188 St Nicholas Ave, New York, NY 10026
42 Unit Apartment Building | $9,500,000 ($226,190/Unit) | New York, NY 10026
For Sale
Active
Asking Price $9,500,000
- Property Type
-
Multifamily
- Square Feet
- 67,949 SF
Listing Contacts
Chris Varjan
Jonathan Braun
George Steffani
Kjersten Angell
- Property Info
Property Overview
Lee & Associates is pleased to present the sale for the multifamily building located at 188 Saint Nicholas Avenue (“the Property). Located on the corner of St. Nicholas Avenue and West 120th Street, the building consists of 42 residential units. Of the 42 units, approximately 33% are free market with the remaining 67% subject to rent regulation. The Property represents the opportunity to acquire a stable cashflowing asset with upside potential in the short term through unit renovations and long-term rental appreciation for larger units in the Harlem market.
Property Details
- Class
- C
- Year Built
- 1920
- Stories
- 7
- Lot Size (sq. ft)
- 16,988 SF
- Units
- 42
Highlights
- Corner elevator building allows for fantastic light and air throughout
- 5 blocks from the retail epicenter of Harlem at 125th Street
- Value-add potential through renovation of free market units and existing vacancy in the building
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