1980 2Nd AveNew York, NY 10029

For Sale
Call for price

Prime East Harlem Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional East Harlem investment opportunity presents a portfolio of four mixed-use buildings totaling 50,000 square feet at 1980 2nd Ave, New York, NY 10029. The portfolio comprises 44 residential units and significant commercial space, generating a strong Net Operating Income (NOI) of $1,775,000. Situated on a 17,860 square foot lot, this property offers substantial upside potential. A key advantage is the inclusion of over 58,200 square feet of unused air rights, allowing for considerable expansion and development. The buildings are conveniently located within walking distance of parks, markets, bars, and restaurants, benefiting from the vibrant East Harlem community. This stabilized investment presents a rare chance to acquire a significant multifamily portfolio in a rapidly developing area of New York City. The portfolio's strong cash flow, combined with the substantial air rights, makes it an attractive proposition for both seasoned investors and developers seeking to capitalize on the area's growth. This is a unique opportunity to own a piece of Harlem's dynamic and diverse landscape.

Highlights

  • Stabilized multifamily investment opportunity in East Harlem, NYC.
  • Four-building portfolio totaling 50,000 square feet.
  • $1,775,000 Net Operating Income (NOI).
  • 44 residential units.
  • 17,860 square foot lot with 58,200 square feet of air rights.

Property Details for 1980 2Nd Ave

Property type
Other retail properties, Multifamily properties
Square Feet
50,000 SF
Buildings
4
Units
44

Location Insight

City
New York
County
New York
State
New York
Latitude
40.78795087
Longitude
-73.94442076
1980 2Nd Ave, New York, New York

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1980 2Nd Ave
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