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2296 Frederick Douglass Blvd - Aloft Harlem

3,700 SF Office/Retail Condo Unit Offered at $3,850,000 in New York, NY 10027

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Property Facts

Price	$3,850,000	Building Class	B
Unit Size	3,700 SF	Floors	12
No. Units	1	Typical Floor Size	8,627 SF
Total Building Size	103,522 SF	Year Built	2010
Property Type	Hospitality (Condo)	Lot Size	0.37 AC
Property Subtype	Hotel	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Sale Type	Investment

Price	$3,850,000
Unit Size	3,700 SF
No. Units	1
Total Building Size	103,522 SF
Property Type	Hospitality (Condo)
Property Subtype	Hotel
Sale Type	Investment
Building Class	B
Floors	12
Typical Floor Size	8,627 SF
Year Built	2010
Lot Size	0.37 AC
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

1 Unit Available

Unit Retail

Unit Size	3,700 SF	Sale Type	Investment
Price	$3,850,000	Cap Rate	5.85%
Price Per SF	$1,040.54	NOI	$225,225
Condo Use	Office/Retail

Unit Size	3,700 SF
Price	$3,850,000
Price Per SF	$1,040.54
Condo Use	Office/Retail
Sale Type	Investment
Cap Rate	5.85%
NOI	$225,225

Description

Juno Medical is a modern healthcare provider with a range of services including primary care, pediatrics, rheumatology, same-day urgent care, and women's health. Juno is led by Dr. Shante Hinson, with two locations in New York City. The Property is a fully built-out medical office with a phlebotomy room, x-ray room, and 11 exam rooms.

Recently constructed in 2010, the Property is on the ground floor of a 12-story building containing 44 residential units and a 124-room Aloft Hotel. The Property is in close proximity to the subway stations and the major retail corridor along 125th Street.

Sale Notes

Northmarq, as the exclusive broker, is proud to present the sale of the retail condominium at 2298 Frederick Douglass Blvd, located in Harlem, New York (the "Property").

Located in the heart of Harlem at the corner of Frederick Douglass Blvd and West 124th Street, the property offers 90 feet of prime frontage along the famous boulevard.

The Property is currently occupied by Juno Medical, who is operating under a passive 10-year NNN lease, providing steady cash flow with minimal responsibilities for the landlord. The Property benefits from an ICIP tax abatement that runs through 2036.