Listed by RIPCO Real Estate
Unpriced
2114-2116 5th Avenue
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 10,384
Units 33
Price per SqFt $144
Class A
Year Built 1910
Year Renovated 1987
Buildings 1
Stories 5
Lot Size (SqFt) 2,504
Zoning R7-2
Investment Type Value Add
SRO Building Delivered Vacant | 33 Units | Harlem
Marketing description
2114-2116 5th Avenue is a 33 unit single room occupancy residential building that presents a compelling opportunity for investors seeking exposure to a residential conversion strategy in Upper Manhattan. The existing SRO asset is to be delivered vacant for the investor. This allows for multiple potential repositioning uses, including a Class A apartments, condominiums, and townhouse strategy through conversion or redevelopment within a clearly defined regulatory framework. Situated along Fifth Avenue within the Harlem submarket, the Property benefits from strong neighborhood fundamentals, including proximity to mass transit, established residential density, and continued demand for apartment housing in Upper Manhattan.
Investment highlights
- Residential Conversion Optionality 33 unit SRO residential building that offers groundwork potential for Class A apartment, condominium, or townhouse conversion.
- Building Metrics The property provides 10,384 above grade SF, and 33' wide frontage x 64' for the 33-unit, 5 story building.
- Demand in Housing Market Harlem and Upper Manhattan continue to demonstrate sustained demand for the residential housing options provided by asset.
- Harlem Corridor Location Situated along Fifth Avenue within the Harlem submarket, benefiting from strong transit access, neighborhood amenities, and long term residential demand.
- Proximity to Regional Transit Hub Located near Harlem 125th Street station, providing access to multiple subway lines, Metro North service, and regional connectivity that supports renter demand and investment durability.
Listing Contacts
Listed by RIPCO Real Estate
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