For investors, over $162k in annual rent roll within 2018.
2018 NOI = $140,000 annual cash profit after property taxes, maintenance, and property management fee. Includes 4 independent residential rental units, separately metered for utilities.
Building Description: Multi-Family QUADPLEX for sale at West 140th St. and Amsterdam Ave, Manhattan, NYC! Built in 1920 this Massive Landmarked Building is 18' +/- feet wide, 72' +/- feet built (18’ x 100' ft. lot size)! Perfect opportunity for the homebuyer that likes BIG homes!
Over 5,000 square feet located in the protected enclave of Hamilton Heights Historic District, just south of legendary Sugar Hill, the building sits directly across the street from the City College of New York (CCNY) campus. Offering some of the best vistas in the city from street level, the beautiful hilly area was first selected by Alexander Hamilton over 200 years ago (the Hamilton Grange Mansion still sits just one block from the building). Other nearby attractions include The Harlem School of the Arts, The High School for Math, Science and Engineering catering to gifted students from across the five boroughs, and the serene St. Nicholas Park just one block east.
The 4-floor building can be converted to a grand single-family home. It is currently configured as 5,184 +/- SF over four (4) residential units: One 3-Bedroom / 2-Bathroom Duplex, two 2-Bedroom / 2-Bathroom floor-through apts, and one 1-Bedroom / 1-Bathroom. All four apartments include the highly desirable amenities: private outdoor space, washer/dryer, renovated kitchens and bathrooms, hardwood flooring, and abundant closet space throughout (see floor plans). Classic high ceilings provide a loft feeling and outstanding views of the historic surroundings and architecture. New roof recently installed.
Includes air rights to unused buildable space (1,511 SF), of which approximately 500 SF can be built as a penthouse (according to NYC DOB rules in the Hamilton Historic district). Air rights can be sold to a neighboring lot if that future opportunity arises...
...or build your own penthouse, add a huge hot tub on the roof, then kick back and relax as the rent checks come in!
Modern and abundant living conveniences surround the building's block, along with trendy restaurants and new nightlife. There is a massive expansion of Columbia University underway just ten blocks south.
Nearby Riverbank State Park is a very well-maintained 28 acres on the Hudson river that includes an Olympic-size pool, year-round skating rink, tennis and basketball courts, softball and football/soccer fields and a 400-meter running track.
The building is easily accessible by Subways 1,A,B,C,D and MTA Bus Lines M3, M4, M5, M10, M11, M100, M101, Bx6, Bx6 SBS, Bx19, Bx33.
Notable Hamilton Heights residents have included Norman Rockwell, Duke Ellington, Oscar Hammerstein, and Alexander Hamilton.
“Welcome to the second renaissance of Harlem!” -LL Cool J, March 2015.