Harlem Five Portfolio

For Sale - 220-226 West 116th Street & 449 West 125th Street- Manhattan - Harlem

$30,000,000

Net Operating Income: $1,148,197

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Key Details

Property Type
Mixed Use
Neighborhood
Harlem
Property Dimensions
27.0 x 87.0
Property Area
46,080 sq.ft.
Total Units:
59
Stories:
6
NOI
$1,148,197
Price
$30,000,000

Listing Description

Avison Young, as exclusive agent, is pleased to offer for sale the Harlem FIve Portfolio, comprised of five walk-up residential buildings at 220-226 West 116th Street and 449 West 125th Street in Central Harlem.

Located between Frederick Douglass and Adam Clayton Power Jr. boulevards, 220-226 West 116th Street offers 105 feet of frontage across four buildings, 40 residential units and five ground-floor retail spaces. The properties are blocks from Central Park, Morningside Park, Columbia University’s main campus and the 125th Street corridor, a main cultural and retail destination in the heart of Harlem. Surrounded by popular local eateries and retail shops including Insomnia Cookies across the street, 220-226 West 116th Street is a short walk to the 2, 3, B and C train stations, which provide access to Midtown in 20 minutes and the City College of New York two stops away.

449 West 125th Street offers 40 feet of frontage on 125th Street between Amsterdam Avenue and Morningside Avenue, 17 walk- up residential units and two ground-floor retail units. Located blocks from Columbia University’s two campuses and the City College of New York, the property is an ideal location for students and is currently occupied with very strong rents. Surrounded by Morningside Park, Riverside Park and St. Nicholas Park, 449 West 125th Street offers great connectivity as it is only blocks from the 1, A, C, B and D trains.

The asking price is $30 million for the Harlem Five Portfolio, which is $480 per square foot and $508,000 per unit.

Property Details

Block/Lot:
1831, 1966/43, 46
Lot Dimensions
105.5 x 100.92
Lot Area
10,647 sq.ft
Zoning:
R7A
FAR as Built:
4.33
Max FAR:
4.0
Allan FriesAvison Young
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Sales & Transactions

AddressSale PriceSale DateProperty Type
2034 3 AVENUE$2,000,00007/26/2018Mixed Use
349 LENOX AVENUE$1,380,26307/03/2018Mixed Use
3430 BROADWAY$26,200,00006/26/2018Mixed Use
2280 7TH AVENUE$3,050,00006/18/2018Mixed Use
2266 1 AVENUE$2,369,57506/14/2018Mixed Use
54 WEST 125 STREET$26,500,00006/08/2018Mixed Use
2204 FREDERICK DOUGLASS B$3,855,00006/05/2018Mixed Use
455 LENOX AVENUE$4,150,00005/29/2018Mixed Use
2288 ADAM C POWELL BLVD$1,854,45004/10/2018Mixed Use
100 EAST 117 STREET$1,400,00003/21/2018Mixed Use