263 West 113 Street - Map blueView Map

For Sale - Manhattan - Harlem

$3,800,000

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Property Details:

Price: $3,800,000

Estimated Annual Income: $ Inquire

Property Type: Multi-Family

Lot Dimensions (ft): 18.0 x 100.92

Lot Area: 1,817 sq. ft.

Building Dimensions (ft): 18.0 x 50.0

Building Area: 3,600 sq. ft.

Building:

Block/Lot: 01829/0011

BIN: 1055143

Building Class: C5

Stories: 3

Total Units: 8

Corner Lot: No

Buildings on Lot: 1

Year Built: 1900

Landmark: none

Has Garage: no

Year Last Altered: 1997

Residential Units: 9

Residential Area: 2703 sq. ft.

Zoning: R7A

Floor Area Ratio:

Max FAR: 4.0

Useable Floor Area: 2,703 sq. ft.

FAR as Built: 1.49

Neighborhood:

Neighborhood: Harlem

Historic District: n/a

Community District: 110

School District: 3

Census Tract: 216

263 West 113 Street

Meridian Investment Sales is pleased to present the Exclusive Offering for 263 West 113th Street (the “Property”) – a recently gut renovated 8 family building. Located in West Harlem, the Property is situated just one block east of Morningside Park and Columbia University, and three blocks north of Central Park. Residents of the building will have excellent access to mass transportation, less than a 5 minute walk from the 116th Street transit corridor which provides access to the C, B, 2, 3, and 6 trains. Investors will have the immediate ability to commence lease-up of the vacant, turn-key building and generate excellent cash flow. The four story building consists of six one-bedroom and two studio apartments, and the two apartments on the ground floor contain direct access to the backyard garden. Zoned R7A, the building contains an approximate 3,668 square feet of as-of-right development rights which can potentially be utilized by a future investor to expand the building’s footprint or possibly sold to a neighboring site. The building benefits from the protective 2B Tax Class, which limits increases to Assessed Value at 8% per annum and no more than 30% every five years. There is an existing J-51 Exemption which is currently in year 20 of 34, which accounts for an approximate $5,196 tax benefit.

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