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518 East 83rd St
Featured Listings
518 East 83rd St
Value-Add Potential | 20 Apartments
$8,000,000
Sales price
6.6%
Cap Rate
- Scalable Residential Mix: A substantial 20-unit building providing the density required for efficient management and diversified income.
- 95% Free-Market Status: Nearly entirely exempt from rent regulation, offering ownership absolute control over lease terms, renovations, and market-rate adjustments.
- Significant Rental Upside: Current rents are trending approximately 15–20% below market rates, providing a clear and immediate path to increased NOI through mark-to-market renewals or cosmetic upgrades.
- Lifestyle & Connectivity Hub: Surrounded by Michelin-starred dining, elite boutiques, and lush parks, with seamless proximity to major transit lines for effortless citywide access.
