214 East 111 Street

For Sale - Manhattan - East Harlem

$2,550,000

Net Operating Income: $184,206

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Key Details

Property Type
Mixed Use
Neighborhood
East Harlem
Property Dimensions
25.0 x 60.0
Property Area
6,092 sq.ft.
Total Units:
9
Stories:
4
NOI
$184,206
Price
$2,550,000

Listing Description

Building will be delivered out of AEP (owner already removed a substantial amount of violations). It will be delivered with a new roof and upgraded electric system. Some tenants are not the original ones on the DHCR. Ownership didn’t receive any rents this year, and they intend to start no payment and tenant cases after the renovation is done.
 
I-card has building registered as a 6-family but there are 7 units in the building. The best suggested use would be to convert the additional unit and the 2 stores on the ground floor into 4 apartments, thus creating a 10-family.

Property Details

Block/Lot:
01660/0042
Lot Dimensions
25.0 x 100.92
Lot Area
2,523 sq.ft
Zoning:
R7A
FAR as Built:
2.41
Max FAR:
4.0
EPIC Commercial Realty
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