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New York City is unique not only for its grandeur city life, neon lights, and a slew of multicultural events and things to do, but it’s also a gold mine for multi family housing investment.
This is because nearly 62.9% of its residents rent a unit in a multi family housing unit – this is almost double the nationwide average of 36.9% of a population living in multi family housing.
For investors and other real estate professionals, the New York multi family housing market creates a unique opportunity to invest in high-demand property that sells at a much higher cost per unit than nearly any other market.
Anyone interested in investing in multi family homes for sale in New York City can search through many different real estate listings, or they can easily search with Reonomy to sift through the entire market—including assets considered “off-market.”
How to Find the Ideal Multi Family Home in NYC
Searching for multi family homes that are “on-market” currently can be done easiest by simply searching on one of the many on-market listing platforms like LoopNet, Zillow, Apartments.com, Craigslist, etc.
We’ll explore a few of the best listing websites and resources to find multi family homes for sale in New York City.
Commercial and Residential Real Estate Listings
The following platforms are some of the best for finding commercial real estate listings in New York City:
LoopNet is arguably the most popular search engine for investing in real estate. LoopNet has over 500,000 listings with 500 of those being in New York. Investors and other real estate professionals can feel at ease and in good hands searching for properties on LoopNet.
Another great asset for investing in multi family homes in New York CIty is that, with so many options, you are guaranteed to find a building that meets all of your needs. LoopNet makes it easy to sort your search results and filter them in order to meet your exact criteria. You can specify if you’re looking for high rise, low rise, walk up, and other building amenities.
CityFeet is one of the leading online real estate networks and has over 200 online partners. CityFeet prides itself on connecting tenants, investors, and brokers, with other real estate professionals helping their search to be enjoyable and done with ease.
CityFeet also grants you the option to search specifically for multi family housing units that are either for sale or for lease. The listings on CityFeet are all going to be units that are currently available and on-market.
Corcoran is location specific and only features available commercial property in three locations: New York, The Hamptons, and South Florida.
Because of its specificity to these three locations, it’s a prime online stop for searching for multi family housing units for sale in New York City. Similar to CityFeet, however, Corcoran only lists housing units that are currently on-market.
Corcoran’s search engine is quite specific as well – you can search in specific New York neighborhoods, price-range, number of bedrooms/units, unit features, types of properties, etc…
All of those options can really help to narrow down and specify the type of property you are looking to invest in.
CREXi is an all-encompassing real estate site specific for commercial real estate professionals. The website features 90,000 commercial listings, with almost 1,000 in New York City alone (including units for sale and for lease).
CREXi makes it possible for real estate professionals to streamline and manage their search with filter options like property size, price, lease type, and amenities. The website also has many options outside of the multi family housing units.
Catalyst features over 50 housing markets in the United States, one of which is New York City. They partner with a variety of players in the commercial real estate arena like brokers, local associations, and economic development communities to build out a listing service that is customized to the local area and easily searchable.
You can search by location, type of housing, cost, size, amenities, and more in order to find the perfect unit to invest in.
Zillow is one of the leading residential real estate listing websites, but it also features commercial properties and multi family homes. With over 110 million properties, 16,000 of which are in New York, Zillow is sure to have a property for everyone.
Zillow also offers Zestimates for the price evaluation and they keep it updated with the current market prices.
Similar to Zillow, Trulia is often used by people looking to find a home to rent or buy, but what makes Trulia unique is their focus on the locals insight and the neighborhood itself.
As an investor, knowing the neighborhood that you’re investing in can be a defining factor for whether or not you choose to invest in a home. Trulia features over 4,000 multi family homes for sale in New York City.
For Sale by Owner Listings
Another great way to find listings that can help alleviate some of the costly broker fees that tend to be associated with most of the commercial and residential property listings is to look at multi family homes that are for sale by owner.
When searching by owner, you can interact directly with the decision-maker without involving a third party.
Online platforms can help streamline properties that are for sale by owner and make it easier for real estate professionals to find the property and contact the owner.
Craigslist, Buildings by Owner, and FSBO.com are among the sites that allow you to search for multi family homes for sale in New York.
CraigsList is an excellent resource for finding multi family housing for sale by owner in New York City because it’s a much smaller market. There is less competition on CraigsList and can be home to hidden real estate gems.
Buildings by Owner
Buildings by Owner features a variety of different types of real estate all for sale by owner. It’s a great website to find commercial, residential, industrial, office, healthcare, and multi family housing for sale.
Users can narrow down their search by location, type of property, size, and price. Currently, their website features almost 200 different buildings for sale by owner in New York City alone.
FSBO.com is a straight-forward and easily searchable database for residential properties for sale by owner throughout the United States.
Using an interactive map, you can get specific when choosing your location and you can also pick from different filters like the number of bedrooms and pricing. FSBO.com also has a search option where you can search for specific properties using their Listing ID number.
Searching NYC Multi Family Homes Off-Market with Reonomy
Another option is to take your search off-market with Reonomy.
The Reonomy platform (NYC or national-specific) consists of multi family homes in every market nationwide—from duplexes, up to the largest multi family buildings in the country.
With Reonomy, you can filter through multi family homes based on a number of sub-asset types like duplex, triplex, dormitories, nursing homes, mobile home parks, frat and sorority houses, and more.
You are able to filter through hundreds of other property qualifications like sales history, debt history, current business tenants, tax history, and ownership.
Reonomy also features a unique owner contact resource with phone numbers and emails to put you in touch with the owner directly without the additional fuss of involving a third party of any kind.
In other words, you can find owners likely to sell and reach out to them directly before they decide to list their property.
NYC Multi Family Home for Sale Search Examples
Each platform is a little different when it comes to how to find exactly the multi family home you’re looking for – especially in New York City.
Here, we’ll show you how to search on three of the leading sites: Zillow, CREXi, and LoopNet.
Brooklyn Duplex Search with Zillow
The first step when searching for multi family homes for sale in New York City is to specify your location on Zillow. To do that, simply enter “Brooklyn New York” into Zillow’s search bar.
Once you’ve got your search narrowed down to Brooklyn, you can use the filters at the top to narrow down your search even further.
You can choose things like how many beds or bathrooms are in the apartment, the type of building, neighborhood, price, and many more.
There’s even an interactive map that’s color coordinated to show which ones are for sale by owner.
Bronx Multi Family Search with CREXi
As with Zillow, the first step on CREXi is to make sure that you are searching for multi family homes for sale in your desired location. In this case, let’s say you’re searching within the Bronx.
You can search within Bronx county or simple by the city. Here we run a search for multi family homes for sale in Bronx County, NY.
You can narrow down your search by clicking on “Advanced Filters” at the top of the page and choose from a plethora of additional filters to find exactly the type of multi family home for sale that you are looking for.
Manhattan Apartment Building Search with LoopNet
The first step to finding your dream property for investment on LoopNet is to narrow your search down specifically to New York using the search bar on the home page.
Then you can select multi family home from there. LoopNet also features a variety of filters within the multi family home category in order to allow you to be as specific as possible to find just the right property.
LoopNet also has a pop up screen where you can specify even further which type of multi family homes for sale in New York City you’re looking for.
Possible selections include low, mid, or high-rise buildings, dorms, and mobile homes.
By using the high-rise selection and/or entering a number of units, you can prioritize your search to find larger buildings in Manhattan or any other borough.
Finding the Right Resource
When looking to invest in multi family homes for sale in New York City, there are many different online resources to choose from and each of them has unique features that help them stand out from the others.
The right resource could be the difference in you finding the ideal property or not. With on-market listings, FSBO listings, or by searching off-market with Reonomy, you can make your search for multi family homes for sale a breeze.