6 Beds
6 Baths
4,760 sqft
$2,450,000
323 E 116TH Street, New York City NY, 10029
Price per sqft$514.71
Built in1910
Property size4,760 sqft
Property typeMulti-family
Overview
Active
Listed Jul 8, 2026
Updated 4 weeks ago
Exceptional Six-Unit Brownstone Investment Opportunity
Rare opportunity to acquire a beautifully maintained income-producing brownstone offering strong in-place cash flow, timeless architectural character, and excellent long-term upside.
The property 17X70 consists of six updated residential apartments, each with its own unique charm. The first-floor duplex features a private backyard and a versatile studio space, ideally suited for a live/work lifestyle-perfect for an artist, photographer, designer, or private professional practice.
The second-floor apartment boasts a spacious private terrace overlooking the landscaped backyard, creating a peaceful outdoor retreat rarely found in city living.
Every apartment has been thoughtfully updated while preserving the building's original character. Features include exposed brick walls, soaring ceilings, loft-like layouts with additional sleeping lofts or storage areas, oversized windows, decorative fireplaces, beautiful original wood doors, floor-to-ceiling mirrors, hardwood floors, and intricate wood moldings and trim throughout the living spaces. Each residence is filled with natural light and enjoys either tranquil garden views or charming tree-lined street views.
The building currently generates approximately $197,800 in annual gross income from residential rents and additional income sources, providing stable cash flow with future upside as leases roll over. Based on the current income and operating expenses, the property offers an approximately 6% capitalization rate, presenting an attractive return compared to many traditional income-producing investments. Several leases extend into 2027, providing predictable income while offering future opportunities for rent growth.
The property can be delivered vacant or with income-producing leases in place, offering exceptional flexibility for investors, owner-users, or those seeking a live/work opportunity.
Additional highlights include:
-Six residential apartments
-Private backyard
-First-floor live/work duplex with studio
-Second-floor apartment with an oversized private terrace
-On-site laundry providing additional income
-Beautifully updated apartments with preserved architectural details
-Attractive investment with strong current returns and long-term appreciation potential
Ideally located near transportation, restaurants, shopping, parks, and neighborhood amenities, this is a rare opportunity to own a distinctive brownstone that combines historic charm, modern updates, and exceptional investment potential.
The owner is currently in the process of obtaining an amended Certificate of Occupancy reflecting the conversion from four to six residential units.
Rare opportunity to acquire a beautifully maintained income-producing brownstone offering strong in-place cash flow, timeless architectural character, and excellent long-term upside.
The property 17X70 consists of six updated residential apartments, each with its own unique charm. The first-floor duplex features a private backyard and a versatile studio space, ideally suited for a live/work lifestyle-perfect for an artist, photographer, designer, or private professional practice.
The second-floor apartment boasts a spacious private terrace overlooking the landscaped backyard, creating a peaceful outdoor retreat rarely found in city living.
Every apartment has been thoughtfully updated while preserving the building's original character. Features include exposed brick walls, soaring ceilings, loft-like layouts with additional sleeping lofts or storage areas, oversized windows, decorative fireplaces, beautiful original wood doors, floor-to-ceiling mirrors, hardwood floors, and intricate wood moldings and trim throughout the living spaces. Each residence is filled with natural light and enjoys either tranquil garden views or charming tree-lined street views.
The building currently generates approximately $197,800 in annual gross income from residential rents and additional income sources, providing stable cash flow with future upside as leases roll over. Based on the current income and operating expenses, the property offers an approximately 6% capitalization rate, presenting an attractive return compared to many traditional income-producing investments. Several leases extend into 2027, providing predictable income while offering future opportunities for rent growth.
The property can be delivered vacant or with income-producing leases in place, offering exceptional flexibility for investors, owner-users, or those seeking a live/work opportunity.
Additional highlights include:
-Six residential apartments
-Private backyard
-First-floor live/work duplex with studio
-Second-floor apartment with an oversized private terrace
-On-site laundry providing additional income
-Beautifully updated apartments with preserved architectural details
-Attractive investment with strong current returns and long-term appreciation potential
Ideally located near transportation, restaurants, shopping, parks, and neighborhood amenities, this is a rare opportunity to own a distinctive brownstone that combines historic charm, modern updates, and exceptional investment potential.
The owner is currently in the process of obtaining an amended Certificate of Occupancy reflecting the conversion from four to six residential units.
$16,300/mo
Est. mortgage payment based on a $2,450,000 home price.
All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.
Additional information
- MLS® ID
- RLS20102420
Interior Features
- Bedrooms
- 6
- Bathrooms
- 6
- Basement
- No
Exterior Features
- Lot Size
- 0.04 Acres
Other Property Details
- Taxes
- $26,388
- Tax Frequency
- Annually
Listing Courtesy of Brown Harris Stevens Residential Sales LLC - Olga Zoria
Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the “RLS”). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved
RLS Data display by SERHANT.. Data last updated on 8/21/2026 at 10:52 PM UTC
