Building & Unit Features
This is a VACANT SRO with a CONH (Certificate of No-Harassment) ALREADY IN PLACE!
As currently built, there is approximately ~ 3400 sf of livable space, plus a large back yard that could be transformed into a spectacular garden space, or use the extra space for an extension. Approximately 3000 to 4000 sf of additional FAR are available (confirm with your architect).
For the individual / family: build a duplex or triplex to live in with additional rental units to offset your cost of living and expenses and increase the investment value of the property. Easily convertible into a 2-Family or 3-Family.
For the investor: there is plenty of potential to renovate this vacant townhouse as it can easily be transformed into:
Six to eight Columbia or City College studio / 1-bedroom rental units, or
A luxury rental building consisting of 1-bedrooms or combination of 1s and a duplex, or
Luxury Condominiums, or
Converted to a single or multi-family home and re-sold to an end user.
Recent Comps in the Area:
369 West 120th St. sold for $2,999,999 in June 2013
13 West 122nd St. sold for $2,550,000 in April 2014 (factor in this being discount for being a 3-family)
208 West 122nd St. sold for $2,850,000 in August 2014
10 West 123rd St. sold for $2,576,269 in July 2014
2069 Fifth Ave. sold for $3,335,000 in August 2014
This building is situated near the Mount Morris Park Historic District and Morningside Park Area giving you Harlem's most desired location and request "South of 125th St. and West of 5th Ave". This home is located in a prime spot with plenty of food, entertainment and transportation all within walking distance. Jado Sushi, Settepani, Red Rooster, Corner Social, Joe's Crab Shack, and The Apollo Theater are all withing a short walk and coming soon, Whole Foods! For Transportation you can find the A,B,C,D trains at 125th Street and Manhattan Ave. as well as the 2,3 express trains at 125th And Lenox Avenue; you can be in midtown in minutes!
Some Market Rate Rents in the Area:
1-bedrooms ~ $2500 - $2700
2-bedrooms ~ $2800 - $3200
Duplexes ~ $3500 - $4000
Triplex ~ $5500 - $7000
** prices can vary based on number of bathrooms, outdoor space, washer dryer, utilities, etc.
Some additional information on this property is as follows:
Lot: 17' x 100.92'
Lot s.f. ~ 1716'
Building: 17' x 50'
Building s.f. ~ 3400
FAR as built: 1.49
Max FAR (4.0) s.f.: ~ 6864 s.f.
Current Property Tax Bill: $17,040
Year Built circa 1910
School District 3
**All information including square footage is gathered from a third-party source and is deemed reliable. We advise that you have your own experts, advisors, and/or consultants do independent verifications.