12 hours ago
3
Upgrade to High-Speed Internet for only ₱1499/month!
Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.
Visit Suniway.ph to learn
Lev Mavashev of Alpha Realty brokered the sale of 322 East 93rd Street, a 20-unit Free Market multifamily property on Manhattan’s Upper East Side, achieving a 5.75% cap rate for a Japan-based investor amid intense buyer competition.
New York, NY, United States, July 17, 2025 -- A 20-unit multifamily property at 322 East 93rd Street has changed hands in one of Manhattan’s most competitive submarkets, underscoring investor appetite for Free Market assets in the Upper East Side. Sold at a 5.75% cap rate and $1,251 per square foot, the fully leased building stands out for its rare Free Market rent status and exceptional unit condition—features that sparked robust investor interest and a competitive bidding process.
This transaction presented a rare opportunity for investors to secure a turnkey multifamily building in a neighborhood dominated by rent-regulated inventory. The 20-unit property’s stabilized occupancy, high-quality finishes, and potential for rent growth made it a magnet for value-add buyers and 1031 exchange investors seeking both security and upside.
- Asset Class: 20-unit Multifamily (Free Market Rents)
- Sale Price: 5.75% Cap Rate, $1,251/SF
- Occupancy at Sale: Fully Leased
For more information https://www.alpharealtyny.com/upper-east-side-multifamily-sale-322-e-93rd-st-8-days/
Get the latest news
delivered to your inbox
Sign up for The Manila Times newsletters
By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy.
322 East 93rd Street features twenty meticulously maintained units, all operating at Free Market rents—offering immediate income growth and flexible leasing strategies. Its pristine condition and location in a tranquil Upper East Side enclave provide residents and investors alike with unmatched value and long-term appeal.
The property was marketed as a rare, full Free Market opportunity amid a landscape of rent stabilization, targeting both value-add and exchange buyers. Emphasizing strong in-place rents, high-end unit finishes, and proximity to transit, the marketing campaign generated multiple offers before closing with an all-cash buyer.
Residents at 322 East 93rd Street enjoy the best of Manhattan living, steps from the East River, Carl Schurz Park, and the Second Avenue Subway. Notable neighborhood highlights include:
- Carl Schurz Park (East End Ave & E 86th St): A riverside oasis with dog runs, playgrounds, and gardens.
- Second Avenue Subway (East 96th St Station): Quick access to Midtown and beyond.
- Gracie Mansion (East End Ave & E 88th St): The historic mayoral residence and event venue.
With immediate access to green spaces, transit, and local amenities, the property is a perennial favorite among renters and a strategic asset for investors.
The sale of 322 East 93rd Street reaffirms the enduring appeal of Manhattan’s Free Market multifamily market. With stable income, a prime location, and sustained demand, this asset offers both immediate returns and future growth potential.
Lev Mavashev specializes in multi family investment property sales in NYC with over 1000 buildings sold for $4 Billion.
About Us: US Commercial Lending provides updates about Commercial Real Estate, Lending, Commercial Loans, Banking, Finance, Interest Rates, REITS, Acquisitions and Technology affecting the industry.
Contact Info: Name: Edward Winslow Email: Send Email Organization: US Commercial Lending Address: 135 West 36th Street NY NYV 10018 Phone: 203-912-7244 Website: https://uscommerciallending.com/
Release ID: 89164900
Should any problems, inaccuracies, or doubts arise from the content contained within this press release, we kindly request that you inform us immediately by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will promptly address your concerns within 8 hours, taking necessary steps to rectify identified issues or assist with the removal process. Providing accurate and dependable information is at the core of our commitment to our readers.
