62 E 131st St
5 Unit Apartment Building $2,900,000 ($580,000/Unit) New York, NY 10037
INVESTMENT HIGHLIGHTS
- Fully renovated in 2013
- These 900± SF spacious 1BR units (with individual elevator access) may be converted into 2BR units, creating additional value for future ownership
- A new elevator was installed, which provides keyed access to each individual units for each floor
- 5 spacious free market apartments consisting of 6,013± total SF
- The property is newly gut renovated and will be delivered vacant
EXECUTIVE SUMMARY
Besen Partners, as exclusive agent for Ownership, is pleased to offer for sale 62 East 131st Street, New York, NY 10037 (the “Property”) located on the south side of East 131st Street between Park and Madison Avenues in the East Harlem neighborhood of Manhattan.
Built circa 1926 and fully renovated in 2013, this 6-story elevatored multifamily brownstone building contains 5 spacious free market apartments consisting of 6,013± total SF. These 900± SF spacious 1BR units (with individual elevator access) may be converted into 2BR units, creating additional value for future ownership. The property is newly gut renovated and will be delivered vacant. A new elevator was installed, which provides keyed access to each individual units for each floor. It is ideally suited for a user/investor who may occupy 1-2 units and generate income from the others. It could also be a single-family conversion or be sold individually as a condo or co-op. The property benefits from having protected tax class 2A and subsequently low taxes. Full Certificate of Occupancy expected by year-end.
Built circa 1926 and fully renovated in 2013, this 6-story elevatored multifamily brownstone building contains 5 spacious free market apartments consisting of 6,013± total SF. These 900± SF spacious 1BR units (with individual elevator access) may be converted into 2BR units, creating additional value for future ownership. The property is newly gut renovated and will be delivered vacant. A new elevator was installed, which provides keyed access to each individual units for each floor. It is ideally suited for a user/investor who may occupy 1-2 units and generate income from the others. It could also be a single-family conversion or be sold individually as a condo or co-op. The property benefits from having protected tax class 2A and subsequently low taxes. Full Certificate of Occupancy expected by year-end.
PROPERTY FACTS
| Price | $2,900,000 |
| Price Per Unit | $580,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 6,013 SF |
| Average Occupancy | 0% |
| No. Stories | 6 |
| Year Built/Renovated | 1926/2013 |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
1 of 1
Walk Score®
Very Walkable (84)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 1755-0044 | Improvements Assessment | $93,310 |
| Land Assessment | $117,900 | Total Assessment | $183,856 |
ZONING
| Zoning Code | R7-B, New York (C9) (Please use information on cwsmarketing.com with regards to the Auction sale of this property) |
