Keller Williams NYC has been retained on an exclusive basis to market this 9 Unit, 5 Story, walk-up apartment building in East Harlem. The property is located flush against the East River Plaza Shopping Mall. Completely renovated with new partitions, windows, bathrooms, kitchens and floors throughout. East Harlem's venerable cultural, dining, and recreational institutions just blocks away. Golf driving range and baseball batting cages right over the bridge.
East Harlem is a quickly gentrifying neighborhood in Manhattan, New York with high demand for both rental and condo inventory. The development activity in this area is robust and there has been a trend of prices steadily appreciating over the last several years. The area has extremely low residential vacancies and rare investment opportunities. A major contributor to the influx of residents and development has been the creation and expansion of the Second Avenue Subway Line which is planned to reach 125th St. This building is shown by appt. only.
Current Rent Roll 2017 (Way bellow market rates).
Apt 1 $2150
Apt 2A $1400
Apt 2B $1550
Apt 3A $1550
Apt 3B $1800
Apt 4A $1550
Apt 4B $1500
Apt 5A $1500
Apt 5B $1550
Total Monthly Income at current rates:$174,600 / Year
Projected Total Monthly Income at present market rates: $255,960/ Year
Projected NOI: $155,000/ Year
Note: Current Rental Rates in East Harlem
The average listed rate for 1 Bdr in East Harlem is currently $2,339 and $2,618 for a 2 Bdr.
103 Street (4,6 Line) Transit Stop
110 Street (4,6 Line) Transit Stop
116 Street (4,6 Line) Transit Stop
Central Park North (110 Street) (2,3 Line) Transit Stop
Harlem 125th St Metro-North Railroad Station (Hudson, Harlem, New Haven Lines) (1.1 miles) 6 min.
Yankees-E 153rd St Station Commuter Rail (Hudson Line) (2.6 miles)
La Guardia (6.1 miles) 13 min.
Newark Liberty International Airport (26.2 miles) 37 min.
John F. Kennedy Liberty International Airport (15.4 miles) 31 min.
East River Plaza Shopping Mall which is home to Costco, Target, Marshalls, Old Navy, Pet Smart, Bobs Discount Furniture, Planet Fitness, Aldi, Game Stop, Old Navy and others.
The information provided is considered to be correct, however, we make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided with respect but not limited to the income or expenses, the property size and square footage nor any other information contained hereinto.
This information is not verified for authenticity or accuracy and is not guaranteed and may not
reflect all real estate activity in the market.
REBNY Listing Service, Inc. All rights reserved.