Alpha Realty brings a $44 million portfolio of six renovated, free market walk up buildings to the Manhattan multifamily market. The properties span Kips Bay, Hell’s Kitchen, Carnegie Hill, East Harlem, and Midtown, giving investors access to updated units, strong locations, and long-term value potential.
-- Alpha Realty has been exclusively retained to market six separate, gut‑renovated, free‑market walk‑up buildings across Manhattan. The portfolio spans more than 68,000 square feet and includes 90 residential units in Kips Bay, Hell’s Kitchen, Carnegie Hill, East Harlem, and Midtown. Together, these listings offer some of the most compelling turnkey multifamily opportunities currently available.
The portfolio includes six walk‑up buildings that have each undergone significant renovation and offer a mix of free‑market units across several Manhattan neighborhoods. Property details are as follows:
• 151 East 30th Street, Kips Bay – A 5-story, 11-unit building totaling 8,472 SF, fully gut-renovated in 2021. All units are free market. Asking $9,000,000 with a 5.7% cap rate.
• 446 West 55th Street, Hell’s Kitchen – A 5-story, 20-unit walk-up spanning 9,155 SF. Renovated in 2021 and 90% free-market. Asking $9,500,000 with a 5.9% cap rate.
• 148 East 98th Street, Carnegie Hill – A 6-story elevator building with 11 residential units and a community facility. The building spans 11,000 SF and includes an active condo plan with 12 separate deeds. 100% free market. Asking $8,250,000.
• 308 East 109th Street, East Harlem – A 5-story, 15-unit walk-up totaling 9,915 SF. Renovated and stabilized, with mostly free-market units.
• 205 East 120th Street, East Harlem – A fully renovated 10-unit building near the 4/5/6 train, spanning 10,875 SF. 100% free-market with in-place cash flow and long-term upside.
• 41 East 41st Street, Midtown – A 5-story, mixed-use walk-up featuring 3 large free-market apartments and 2 commercial spaces, totaling 5,000 SF with 10,793 SF of additional air rights. Located just steps from Grand Central and Bryant Park, the property offers significant value-add potential through below-market residential rents in a highly desirable Midtown corridor. Asking $5,500,000 with a 5.3% cap rate.
Lev Mavashev, Principal of Alpha Realty, noted that the portfolio aligns with current investor demand for renovated, free-market multifamily assets across Manhattan.
“These buildings offer exactly what today’s multifamily investors are looking for — free-market units, quality renovations, and prime locations across Manhattan. Whether it's long-term hold or future condo conversion, these are flexible and rare assets.”
Mavashev added: “We’re proud to have been trusted with six exclusive listings in some of the city’s most sought-after neighborhoods. Our team is prepared to deliver seamless execution for all interested buyers.”
About the company: Alpha Realty is a New York City–based brokerage specializing in the sale of multifamily and mixed-use properties across Manhattan and the outer boroughs. The firm represents owners, investors, and developers in acquisitions and dispositions, with a focus on market knowledge, hands on execution, and long-term value strategies.
Contact Info:
Name: Lev Mavashev
Email: Send Email
Organization: Alpha Realty - Investment-Sales | NYC Multifamily
Address: 164 20th St Suite 3D, Brooklyn, NY 11232
Phone: (212) 658-0955
Website: https://www.alpharealtyny.com/
Release ID: 89183214
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