Vacant Multifamily Building in West Harlem

$2,450,000
550 West 149th Street, Upper Manhattan, NY
Price: $2,450,000
Building Type: Multifamily Building
Lot Sq Ft 1699
Lot Dimensions 17' x 99.92'
Zoning: R6A
Stories: 5
Residential Units: 9
Neighborhood: Hamilton Heigts
Cross Street: Amsterdam Avenue & Broadway

About this property

ONE Commercial Realty Services has been retained on an exclusive basis for the sale of 550 West 149th Street. The subject property is a vacant nine (9) unit SRO, delivered with a certificate of non-harassment, located in the coveted Hamilton Heights area of West Harlem. The property boasts original details that a homebuyer will fall in love with—an interior that is full of seven (7) decorative fireplaces and woodwork from the early 19th Century. Investors have the opportunity to upgrade the existing units and achieve rents at $55.00 a net sq. ft. Alternatively, an end-user can occupy the renovated garden floor with private access to their own 850 sq. ft. backyard and receive strong cash flow by renting out the other units in the building.

The property is within walking distance to the 1 subway line at 145th Street and Broadway as well as the A, B, C & D subway lines at 145th Street and Saint Nicholas Avenue. Future ownership can take advantage of a number of national and local retailers on Broadway, including, among others, Harlem Public, The Chipped Cup, The Handpulled Noodle, The Honeywell, Mamasushi, Subway, Duane Reade, Chase Bank, Sprint, McDonald’s, Footlocker, AT&T, GNC & New York Sports Club. The property also benefits from its proximity to major academic institutions, such as Columbia University and its $6.3 billion Manhatanville Expansion Project, and City College of New York.

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