4 8 4500 turn-key central harlem
263 WEST 113TH STREET, NEW YORK, NY 10026 VACANT TURN-KEY, 8 UNIT MULTIFAMILY BUILDING | FOR SALE
4
Stories
8
Units
4,500 Gross SF
TURN-KEY
CENTRAL HARLEM
Condition
Location
Ariel Property Advisors presents 263 West 113th Street, an 18’ wide, four (4) story multifamily building located on West 113th Street just east of Fredrick Douglas Boulevard in Central Harlem. The property encompasses a total of 4,500 gross square feet, including 3,600 square feet of above grade space and 900 square feet of finished bonus/common space in the basement. This building was recently gut-renovated and now contains eight (8) residential units, with a unit mix of six (6) one-bedroom apartments and two (2) studio apartments. All units are in pristine, turn-key condition and feature high-end finishes unparalleled by other properties in the area. The rear garden-level apartment also enjoys exclusive backyard access, adding to the residential value of this building and making it ideal for owner-users. Additionally, the property will be delivered with 3,672 square feet of air rights, and given the original structural integrity of this property, can be fully utilized if desired. Located just three blocks from the B and C subway lines at Frederick Douglass Boulevard and West 110th Street, residents enjoy easy access throughout Manhattan and the outer boroughs. The property is just a three block walk from Central park and one block walk from Morningside Park. Columbia University is also just three blocks away, drawing countless students, faculty and young professionals to this area. With it’s turn-key condition in a prime location, which is now considered an extension of the Upper West Side, 263 West 113th Street offers investors a lease-up ready, cash-flowing opportunity.
PROPERTY INFORMATION Block / Lot Zoning FAR Lot Dimensions Lot Size Building Dimensions Building Size Buildable Sq. Ft. Air Rights Assessment (17/18) Taxes (17/18)
1829 / 11 R7A 4.0 18.02' x 100.92' 1,819 18.02' x 50' 4,500 7,272 3,672 $69,282 $8,932
as-of-right Sq. Ft. (Approx.) Sq. Ft. (Approx.) as-of-right as-of-right
ASKING PRICE: $3,600,000 FOR MORE INFORMATION PLEASE CONTACT OUR EXCLUSIVE SALES AGENTS AT 212.544.9500 I arielpa.nyc
FOR FINANCING INFO
Matthew L. Gillis x42
Paul McCormick x45
[email protected]
Victor Sozio x12
[email protected]
Michael A. Tortorici x13 [email protected]
Orry Michael x4002
[email protected]
[email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any 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. September 12, 2017 10:20 PM
BRIDGE BUS STATION
Bx
N AV INGTO WASH FORT
Bx
W 166 ST
7
2
W 165 ST 3
MORRIS-JUMEL MANSION
W 163 ST
M RIV
DR
3 100 101
1 W 157 ST
B D
Insurance Bx
6
BROADWAY
AMSTERDAM AV
3
$4,160
Management 135 ST WESLEY GROSS OPERATING WILLIAMS PL EXPENSES Bx
33
ST NICHOLAS PARK
11 60
BROADWAY
1
1
INGSI N MOR
Cathedral Pkwy (110 St)
B C
W 112 ST
Central Park North (110 St)
2 3 2
CENTRAL PARKDANA DISCOVERY CENTRAL NORTH HARLEM LASKER RINK
DUKE ELINGTON BLVD W 106 ST
1
E 110 ST
110 2
1
4
3
103 1
3
10
11
NORT MEADOW
W 100 ST
ASKING PRICE: $3,600,000
96 106
W 96 ST
96 ST
1
4 106
B C 96 ST
2
CENTRAL PARK
FOR MORE INFORMATION PLEASE CONTACT OUR EXCLUSIVE SALES AGENTS AT 212.544.9500 I arielpa.nyc
FOR FINANCING INFO
Matthew L. Gillis x42
Paul McCormick JEWISHx45 MUSEUM
[email protected]
Orry Michael x4002
[email protected] W 91 ST
CENTRAL PARK WEST
Michael A. Tortorici x13
BROADWAY
[email protected]
WESTEND AV
3
Victor Sozio x12
E 96 ST
96
[email protected] RESERVOIR
COLUMBUS AV
AMSTERDAM AV
COOPER-HEWITT MUSEUM NATIONAL The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. AsACADEMY an example, MUSEUM 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 GUGGENHEIM MUSEUM 86 income, and all other information contained herein. September 12, 2017 10:20 PM W 87 ST 104
86
3
96 106
W 97 ST
W 97 ST
1
86
MADISON AV
7
3
5 AV
RIVERSIDE DR
11
1
E 106 ST
4 106 7
2 4
MEER
MUSEO DEL BARRIO MUSEUO OF THE CITY OF NEW YORK
B C 103 ST
W 103 ST
103 ST
104
PARK AV
FREDERICK DOUGLASS BLVD
AMSTERDAM AV
R DE D
AV
Adam Clayton Powell Jr Boulevard
W 116 ST
2
7
116
116 10
W 104 ST
[email protected]
6
MARCUS GARVEY PARK
2 3
W 105 ST
W 101 ST
4
125
116 St
W 116 ST
4
60 116
B C
AS
11
METRO NORTH
116
7 116
RIVERSIDE PARK
116 St
OL
1
CH
Cathedral Pkwy (110 St)
W 103 ST
98
OLAS AV
CATHEDRAL OF ST JOHN THE DIVINE
3
NI
SUBJECT MORNINGSIDE PARKPROPERTY
W 113 ST
ST NICH
3
ST
1 116 St Columbia University
5
1
Bx
STUDIO MUSEUM IN HARLEM
W 122 ST
COLUMBIA UNIVERSITY
West 113th Street
1
W 130 ST
60 15 100 101
2 3
10
60
1829
Bx
33
Bx
W 120 ST
W 116 ST
33
60 15
4 104
West 114th Street
RO
MET
Bx
1
DR MARTIN LUTHER KING BLVD
MANHATTAN AV
GRANT’S TOMB
$6,251
$43,106
125 ST
100 101
MORNINGSIDE AV
5
5
S
D
MAD
135 ST
APOLLO THEATRE
B D 125 ST
BLV
BROADWAY
N
CLARENONT AV
North side of West 113th Street between Adam Clayton Powell Jr Boulevard & Frederick Douglas Boulevard
A C
104
ING
NA
ISO
W 137 ST
W 135 ST
2 3
HARLEM
104 Bx
ER K
SCHOMBURG CENTRE
B C
W 129 ST
15 MAR 15 TIN LUT H
$2,084 W 139 ST
W 139 ST
LOCATION MAP DR
102 7
Legal/Miscellaneous
W 131 ST
TAX MAP
Garden via Southern Blvd
2
10
11
1
GE RID 2 ST B 145 Bx19 to Botanical $3,400
Payroll
CONVENT AV
PL
ILTO N
HAM
RIVERSIDE DR
Bx
19
W 145 ST
145 ST
100 101
5
$2,700
1
W 146 ST
Repairs
W 145 ST
125 ST
Frederick Douglass Boulevard
EDGECOMBE AV
B D
100 101
W 137 ST
DR
5
4
ER RIV
11
A C
$2,000 W 143$2,300 ST $2,300 $2,300 $2,300 1 $2,300CITY 137 ST CITY COLLEGE COLLEGE $17,900 W 135 ST $214,800
Bx
11 19
3 7 102
OLAS AV
Projected Projected Projected RIVERBANK STATE PARK Projected Projected Projected
$1,080
EM
1
Bx
$4,500
Cleaning &WMaintenance 147 ST
3
W 147 ST 145 ST
Harlem 148 St
W 150 ST
ST NICH
Studio 1BR 1BR 1BR 1BR 1BR
$2,000 $2,400
$2,400
Bx6 to Hunts Pt Food Ctr via Yankee Stadium
RL HA
MONTHLY RENT
19
1F 1R 2F 2R 3F 3R TOTAL MONTHLY INCOME TOTAL ANNUAL INCOME
Electric
AV
Projected Projected
ROBINSON PARK
S HOLA
Studio 1BR
W 150 ST
98
Fuel JACKIE
ST NIC
ACTUAL/PROJECTED
B
PARK AV
DR
Garden F Garden R
NO. OF BEDROOMS
$7,600
D
S MB GE CO ID MA M BR A D
10
155 ST
SCHEDULED INCOME APT
Water & Sewer 2
6
TERRACE
$8,932
MADISON AV
SIDE
157 ST of SGI 20% WCap 155 ST Rate 4.59% AUDUBON C
Bx
Real Estate Taxes (17/18)
5 AV
IDE
MT MORRIS PARK W
ERS
EXPENSES: (ESTIMATED)
HARLE
RIV
168 ST Amsterdam Av
5
EDGECOMBE AV
$214,800 ($6,444) $208,356 ($43,106) $165,250
RIVER
Scheduled Gross Income: Less Vacancy Rate Reserve (3.00%): Gross Operating Income: Less Expenses: Net Operating Income:
4
ER D
C
LENOX AV
CURRENT ROLL
W 168 ST
ADAM CLAYTON POWELL JR BLVD (7 AVENUE)
DR IDE
ERS RIV
AV
101
1
A C Washington hts 168 St
BRADHURST AV
HAVEN
VACANT TURN-KEY, 8 UNIT MULTIFAMILY BUILDING | FOR SALE
HARLEM RIVER DR
7
FREDERICK DOUGLASS BLVD
5
100
RIVE
4
263 WEST 113TH STREET, NEW YORK, NY 10026
HIGHBRIDGE PARK
AMSTERDAM AV
WASHINGTON HEIGHTS
LITTLE RED LIGHTHOUSE
AY ADW BRO
HIN WAS
W 175 ST
ST NICHOLAS AV
E
RIDG
NB GTO
RGE
GEO
Farm Rd via 170 St Bx13 to Yankee Stadium via Odgen Av Bx35 to West Farms Rd via 167 St Bx36 to Olmstead Av/Randall Av via 180 St
3
A
AUDUBON AV
PARK
8
4 6
4
Stories
8
Units
4,500 Gross SF
TURN-KEY
CENTRAL HARLEM
Condition
Location
Ariel Property Advisors presents 263 West 113th Street, an 18’ wide, four (4) story multifamily building located on West 113th Street just east of Fredrick Douglas Boulevard in Central Harlem. The property encompasses a total of 4,500 gross square feet, including 3,600 square feet of above grade space and 900 square feet of finished bonus/common space in the basement. This building was recently gut-renovated and now contains eight (8) residential units, with a unit mix of six (6) one-bedroom apartments and two (2) studio apartments. All units are in pristine, turn-key condition and feature high-end finishes unparalleled by other properties in the area. The rear garden-level apartment also enjoys exclusive backyard access, adding to the residential value of this building and making it ideal for owner-users. Additionally, the property will be delivered with 3,672 square feet of air rights, and given the original structural integrity of this property, can be fully utilized if desired. Located just three blocks from the B and C subway lines at Frederick Douglass Boulevard and West 110th Street, residents enjoy easy access throughout Manhattan and the outer boroughs. The property is just a three block walk from Central park and one block walk from Morningside Park. Columbia University is also just three blocks away, drawing countless students, faculty and young professionals to this area. With it’s turn-key condition in a prime location, which is now considered an extension of the Upper West Side, 263 West 113th Street offers investors a lease-up ready, cash-flowing opportunity.
PROPERTY INFORMATION Block / Lot Zoning FAR Lot Dimensions Lot Size Building Dimensions Building Size Buildable Sq. Ft. Air Rights Assessment (17/18) Taxes (17/18)
1829 / 11 R7A 4.0 18.02' x 100.92' 1,819 18.02' x 50' 4,500 7,272 3,672 $69,282 $8,932
as-of-right Sq. Ft. (Approx.) Sq. Ft. (Approx.) as-of-right as-of-right
ASKING PRICE: $3,600,000 FOR MORE INFORMATION PLEASE CONTACT OUR EXCLUSIVE SALES AGENTS AT 212.544.9500 I arielpa.nyc
FOR FINANCING INFO
Matthew L. Gillis x42
Paul McCormick x45
[email protected]
Victor Sozio x12
[email protected]
Michael A. Tortorici x13 [email protected]
Orry Michael x4002
[email protected]
[email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any 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. September 12, 2017 10:20 PM
BRIDGE BUS STATION
Bx
N AV INGTO WASH FORT
Bx
W 166 ST
7
2
W 165 ST 3
MORRIS-JUMEL MANSION
W 163 ST
M RIV
DR
3 100 101
1 W 157 ST
B D
Insurance Bx
6
BROADWAY
AMSTERDAM AV
3
$4,160
Management 135 ST WESLEY GROSS OPERATING WILLIAMS PL EXPENSES Bx
33
ST NICHOLAS PARK
11 60
BROADWAY
1
1
INGSI N MOR
Cathedral Pkwy (110 St)
B C
W 112 ST
Central Park North (110 St)
2 3 2
CENTRAL PARKDANA DISCOVERY CENTRAL NORTH HARLEM LASKER RINK
DUKE ELINGTON BLVD W 106 ST
1
E 110 ST
110 2
1
4
3
103 1
3
10
11
NORT MEADOW
W 100 ST
ASKING PRICE: $3,600,000
96 106
W 96 ST
96 ST
1
4 106
B C 96 ST
2
CENTRAL PARK
FOR MORE INFORMATION PLEASE CONTACT OUR EXCLUSIVE SALES AGENTS AT 212.544.9500 I arielpa.nyc
FOR FINANCING INFO
Matthew L. Gillis x42
Paul McCormick JEWISHx45 MUSEUM
[email protected]
Orry Michael x4002
[email protected] W 91 ST
CENTRAL PARK WEST
Michael A. Tortorici x13
BROADWAY
[email protected]
WESTEND AV
3
Victor Sozio x12
E 96 ST
96
[email protected] RESERVOIR
COLUMBUS AV
AMSTERDAM AV
COOPER-HEWITT MUSEUM NATIONAL The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. AsACADEMY an example, MUSEUM 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 GUGGENHEIM MUSEUM 86 income, and all other information contained herein. September 12, 2017 10:20 PM W 87 ST 104
86
3
96 106
W 97 ST
W 97 ST
1
86
MADISON AV
7
3
5 AV
RIVERSIDE DR
11
1
E 106 ST
4 106 7
2 4
MEER
MUSEO DEL BARRIO MUSEUO OF THE CITY OF NEW YORK
B C 103 ST
W 103 ST
103 ST
104
PARK AV
FREDERICK DOUGLASS BLVD
AMSTERDAM AV
R DE D
AV
Adam Clayton Powell Jr Boulevard
W 116 ST
2
7
116
116 10
W 104 ST
[email protected]
6
MARCUS GARVEY PARK
2 3
W 105 ST
W 101 ST
4
125
116 St
W 116 ST
4
60 116
B C
AS
11
METRO NORTH
116
7 116
RIVERSIDE PARK
116 St
OL
1
CH
Cathedral Pkwy (110 St)
W 103 ST
98
OLAS AV
CATHEDRAL OF ST JOHN THE DIVINE
3
NI
SUBJECT MORNINGSIDE PARKPROPERTY
W 113 ST
ST NICH
3
ST
1 116 St Columbia University
5
1
Bx
STUDIO MUSEUM IN HARLEM
W 122 ST
COLUMBIA UNIVERSITY
West 113th Street
1
W 130 ST
60 15 100 101
2 3
10
60
1829
Bx
33
Bx
W 120 ST
W 116 ST
33
60 15
4 104
West 114th Street
RO
MET
Bx
1
DR MARTIN LUTHER KING BLVD
MANHATTAN AV
GRANT’S TOMB
$6,251
$43,106
125 ST
100 101
MORNINGSIDE AV
5
5
S
D
MAD
135 ST
APOLLO THEATRE
B D 125 ST
BLV
BROADWAY
N
CLARENONT AV
North side of West 113th Street between Adam Clayton Powell Jr Boulevard & Frederick Douglas Boulevard
A C
104
ING
NA
ISO
W 137 ST
W 135 ST
2 3
HARLEM
104 Bx
ER K
SCHOMBURG CENTRE
B C
W 129 ST
15 MAR 15 TIN LUT H
$2,084 W 139 ST
W 139 ST
LOCATION MAP DR
102 7
Legal/Miscellaneous
W 131 ST
TAX MAP
Garden via Southern Blvd
2
10
11
1
GE RID 2 ST B 145 Bx19 to Botanical $3,400
Payroll
CONVENT AV
PL
ILTO N
HAM
RIVERSIDE DR
Bx
19
W 145 ST
145 ST
100 101
5
$2,700
1
W 146 ST
Repairs
W 145 ST
125 ST
Frederick Douglass Boulevard
EDGECOMBE AV
B D
100 101
W 137 ST
DR
5
4
ER RIV
11
A C
$2,000 W 143$2,300 ST $2,300 $2,300 $2,300 1 $2,300CITY 137 ST CITY COLLEGE COLLEGE $17,900 W 135 ST $214,800
Bx
11 19
3 7 102
OLAS AV
Projected Projected Projected RIVERBANK STATE PARK Projected Projected Projected
$1,080
EM
1
Bx
$4,500
Cleaning &WMaintenance 147 ST
3
W 147 ST 145 ST
Harlem 148 St
W 150 ST
ST NICH
Studio 1BR 1BR 1BR 1BR 1BR
$2,000 $2,400
$2,400
Bx6 to Hunts Pt Food Ctr via Yankee Stadium
RL HA
MONTHLY RENT
19
1F 1R 2F 2R 3F 3R TOTAL MONTHLY INCOME TOTAL ANNUAL INCOME
Electric
AV
Projected Projected
ROBINSON PARK
S HOLA
Studio 1BR
W 150 ST
98
Fuel JACKIE
ST NIC
ACTUAL/PROJECTED
B
PARK AV
DR
Garden F Garden R
NO. OF BEDROOMS
$7,600
D
S MB GE CO ID MA M BR A D
10
155 ST
SCHEDULED INCOME APT
Water & Sewer 2
6
TERRACE
$8,932
MADISON AV
SIDE
157 ST of SGI 20% WCap 155 ST Rate 4.59% AUDUBON C
Bx
Real Estate Taxes (17/18)
5 AV
IDE
MT MORRIS PARK W
ERS
EXPENSES: (ESTIMATED)
HARLE
RIV
168 ST Amsterdam Av
5
EDGECOMBE AV
$214,800 ($6,444) $208,356 ($43,106) $165,250
RIVER
Scheduled Gross Income: Less Vacancy Rate Reserve (3.00%): Gross Operating Income: Less Expenses: Net Operating Income:
4
ER D
C
LENOX AV
CURRENT ROLL
W 168 ST
ADAM CLAYTON POWELL JR BLVD (7 AVENUE)
DR IDE
ERS RIV
AV
101
1
A C Washington hts 168 St
BRADHURST AV
HAVEN
VACANT TURN-KEY, 8 UNIT MULTIFAMILY BUILDING | FOR SALE
HARLEM RIVER DR
7
FREDERICK DOUGLASS BLVD
5
100
RIVE
4
263 WEST 113TH STREET, NEW YORK, NY 10026
HIGHBRIDGE PARK
AMSTERDAM AV
WASHINGTON HEIGHTS
LITTLE RED LIGHTHOUSE
AY ADW BRO
HIN WAS
W 175 ST
ST NICHOLAS AV
E
RIDG
NB GTO
RGE
GEO
Farm Rd via 170 St Bx13 to Yankee Stadium via Odgen Av Bx35 to West Farms Rd via 167 St Bx36 to Olmstead Av/Randall Av via 180 St
3
A
AUDUBON AV
PARK
8
4 6
