This HARLEM JEWEL is approximately 23,764 square feet of an income producing mixed-use commercial building in the heart of Harlem. The property is a 6 story walk-up building that is comprised of 33 residential apartments, 1 commercial space (restaurant), and 3 communication satellites on the roof. This outstanding opportunity is situated just one block north of the 2,3 train, blocks on Lenox Avenue and just minutes from Columbia University and the newly leased Whole Foods located on the next corner of 125th Street. Not to mention, having one of the HOTTEST Social Bars and Restaurants as a Commercial Tenant is indeed a plus, and across the street the Iconic Sylvia's Restaurant, RED ROOSTER, Chey Luene and directly next door the Newest Lounge, The Cove! Please see the attached Rent Roll and Expenses below. Building Overview Location: Upper Manhattan | Harlem Zoning District: C2-4/R7-2 Max Allowed FAR: 3.44 FAR as built: 5.08 Year Built: 1910 Stories: 6 Building Dimensions: 50' x 98' Lot Dimensions: 45.42' x 103' Building SF: 23,764 Residential Units: 33 Commercial Units: 1 Rent Roll: $1,095,092.88 Annum. Gross Expenses September 2014: $243,875.00 Net Operating Income: $827,235.00 Cap Rate: 3.5% As of 2015 is producing at a Cap Rate of 5% Buyer pays commission of 6%, NDA required and Proof of Funds are a strict requirement. Seller does not need to sell as building has exceeded expectations but if the Offer is SOLID Seller will SELL!
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