153 East 96th Street
153 East 96th Street is a 40-unit multifamily asset in Carnegie Hill, a transitional upper-Carnegie Hill location that sits at the boundary of East Harlem, which tempers pricing relative to the core of the neighborhood. At $252 per square foot and $234,375 per unit, the pricing reflects a modest discount to prime Upper East Side multifamily comparables, likely due to the building's regulatory rent mix and submarket location. The embedded calculator flags a DSCR of 0.94x, indicating the property does not cover debt service at current income levels under standard financing assumptions, which is a meaningful credit concern for any leveraged acquisition. The seller, Gould Investors, is a credible institutional-grade operator with a clean reputation and extensive NYC multifamily experience, and the listing is represented by a high-volume Newmark team with strong market penetration. Overall the deal presents as a stabilized but modestly cash-flow-constrained asset in a liquid submarket, appropriate for an equity-heavy or long-horizon buyer but carrying notable leverage risk.
Deal Stats
Parties
Seller / Landlord
Gould Investors
Gould Investors is a well-established, Long Island-based real estate investment and management firm with decades of experience owning and operating multifamily and commercial properties across the New York metropolitan area. The firm has a long track record of disciplined portfolio management, and this disposition is consistent with their history of selectively recycling capital from stabilized assets.
Score Analysis
What this score means
A Grade B score indicates this deal qualifies for financing at up to 70% LTV, subject to full underwriting. Most deals at this level proceed to a term sheet within 2 business days.
Why this score
Submarket Location Risk
Upper-Carnegie Hill location at East Harlem boundary constrains pricing power and limits the buyer pool compared to prime UES addresses.
Cash Flow Insufficiency
DSCR of 0.94x means the property cannot service debt under standard financing, creating refinance and default risk for leveraged buyers.
Seller Credibility & Market Access
Gould Investors' institutional pedigree and Newmark's high-volume representation reduce execution risk and signal a legitimate, well-marketed disposition.
Regulatory Rent Mix
Embedded rent regulation limits upside capture and future pricing flexibility relative to market-rate comparable buildings.
Asset Stability & Liquidity
40-unit stabilized multifamily in a liquid Manhattan submarket with institutional seller track record supports transaction certainty and holds resale value.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Operational value-add through unit-level capital improvements
Strategic renovations and rent normalization on turnover could improve NOI by 8–12% and boost DSCR above 1.1x, attracting leverage buyers.
Mixed-use or conversion repositioning study
Exploring ground-floor commercial activation or upper-floor boutique conversions could unlock pricing uplift and differentiate the asset from standard multifamily comparables.
Buyer targeting for equity-heavy or long-hold profiles
Marketing to mission-driven, low-leverage investors (nonprofits, endowments, long-term hold operators) would expand addressable buyer pool and justify the B-grade profile.
