247 West 139th Street,
About this property
and Eighth Avenues, Striver’s Row is located in one of the most picturesque sections of Harlem where famous musicians share blocks with well-heeled doctors and financiers. The area is one of few in the city with back alleys situated behind a row of gorgeous Georgian-style townhouses, many of which have their own private garages adding what many believe to be 20%-25% of value to the asset. 247 West 139th Street boasts 19’ of frontage and is currently configured as a twelve (12) unit SRO multifamily building. Once vacant, this represents an incredible opportunity for a 1-4 family conversion where an end user can live and/or collect income. Investors can increase the rents that are currently at $20.52/SF, in a market that can easily achieve $50/SF. The townhouse was designed in 1890 by renowned architect at the time Stanford White of McKim, Mead and White. With exposure to light and air on three sides, this property allows for tremendous natural light in each unit. The property is situated a short walk from both the B & C subway lines at 135th Street and Saint Nicholas Avenue and the 1 & 2 subway lines at 135th Street and Lenox Avenue. Residents can also take advantage of a number of national retailers on 145th Street, including, among others, Starbucks, Duane Reade, Chase Bank, and New York Sports Club, as well as local restaurant favorites such as Red Rooster, Harlem Tavern and Corner Social. The property also benefits from its proximity to major academic institutions, such as Columbia University and its Manhatanville Expansion Project and City College of New York. 247 West 139th Street represents a prime opportunity for investors and owner-users alike to acquire this rare jewel in Harlem’s most prestigious historic district. DHCRs are available upon request as are the rules/regulations surrounding owner-occupied destabilization.