6 3836 $32 Central Harlem - Agorafy
Theinformationcontainedhereinhaseitherbeengiventousbytheownerofthepropertyorobtainedfromsourcesthatwedeemreliable.Wehavenoreasontodoubtitsaccuracybutwedonotguaranteetheaccuracyofany information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein. June 3, 2015 10:02 AM
53 West 127th Street, New York, NY 10027 Four (4) Story, 6 Unit Central Harlem Townhouse | FOR SALE
6
3,836
Units
$32
Gross SF
Central Harlem
$/SF Operating Rents
Location
Property Information Address
53 West 127th Street, New York, NY 10027
Location
North side of 127th Street between Malcolm X Boulevard and 5th Avenue
Block / Lot
1725 / 114
Stories
4
Total Number of Units
6
Zoning (FAR)
R7-2
Lot Dimensions
17.75' x 99.92'
Lot Size
1,774
Building Dimensions
17.75' x 56'
Building Size
3,836
Sq. Ft. (Approx.)
Air Rights
3,225
Sq. Ft. (Approx.)
Assessment (15/16)
$45,852
Taxes (15/16)
$5,894
(3.44) Sq. Ft. (Approx.)
Property Description Ariel Property Advisors presents 53 West 127th Street, an 18’ wide, four (4) story townhouse located on the north side of West 127th Street between Lenox and 5th Avenue in Central Harlem. The 18’ x 56’ four-story walk-up spans 3,836 gross square feet and is comprised of six (6) residential units. The R7-2 zoning permits approximately 6,103 of total buildable square feet or 3,225 square feet of additional air rights above the existing structure. Of the six (6) apartments, two (2) are two-bedroom-two bathroom apartments and four (4) are one-bedroom apartments. The building, currently operating at $33 per square foot, contains two rent stabilized units, one of which has a significant preferential rent, with the rest of the units free market. Located just two blocks from the rapidly redeveloping 125th Street retail corridor, 53 West 127th Street is surrounded by recent and upcoming developments. These include The Aloft Hotel, Harlem USA, The Victoria Theatre Development, the Taystee Building, and the future Whole Foods just two blocks away at the corner of 125th Street and Lenox. The asset is also within close proximity to Columbia University and the City College of New York. Local landmarks include Morningside Park and Marcus Garvey Park, which lay just a few blocks south from the asset. Residents are in close proximity to several different transportation options as the property is situated just two and a half blocks from the 2 / 3 Train at the corner of 125th Street and Lenox Avenue, five blocks from the Metro North Station at East 125th Street and Park Avenue, and six blocks from the 4 / 5 / 6 Train at 125th Street and Lexington Avenue. With its prime location, significant rental upside, and future conversion upside, 53 West 127th Street presents investors and owner-users with an opportunity to own and capitalize upon a stable cash-flowing asset in the rapidly growing and redeveloping Central Harlem.
EXPENSES: (ESTIMATED) Real Estate Taxes (15/16)
$5,894
Laundry Reimbursement
($960)
Water & Sewer
$2,800
Insurance
$2,874
Fuel
$3,832
Electric
$1,341
Repairs, Cleaning, & Maintenance
$2,400
Management, Payroll, & Legal
$4,817
Gross Operating Expenses
$22,998
Current Roll Scheduled Gross Income
$122,256
Less Vacancy Rate Reserve (1.5%):
($1,834)
Gross Operating Income:
$120,422
Less Expenses:
($22,998)
19%
% of SGI
$97,424
4.43%
Cap Rate
Net Operating Income:
Asking Price: $2,200,000 For More Information Please Contact Our Exclusive Sales Agents Victor Sozio
Jesse Deutch
Josh Berkowitz
Matthew Gillis
Sam Atlas
212.544.9500 x.12
212.544.9500 x18
212.544.9500 x41
212.544.9500 x42
212.544.9500 x48
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
Ariel Property Advisors | Building Results | 122 East 42nd Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com
Theinformationcontainedhereinhaseitherbeengiventousbytheownerofthepropertyorobtainedfromsourcesthatwedeemreliable.Wehavenoreasontodoubtitsaccuracybutwedonotguaranteetheaccuracyofany information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein. June 3, 2015 10:02 AM
53 West 127th Street, New York, NY 10027 Four (4) Story, 6 Unit Central Harlem Townhouse | FOR SALE Schedule Income Unit
Bed/Bath
Unit Size
Unit Status
Actual/Projected
Monthly Rent
Lease Expiration
1FR
2/2
875
FM
Actual
$2,650
11/30/2015
2FR
2/2
850
FM
Actual
$2,800
4/30/2016
3F
1/1
450
RS
Actual
$268
1/31/2016
3R
1/1
450
FM
Actual
$1,400
5/31/2016
4F
1/1
450
FM
Projected
$1,750
-
4R
1/1
450
RS
Actual
$1,320
2/28/2016
Gross Monthly Rent
$10,188
Adjusted Gross Annual Rent
$122,256
Number of Units
6
Tax Map
W 145 ST
1
W 147 ST
GE RID 2 ST B 145 Bx19 to Botanical
W 146 ST Bx
19
W 145 ST
West 127th Street
Bx
11 19
7 102
5th Avenue
EDGECOMBE AV
BRADHURST AV
FREDERICK DOUGLASS BLVD
AMSTERDAM AV
114
B D
DR
1
Bx
19
3
ER
A C
Harlem 148 St
W 150 ST
RIV
145 ST
EM
W 147 ST
RL
3
1725 HA
S AV
W 150 ST
JACKIE ROBINSON PARK
HOLA
BROADWAY
ST NIC
Malcom X Boulevard
West 128th Street
3
Garden via Southern Blvd
145 ST
W 143 ST
D
B C
[email protected]
OF ST JOHN THE DIVINE 212.544.9500 MO
[email protected]
1
R DE D
212.544.9500 x18
Cathedral Pkwy (110 St)
3
2 3
4
x41
116 ST
6 116 102
GE
98 101
EAST HARLEM E 116 ST
116
102
1
Cathedral Pkwy (110 St)
B C
1
Matthew Gillis W 112 ST
Sam Atlas
Central Park North (110 St)
2 3 212.544.9500 x42 2
E 110 ST
212.544.9500 x48
[email protected] [email protected] CENTRAL PARKDANA DISCOVERY CENTRAL NORTH Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com
[email protected]
Ariel Property Advisors | Building Results | 122 East 42nd
100
E 120 ST
W 116 ST
2
7
116
Josh Berkowitz CATHEDRAL GSI RNIN
212.544.9500 x.12
W 113 ST
BROADWAY
Jesse Deutch
RO
E 125 ST
AV
Victor Sozio
15
101 103
W 116 ST PARK For More Information Please Contact Our Exclusive Sales Agents 116 St Columbia University
35
E 126 ST
E 124 ST
116 St
AS
MORNINGSIDE
116 St
OL
1
Bx
15 35
103
MADISON AV
FREDERICK DOUGLASS BLVD
CH NI
Asking Price: $2,200,000 W 116 ST
6
MARCUS GARVEY PARK
OLAS AV
AMSTERDAM AV
ST NICH
ST
COLUMBIA UNIVERSITY
VB RID LLI
W 122 ST
60
4 5
1 AV
STUDIO MUSEUM IN HARLEM
11 60 3
98
125 St
100 101
DR MARTIN LUTHER KING BLVD
10
W 120 ST
Bx
60 15
2 3
Bx
4 104
GE
125 ST
60 15 100 101
MORNINGSIDE AV
GRANT’S TOMB
APOLLO THEATRE
B D 125 ST
BLV
BROADWAY
CLARENONT AV
5
ING
METRO NORTH
A C
104
ER K
Bx
15
98
WI
104 Bx
15 MAR 15 TIN LUT H
1
Subject Property
Bx15 from Fordham Plaza
3 AV
DR
1
W 130 ST
LEXINGTON AV
1
135 ST
HARLEM
W 129 ST
THE BRO
33
2 3
PARK AV
125 ST
6
Bx
SA
W 131 ST
5 W 135 ST
2 AV
11
MANHATTAN AV
RIVERSIDE DR
100 101
5
5
ST NICHOLAS PARK
TH
NOR 4
RID
33
W 135 ST
SCHOMBURG CENTRE
RO
MET
Bx
33
VB
WESLEY WILLIAMS PL
Bx
1
W 137 ST
3A
CITY COLLEGE
ISO MAD
5 AV
137 ST CITY COLLEGE
135 ST B C
E
IDG
V BR
NA
W 139 ST
W 139 ST
MT MORRIS PARK W
CONVENT AV
PL ILTO N HAM
1
Location map OLAS AV
W 137 ST
ST NICH
3d View
102 7
2
10
100 101
LENOX AV
5
ADAM CLAYTON POWELL JR BLVD (7 AVENUE)
4
11
RIVERBANK STATE PARK
6
110 ST
JEFFERSO PARK
E 112 ST 15
E 110 ST 15
53 West 127th Street, New York, NY 10027 Four (4) Story, 6 Unit Central Harlem Townhouse | FOR SALE
6
3,836
Units
$32
Gross SF
Central Harlem
$/SF Operating Rents
Location
Property Information Address
53 West 127th Street, New York, NY 10027
Location
North side of 127th Street between Malcolm X Boulevard and 5th Avenue
Block / Lot
1725 / 114
Stories
4
Total Number of Units
6
Zoning (FAR)
R7-2
Lot Dimensions
17.75' x 99.92'
Lot Size
1,774
Building Dimensions
17.75' x 56'
Building Size
3,836
Sq. Ft. (Approx.)
Air Rights
3,225
Sq. Ft. (Approx.)
Assessment (15/16)
$45,852
Taxes (15/16)
$5,894
(3.44) Sq. Ft. (Approx.)
Property Description Ariel Property Advisors presents 53 West 127th Street, an 18’ wide, four (4) story townhouse located on the north side of West 127th Street between Lenox and 5th Avenue in Central Harlem. The 18’ x 56’ four-story walk-up spans 3,836 gross square feet and is comprised of six (6) residential units. The R7-2 zoning permits approximately 6,103 of total buildable square feet or 3,225 square feet of additional air rights above the existing structure. Of the six (6) apartments, two (2) are two-bedroom-two bathroom apartments and four (4) are one-bedroom apartments. The building, currently operating at $33 per square foot, contains two rent stabilized units, one of which has a significant preferential rent, with the rest of the units free market. Located just two blocks from the rapidly redeveloping 125th Street retail corridor, 53 West 127th Street is surrounded by recent and upcoming developments. These include The Aloft Hotel, Harlem USA, The Victoria Theatre Development, the Taystee Building, and the future Whole Foods just two blocks away at the corner of 125th Street and Lenox. The asset is also within close proximity to Columbia University and the City College of New York. Local landmarks include Morningside Park and Marcus Garvey Park, which lay just a few blocks south from the asset. Residents are in close proximity to several different transportation options as the property is situated just two and a half blocks from the 2 / 3 Train at the corner of 125th Street and Lenox Avenue, five blocks from the Metro North Station at East 125th Street and Park Avenue, and six blocks from the 4 / 5 / 6 Train at 125th Street and Lexington Avenue. With its prime location, significant rental upside, and future conversion upside, 53 West 127th Street presents investors and owner-users with an opportunity to own and capitalize upon a stable cash-flowing asset in the rapidly growing and redeveloping Central Harlem.
EXPENSES: (ESTIMATED) Real Estate Taxes (15/16)
$5,894
Laundry Reimbursement
($960)
Water & Sewer
$2,800
Insurance
$2,874
Fuel
$3,832
Electric
$1,341
Repairs, Cleaning, & Maintenance
$2,400
Management, Payroll, & Legal
$4,817
Gross Operating Expenses
$22,998
Current Roll Scheduled Gross Income
$122,256
Less Vacancy Rate Reserve (1.5%):
($1,834)
Gross Operating Income:
$120,422
Less Expenses:
($22,998)
19%
% of SGI
$97,424
4.43%
Cap Rate
Net Operating Income:
Asking Price: $2,200,000 For More Information Please Contact Our Exclusive Sales Agents Victor Sozio
Jesse Deutch
Josh Berkowitz
Matthew Gillis
Sam Atlas
212.544.9500 x.12
212.544.9500 x18
212.544.9500 x41
212.544.9500 x42
212.544.9500 x48
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
Ariel Property Advisors | Building Results | 122 East 42nd Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com
Theinformationcontainedhereinhaseitherbeengiventousbytheownerofthepropertyorobtainedfromsourcesthatwedeemreliable.Wehavenoreasontodoubtitsaccuracybutwedonotguaranteetheaccuracyofany information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein. June 3, 2015 10:02 AM
53 West 127th Street, New York, NY 10027 Four (4) Story, 6 Unit Central Harlem Townhouse | FOR SALE Schedule Income Unit
Bed/Bath
Unit Size
Unit Status
Actual/Projected
Monthly Rent
Lease Expiration
1FR
2/2
875
FM
Actual
$2,650
11/30/2015
2FR
2/2
850
FM
Actual
$2,800
4/30/2016
3F
1/1
450
RS
Actual
$268
1/31/2016
3R
1/1
450
FM
Actual
$1,400
5/31/2016
4F
1/1
450
FM
Projected
$1,750
-
4R
1/1
450
RS
Actual
$1,320
2/28/2016
Gross Monthly Rent
$10,188
Adjusted Gross Annual Rent
$122,256
Number of Units
6
Tax Map
W 145 ST
1
W 147 ST
GE RID 2 ST B 145 Bx19 to Botanical
W 146 ST Bx
19
W 145 ST
West 127th Street
Bx
11 19
7 102
5th Avenue
EDGECOMBE AV
BRADHURST AV
FREDERICK DOUGLASS BLVD
AMSTERDAM AV
114
B D
DR
1
Bx
19
3
ER
A C
Harlem 148 St
W 150 ST
RIV
145 ST
EM
W 147 ST
RL
3
1725 HA
S AV
W 150 ST
JACKIE ROBINSON PARK
HOLA
BROADWAY
ST NIC
Malcom X Boulevard
West 128th Street
3
Garden via Southern Blvd
145 ST
W 143 ST
D
B C
[email protected]
OF ST JOHN THE DIVINE 212.544.9500 MO
[email protected]
1
R DE D
212.544.9500 x18
Cathedral Pkwy (110 St)
3
2 3
4
x41
116 ST
6 116 102
GE
98 101
EAST HARLEM E 116 ST
116
102
1
Cathedral Pkwy (110 St)
B C
1
Matthew Gillis W 112 ST
Sam Atlas
Central Park North (110 St)
2 3 212.544.9500 x42 2
E 110 ST
212.544.9500 x48
[email protected] [email protected] CENTRAL PARKDANA DISCOVERY CENTRAL NORTH Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com
[email protected]
Ariel Property Advisors | Building Results | 122 East 42nd
100
E 120 ST
W 116 ST
2
7
116
Josh Berkowitz CATHEDRAL GSI RNIN
212.544.9500 x.12
W 113 ST
BROADWAY
Jesse Deutch
RO
E 125 ST
AV
Victor Sozio
15
101 103
W 116 ST PARK For More Information Please Contact Our Exclusive Sales Agents 116 St Columbia University
35
E 126 ST
E 124 ST
116 St
AS
MORNINGSIDE
116 St
OL
1
Bx
15 35
103
MADISON AV
FREDERICK DOUGLASS BLVD
CH NI
Asking Price: $2,200,000 W 116 ST
6
MARCUS GARVEY PARK
OLAS AV
AMSTERDAM AV
ST NICH
ST
COLUMBIA UNIVERSITY
VB RID LLI
W 122 ST
60
4 5
1 AV
STUDIO MUSEUM IN HARLEM
11 60 3
98
125 St
100 101
DR MARTIN LUTHER KING BLVD
10
W 120 ST
Bx
60 15
2 3
Bx
4 104
GE
125 ST
60 15 100 101
MORNINGSIDE AV
GRANT’S TOMB
APOLLO THEATRE
B D 125 ST
BLV
BROADWAY
CLARENONT AV
5
ING
METRO NORTH
A C
104
ER K
Bx
15
98
WI
104 Bx
15 MAR 15 TIN LUT H
1
Subject Property
Bx15 from Fordham Plaza
3 AV
DR
1
W 130 ST
LEXINGTON AV
1
135 ST
HARLEM
W 129 ST
THE BRO
33
2 3
PARK AV
125 ST
6
Bx
SA
W 131 ST
5 W 135 ST
2 AV
11
MANHATTAN AV
RIVERSIDE DR
100 101
5
5
ST NICHOLAS PARK
TH
NOR 4
RID
33
W 135 ST
SCHOMBURG CENTRE
RO
MET
Bx
33
VB
WESLEY WILLIAMS PL
Bx
1
W 137 ST
3A
CITY COLLEGE
ISO MAD
5 AV
137 ST CITY COLLEGE
135 ST B C
E
IDG
V BR
NA
W 139 ST
W 139 ST
MT MORRIS PARK W
CONVENT AV
PL ILTO N HAM
1
Location map OLAS AV
W 137 ST
ST NICH
3d View
102 7
2
10
100 101
LENOX AV
5
ADAM CLAYTON POWELL JR BLVD (7 AVENUE)
4
11
RIVERBANK STATE PARK
6
110 ST
JEFFERSO PARK
E 112 ST 15
E 110 ST 15
