---
title: "241 East 123rd Street #1-7, New York, NY 10035"
description: "241 East 123rd Street #1-7, New York, NY 10035 — NYC real estate listing on Real Estate Rebate Team. Priced at $2,549,000. Est. potential buyer savings up to $63,725 (subject to buyer-broker compensation received, lender approval, and applicable law)."
url: "https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10035/241-east-123rd-street--7-17-ny-10035"
source: "Real Estate Rebate Team"
---

# 241 East 123rd Street #1-7, New York, NY 10035

> **Listing Courtesy of:** Daniel Gale of Brooklyn LLC

## Description

PRICE IMPROVEMENT – NOW OFFERED AT $2,549,000.

241 East 123rd Street presents the opportunity to acquire a 7-unit multifamily building in the heart of East Harlem at a 5.4% in-place cap rate with projected returns approaching 6.5%. The property features a balanced mix of 4 free-market and 3 rent-stabilized units, providing stable cash flow today with a clear path to future income growth.

The asset currently generates approximately $136K in NOI and offers multiple opportunities to increase revenue through unit turnover, rent optimization, and operational improvements. Unit 6 is currently owner occupied and Unit 2 is occupied without a formal lease, creating additional avenues for future value creation. The unit mix includes a desirable garden-level 2-bedroom apartment with full ceiling height and private outdoor space, supporting strong rental demand.

Located within an R7B zoning district, the property benefits from additional buildable FAR (buyer to verify), Opportunity Zone designation, and potential assumable financing (subject to lender approval).

Conveniently located near the 4, 5, and 6 subway lines, Metro-North, East River Plaza, and major transportation corridors, the property is well-positioned to benefit from continued neighborhood growth and strong tenant demand.

An attractive value-add investment opportunity offering immediate income, long-term appreciation potential, and multiple paths to future NOI growth.

## Property Details

- **Price**: $2,549,000
- **Potential Buyer Rebate**: $63,725
- **Bedrooms**: 7
- **Bathrooms**: 7
- **Living Area**: 3,600 sqft
- **Property Type**: Residential
- **Year Built**: 1910
- **Building**: 241 East 123rd Street
- **Neighbourhood**: East Harlem
- **Area / Borough**: Manhattan
- **Subdivision**: East Harlem
- **Listing Office**: Daniel Gale of Brooklyn LLC
- **State**: NY

## Estimated Potential Buyer Savings

Real Estate Rebate Team estimates potential buyer savings of up to **$63,725** at closing.

*Estimated by Real Estate Rebate Team. Subject to buyer-broker compensation received, lender approval, transaction terms, and applicable law. Not all listings qualify.*

## Related Links

- [Building details](https://realestaterebatesnewyork.com/buildings//buildings/new-york-city/manhattan/241-east-123rd-street)
- [Neighbourhood guide](https://realestaterebatesnewyork.com/neighborhoods//neighborhoods/new-york-city/manhattan/east-harlem)
- [Calculate your exact cash back and book a showing here](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator)
- [Contact Regis Roumila for more details](https://realestaterebatesnewyork.com/contact)

---

> 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.