Create long-term value through tenant quality and lease structure 📐 Pricing Context At $7,500,000 and approximately 12,384 square feet, the asset trades at roughly $606 per square foot. R