Cushman & Wakefield has been retained on an exclusive basis for the sale of 114 Edgecombe Avenue between West 139th Street and West 140th Street, a unique opportunity to own an approximately 4,100 sq. ft. pre-war single-family townhouse with 17.5 of frontage. The building has five original fireplaces, claw foot tubs and woodwork from the early twentieth century as well as a 1,000 sq. ft. basement that has a separate front entrance and natural light & air from windows situated in both the front and back. In addition, a cut-out on the northern side allows the building to receive natural light from three different directions with windows that overlook large stained-glass windows of the church next door. Furthermore, the house was completely repainted with re-sanded flooring and upgraded heating and electrical systems. The home also boasts a full four-story extension in the front and back adding a grander feel and flexibility for improved layouts of the space. The townhouse has its own washer/dryer in a mud room leading to an exclusive private backyard. The subject property is an ideal opportunity for a two/three family conversion or, alternatively, a condominium conversion. While awaiting for approved plans, future ownership could take advantage of the approximately $7,000 monthly income (i.e., 3% cap rate) from the current tenant until April 30, 2018 when the lease expires. Current ownership has fully detailed architectural plans that have been developed by the award-winning Lang Architecture for the complete modernization of the asset, including upgraded layouts with material specifications. The plans are available upon request. Additionally, the adjacent property located on 112 Edgecombe Avenue is on the market and, if acquired with 114 Edgecombe Avenue, amounts to properties totaling 7,700 sq. ft., 34 feet of frontage and 3,981 sq. ft. of available air rights. The townhouses benefit from the presence of local and national retailers, including, among others, Manhattanville Coffee, The Edge, Starbucks, Duane Reade and New York Sports Club, and are just steps away from City College and the B & C subway lines on West 137th Street and St. Nicholas Avenue.
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