HAP Portfolio

  • $130.5M
419 East 117th Street, New York, NY 10035, USA

HAP Portfolio

419 East 117th Street, New York, NY 10035, USA
  • $130.5M

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Title Property Type Price Beds Baths Property Size Availability Date
sqft

Description

Marketing Description
Avison Young has been engaged by ownership as the exclusive agent to sell 2211 Third Avenue in the East Harlem neighborhood of Manhattan. Located on the southeast corner of 3rd Avenue and East 121st Street, the property features 108 residential apartments, a community facility and a 60-spot garage across 123,835± gross square feet.
The apartments are comprised of 20 studio apartments, 31 one-bedroom apartments, and 57 two-bedroom apartments. Constructed in 2017, the building features state-of-the-art finishes, concierge service, gym, roof terrace, on-site parking, in-unit washer/dryers, and two elevators. 86 of the 108 units are market rate.
The property sits blocks from 125th Street, which is currently undergoing a revitalization project spearheaded by the New York City Economic Development Corporation. The project aims to transform 125th Street into a cultural and entertainment destination via a rezoning of the corridor. Combined with East Harlem’s residential feel and proximity to major commercial hubs, this major economic driver continues to attract residents and investors to the neighborhood. 2211 Third Avenue offers a potential investor the opportunity to generate future cash flow from one of Manhattan’s most sought-after locations.
2211 Third Avenue is being offered as part of a 171-unit, four-property portfolio.

Investment Highlights
New construction with contemporary finishes and contemporary amenities
108 residential units
The property will be in year 1 of a 25-year 421(a) tax abatement program beginning in July
Close proximity to the 2, 3, 4, 5 and 6 subway lines
Prime corner location
Blocks from the NYC Economic Development Corporation’s revitalization project along 125th Street

Details

Updated on July 29, 2019 at 1:10 pm
  • Property ID: 18722
  • Price: $130.5M
  • Property Size: 178687 sqft
  • Year Built: 2017
  • Property Type: Multi Family Home
  • Property Status: For Sale
  • Price Per/Sf: 730.33

Additional details

  • Property Type: Multifamily
  • Occupancy: 35%
  • Units: 171
  • Price/Unit: $763,157.89
  • Address 419 East 117th Street, New York, NY 10035, USA
  • City New York
  • State/county New York
  • Zip/Postal Code 10035

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What's Nearby?

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Contact Information

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James Nelson
  • James Nelson
  • 212.729.6585917.362.1485

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James Nelson
  • James Nelson