Updated 13 days ago
Off Market
323 East 116th Street
East Harlem, Manhattan | Third Ave & Second Ave
10 Rooms6 Beds6.5 Baths4,760 Square FeetIncome Property
$2,450,000
floors / apts4 / 6
Lot Size16'6"x101'
Built Size16'6"x48'
ZoneR7B
Building TypeTownhouse
RE Taxes$26,388
Price Per SF
$515
Listing Features
- Architectural Dtls
- High Ceilings
- Original Details
Outdoor space and views
- Backyard
- Terrace [16'x11']
- North Exposure
- South Exposure
Building Amenities
- Voice Intercom
- Garden
- Laundry Room
Property Description for 323 East 116th Street
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.
Listing History for 323 East 116th Street
Now
07/08/2026
$2,450,000
Initial Price by Olga Zoria
Brown Harris Stevens
2026
Building Details for 323 East 116th Street
OwnershipIncome Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts4/6
Transit and Citi Bike
Subway
116 St
0.27 miles
110 St
0.4 miles
Citi Bike
1 Ave & E 118 St
0.14 miles
E 114 St & 1 Ave
0.16 miles
East Harlem | Manhattan
Quick Profile
Take a stroll through East Harlem and you’ll find a vibrant, culturally diverse neighborhood, which is evident no matter which direction you look. East Harlem is also known as Spanish Harlem, El Barrio, and “The Neighborhood,” as it is home to a population that represents Hispanic immigrants, primarily from Puerto Rico, as well as from Mexico, Cuba, and the Dominican Republic. These immigrants brought their cultures with them, in the form of music, dance, art, and food. During the day, you’ll find the neighborhood filled with opportunities to experience Latin culture. Both the salsa dance craze and the graffiti style of art were born right in East Harlem. There are many great places to sample authentic cuisine, from Rao’s (where you cannot get a table unless you inherit one, and any reservations must be booked years in advance) to sidewalk carts, where you can get the best “street meat” to be had in NYC.
In East Harlem you’ll find a number of innovative educational opportunities in the form of specialized and charter schools that are considered top-notch. Many of these have very competitive admissions criteria and offer curricula that focus on creativity and social awareness. Such schools are a draw for young families that want to raise their children in an educational system that goes above and beyond the standard.
The vibe of East Harlem is one of community and neighbors that interact with each other routinely. There are many small, family-owned and -operated businesses and restaurants that have been neighborhood anchors for years. As you stroll through East Harlem, you will be immersed in sights, sounds and flavors that are straight from Latin American or the Caribbean islands, sometimes both at once. You can sample Puerto Rican-inspired plantain mofongo, which is mashed plantains with garlic and pork rinds, from local sidewalk carts. Or if it is a hot summer’s day, you might enjoy a Mexican-inspired licuado, which is a blended drink similar to a smoothie, made with milk, fruit, and ice. Sometimes, spices, citrus juices, and sugar are added. Although you will find an abundance of authentic cuisine and music no matter where you look in East Harlem.
Prefer to cook at home? East River Plaza offers Target, Costco, and Aldi stores, all of which offer fresh food at reasonable prices.
East Harlem housing consists of more affordable walk-ups, low-rise pre-war buildings, brownstones, and is dominated housing complexes. You can find some comparatively large apartments at reasonable price points, and even some rent-stabilized apartments. Luxury co-op and condo units are being built on the southern boundary of East Harlem.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 24355TH
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