1410 York Avenue | Upper East Side Multifamily Asset
Property Overview
1410 York Avenue is an institutional quality multifamily acquisition opportunity located in Manhattan's Lenox Hill neighborhood on the Upper East Side. The elevator building contains 53 total residential units, positioned moments from major hospitals, academic institutions, luxury retail corridors, and key transit access points. This turn key asset combines durable in place cash flow with clear long term value creation potential. The property was acquired at a compelling basis relative to replacement cost, offering both stable in place income and market rate upside.
Unit Composition and Flexibility
The 53 unit portfolio consists of 35 free market units representing 66 percent of the building, along with 17 rent stabilized units and 1 rent controlled unit. This strong free market majority provides immediate operational flexibility and exposure to current Manhattan market rents. The regulated component delivers long term income stability and downside protection. The mix positions the asset for both defensive yield and embedded growth potential.
Lenox Hill Market Fundamentals
Lenox Hill continues to outperform on core fundamentals including a low vacancy environment, an affluent and stable tenant base, and strong institutional and medical employment drivers nearby. The submarket maintains high barriers to new development, supporting consistent long term rental demand. The neighborhood's combination of supply constraints and resilient market conditions creates a compelling foundation for the asset. These factors establish Lenox Hill as one of Manhattan's most supply constrained and resilient rental submarkets.
Strategic Location and Access
The property sits in the heart of Lenox Hill with proximity to major hospitals and academic institutions that serve as significant employment drivers for the neighborhood. Positioned near luxury retail corridors and key transit access points, the location benefits from multiple demand generators. The Upper East Side location provides exposure to Manhattan's most established and affluent residential markets. Proximity to institutional anchors supports tenant stability and consistent rental demand.
Value Creation Opportunity
The acquisition combines a rare mix of stable in place income, market rate upside, long term repositioning potential, and replacement cost dislocation. The property functions as a core Upper East Side multifamily asset with both defensive yield characteristics and embedded growth. The strong free market unit majority enables operational flexibility to capitalize on current market rents while regulated units provide income stability. The turn key status eliminates operational barriers and positions immediate cash flow alongside future value creation.
Investment Profile
Offered at USD 24,000,000, this property represents an institutional grade multifamily opportunity in one of Manhattan's most resilient neighborhoods. The asset delivers both immediate operational benefits through in place cash flows and long term appreciation potential through market dynamics and repositioning. The combination of supply constraints, strong employment fundamentals, and affluent tenant base supports both near term yield and long term value stability. This core Upper East Side multifamily asset is positioned for investors seeking exposure to Manhattan's most durable rental markets.
Questions
What is the total unit count and breakdown at 1410 York Avenue?
The property contains 53 total residential units comprising 35 free market units (66 percent of the portfolio), 17 rent stabilized units, and 1 rent controlled unit. The strong free market majority provides immediate operational flexibility and exposure to current Manhattan market rents, while the regulated units deliver long term income stability and downside protection.
What neighborhoods and amenities surround this Upper East Side location?
Located in the heart of Lenox Hill on Manhattan's Upper East Side, the property sits moments from major hospitals, academic institutions, luxury retail corridors, and key transit access points. These proximity factors establish strong institutional and medical employment drivers that support consistent long term rental demand in this supply constrained submarket.
Why is Lenox Hill considered a resilient rental submarket?
Lenox Hill continues to outperform on fundamentals including a low vacancy environment, an affluent and stable tenant base, and strong institutional and medical employment drivers nearby. The neighborhood maintains high barriers to new development, which restricts new supply and supports consistent long term rental demand. These factors make Lenox Hill one of Manhattan's most supply constrained and resilient rental submarkets.
What value creation potential does this asset offer?
The property combines stable in place income, market rate upside, long term repositioning potential, and replacement cost dislocation. The 35 free market units enable exposure to current Manhattan market rents with operational flexibility, while the regulated units provide income stability. The turn key elevator building status and institutional quality acquisition basis position the asset for both immediate cash flow and long term appreciation.
How does this property serve as a defensive and growth oriented investment?
As a core Upper East Side multifamily asset, the property functions with both defensive yield and embedded growth characteristics. The strong free market unit majority provides upside exposure to Manhattan rental rates, while the rent stabilized and rent controlled units deliver long term income stability. The combination of low vacancy, affluent tenants, and strong employment drivers in Lenox Hill supports both near term yield and long term value stability.
What is the acquisition price and investment profile?
The property is offered at USD 24,000,000 as an institutional quality acquisition opportunity. The acquisition basis was compelling relative to replacement cost, positioning the asset for investors seeking exposure to Manhattan's most durable and supply constrained rental markets. The investment combines immediate operational cash flows from the in place tenant base with long term appreciation potential through market dynamics and repositioning.
A rare Upper East Side multifamily acquisition opportunity
An institutional-quality acquisition opportunity at 1410 York Avenue in Manhattan’s Upper East Side.
Located in the heart of Lenox Hill, this elevator multifamily asset combines durable in-place cash flow with clear long-term value creation potential — acquired at a compelling basis relative to replacement cost.
→ 53 total residential units
→ 35 free-market units (66%)
→ 17 rent-stabilized units
→ 1 rent-controlled unit
A strong free-market majority provides immediate operational flexibility and exposure to current Manhattan market rents, while the regulated component delivers long-term income stability and downside protection.
A turn-key elevator building in one of Manhattan’s most supply-constrained and resilient rental submarkets.
Sold by Global Prime Real Estate · Global Prime Real Estate on the Yesodi marketplace.