188 St Nicholas Ave - Apartments FOR SALE


New York, NY 10026
$9,500,000 USD
201-615-8557
188 St Nicholas Ave, New York, NY for Sale
$9,500,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

188 St Nicholas Ave
New York, NY 10026


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

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.

FOR SALE DETAILS

PRICE

$9,500,000 USD

PRICE/SF

$140 USD /SF

# OF UNITS

42

PRICE/UNIT

$226,190

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

7

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

17,110 SF

ZONING

R7A

APN/PARCEL ID

1925-0050

ASK ABOUT THIS PROPERTY

Chris VarjanLee & AssociatesMore Info
201-615-8557

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Chris VarjanLee & AssociatesMore Info
201-615-8557

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.