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Off market
  • $2,062,400

    1987 Madison Ave APT 1, New York, NY 10035

    6beds
    3,700sqft
    MultiFamily
    Built in 1905
    -- sqft lot
    $2,062,400 Zestimate®
    $557/sqft
    $4,338 Estimated rent

    Home value

    $2,062,400

    $1.75M - $2.43M

    $4,338/mo

    Zestimate® history
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    Owner options

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    $4,338/mo

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    $4,338/mo

    Rent Zestimate®

    Refinance and save

    $12,779/mo

    Est. payment

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    $12,779/mo

    Est. payment

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    What's special

    FYI: City records may show this building as an SRO; However, the property has been converted to a legal four family. City approved/stamped architectural plans, the Certificate of Non-Harassment and HPD conversion docs are available for approved buyers ready to close. This Harlem brownstone is great if you want to be a homeowner and/or landlord in one of New York Cities most exciting and diverse communities. Experience fast-paced, modern life in this beautifully preserved Harlem brownstone. Proudly standing on Madison Ave and 126th Street since the turn of the century, this three-story historic brownstone will feel like stepping back in time. This home is filled with architectural details one expects of the era including intricately carved moldings, abundant wainscoting, pier mirrors with carved details, original front doors, mahogany pocket doors, original dressing cabinets, wonderfully preserved decorative fireplaces, hard wood floors, 12 ft ceilings, and restored skylights. Electric and plumbing have been updated for today's modern conveniences including recessed lighting, master Jacuzzi bathtub, gourmet kitchen in the duplex unit, two full laundry rooms, and a private backyard ideal for entertaining or solitude. A spacious 19+ foot wide townhouse setup as a legal 4-family is ready for you to live in or rent out. The 4-units include an owner's duplex with backyard, and cellar. 2-oversized Studio apartments, and a simply gorgeous 1BR floor-through apartment. Ideal for an owner's residence, plus income-generating property. Convenient location in Harlem. Close to the 2, 3, 4, 5, 6 trains, and Metro-North train. On major bus lines. Near Bed Bath & Beyond, Whole Foods, Starbucks, AMC Magic Johnson Movie Theater, and Fairway Market. Good street parking. Note: As a homeowner, you can own more than 4500 square feet of indoor/outdoor living and comfort in Manhattan all to yourself to do as you wish or you can rent a portion of this legal 4 family property to tenants and cut your cost of high-end living in Manhattan in about half. For investors, current rents support the asking price when you consider the following: 1) air rights are included with this building so you can build-up thereby adding additional rental income 2) increasing Harlem/Manhattan rents 3) the near risk-free returns you could achieve (insurable risk reward) vs investing in 10/20/30 year treasuries and 4) long-term asset appreciation is almost sure to occur given the current depressed value of Harlem real estate vs the remainder of Manhattan. This property is for sale by owner; sorry, no brokers. PRE-APPROVED APPLICANTS ONLY PLEASE. Thanks. DISCLAIMER: This ENTIRE property is For Sale By Owner AT $4.25M. Therefore, any real estate brokers, agents and/or principles of such agencies or businesses or others acting on their behalf, are expressly prohibited from listing or making claims to represent the owner of this property. Listing this property for sale or viewing, by anyone other than the owner, will be construed as false advertising, false representation, unlawful claims and warrant(s) and breach of fiduciary responsibility. As such, legal action will be taken to remedy this issue. Thanks in advance for your cooperation.

    This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 6
    • Bathrooms: 5
    • Full bathrooms: 4
    • 1/2 bathrooms: 1
    Heating
    • Forced air, Electric, Gas
    Cooling
    • None
    Appliances
    • Included: Dryer, Microwave, Range / Oven, Refrigerator, Washer
    Features
    • Flooring: Tile, Hardwood, Laminate
    • Basement: Partially finished
    • Has fireplace: Yes
    Interior area
    • Total interior livable area: 3,700 sqft

    Property

    Parking
    • Parking features: On-street
    Features
    • Exterior features: Brick, Cement / Concrete
    • Has view: Yes
    • View description: Territorial
    Lot
    • Size: 1,440 Square Feet

    Construction

    Type & style
    • Home type: MultiFamily
    Materials
    • Roof: Composition
    Condition
    • Year built: 1905

    Community & HOA

    Community
    • Features: On Site Laundry Available
    Location
    • Region: New York

    Financial & listing details

    • Price per square foot: $557/sqft

    Price history

    DateEventPrice
    3/24/2021Listing removed--
    Source: Owner Report a problem
    10/24/2017Listing removed$4,250,000$1,149/sqft
    Source: Owner Report a problem
    6/29/2017Price change$4,250,000+28.8%$1,149/sqft
    Source: Owner Report a problem
    5/23/2017Listed for sale$3,300,000$892/sqft
    Source: Owner Report a problem
    8/13/2015Listing removed$3,590$1/sqft
    Source: Cooper Square Report a problem
    8/8/2015Price change$3,590-10%$1/sqft
    Source: Cooper Square Report a problem
    7/4/2015Listed for rent$3,990$1/sqft
    Source: Douglas Elliman #2154091 Report a problem

    Public tax history

    Tax history is unavailable.

    Neighborhood: Harlem

    Nearby schools

    GreatSchools rating