Citi Habitats has been retained on an exclusive basis to arrange the sale of 2159 5th Avenue, a 25' wide, 5 story walk-up building containing 14 apartments and 1 commercial unit. The property was completely renovated in 2012 and fully leased in 2013. The building has a 14 year J51 tax abatement due to expire in 2029 with a 100% abatement for the first 10 years. Of the 14 apartments, 1 is three-bedroom 1 is a studio and 12 are two-bedrooms. During the 2012 reconstruction, the entire building was rebuilt from a shell state including new roof, windows, all flooring and stair structures, electrical, plumbing and building systems. At the time of renovation, all apartments were furnished with hardwood flooring, new bathrooms, stainless steel kitchens, new cabinetry and wallboard. 2159 Fifth Avenue represents an excellent opportunity to purchase an occupied property currently benefiting from a significant tax reduction in a vibrant part of East Harlem
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