MIXED-USE APARTMENT BUILDINGS FOR SALE
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MIXED-USE APARTMENT BUILDINGS FOR SALE
3 Properties Offered at $10,000,000 in New York, NY
Investment Highlights
- The zoning allows a 43,056 square feet property to be built, this would include inclusionary housing
- City of Yes Program allow 63,000 square feet buildable with 45 year tax abatement.
Executive Summary
A package of two mixed-use buildings on Frederick Douglas Blvd along with a two story commercial building located at 303 West 128th Street. 2391 Frederick Douglas Blvd is a 25’ wide four unit four story corner mixed-use building. 2391 Frederick Douglas Blvd is a 25’ wide three unit four story mixed-use building. 303 West 128th Street is a two story commercial building.
Located in prime Harlem, the property is a prime investment and development opportunity. Since the apartments are free market the investor can renovate them and the common areas and increase rents. The investor can have the tenants pay for their own utilities or combine the apartments to get higher rents. The five stores is an added bonus since they have a great corner location and within walking distance to the A, C, B and D trains on 125th & Saint Nicholas Avenue. They will always be a strong demand for them.
The zoning, lot size makes the property a prime development opportunity. The zoning allows a 43,056 square feet property to be built, this would include inclusionary housing. The apartments can be a mixture of one and two-bedroom apartments.
Located in prime Harlem, the property is a prime investment and development opportunity. Since the apartments are free market the investor can renovate them and the common areas and increase rents. The investor can have the tenants pay for their own utilities or combine the apartments to get higher rents. The five stores is an added bonus since they have a great corner location and within walking distance to the A, C, B and D trains on 125th & Saint Nicholas Avenue. They will always be a strong demand for them.
The zoning, lot size makes the property a prime development opportunity. The zoning allows a 43,056 square feet property to be built, this would include inclusionary housing. The apartments can be a mixture of one and two-bedroom apartments.
Property Facts
| Price | $10,000,000 | Number of Properties | 3 |
| Price / SF | $757.58 / SF | Individually For Sale | 0 |
| Cap Rate | 5.76% | Total Building Size | 13,200 SF |
| Sale Type | Investment | Total Land Area | 0.12 AC |
| Status | Active |
| Price | $10,000,000 |
| Price / SF | $757.58 / SF |
| Cap Rate | 5.76% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 13,200 SF |
| Total Land Area | 0.12 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 2393 Frederick Douglass Blvd, New York, NY 10027 | Multifamily | 4,775 SF | 1901 | - |
| 2391 8th Ave, New York, NY 10027 | Retail | 5,249 SF | 1988 | - |
| 303 W 128th St, New York, NY 10027 | Retail | 3,176 SF | 1900 | - |
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Kervin Vales -
Halstead Property LLC
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MIXED-USE APARTMENT BUILDINGS FOR SALE
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