Ariel Property Advisors has exclusively listed properties at 369 West 126th Street, 532 West 152nd Street and 417 West 126th Street. These three properties are in the West Harlem-Hamilton Heights neighborhoods of Manhattan, an area currently seeing aggressive development. The buildings are all being listed by an Ariel Property Advisors team including Victor Sozio, Executive Vice President, Investment Sales; James Nestor, Associate Director, Investment Sales; and Evan Hirsch, Associate, Investment Sales.
“All of these properties present tremendous upside and cash flow potential for investors interested in benefiting from Northern Manhattan’s appreciating residential market and rapidly developing commercial ecosystem in West Harlem,” said Sozio.
Listed for $6.6 million, 369 West 126th Street is a six-story, 11-unit multifamily elevator building in turnkey condition and built in 2007. The property encompasses a total of 11,238 square feet and contains two duplexes, eight one-bedroom units and one penthouse. Located in a prime, rapidly developing neighborhood, the building is steps away from the A, B, C and D trains, the Manhattanville Factory District and Columbia University’s steadily growing Manhattanville campus, as well as the bustling 125th Street corridor and a high-traffic shopping center anchored by Whole Foods.
417 West 126th Street is a historic three-story commercial elevator building, listed for $6.75 million, with an owner-friendly setup containing two commercial units configured as office space, which could work ideally for owner-users. It also offers indoor parking for up to 15 vehicles. Situated in an Opportunity Zone and to be delivered vacant, the property is well-positioned near foot traffic from the Factory District, Columbia University and a range of new residential and commercial developments, as well as the A, B, C and D subway lines. Importantly, the building possesses flexible zoning for redevelopment of residential, commercial or community facilities, while owners can also benefit from low taxes sheltered by an ICIP tax abatement.
Listed for $5.8 million, 532 West 152nd Street is a five-story, 14,700-square foot, turnkey multifamily building set among brownstones in the heart of Hamilton Heights. The 21-unit walk-up property comprises a one-bedroom, eight two-bedroom and 12 three-bedroom apartments. It is near the A and C subway trains for easy access to Midtown and Lower Manhattan while also within walking distance of CCNY, Riverbank State Park and the Hamilton Grange National Memorial. The building offers high cash flow for investors and, with its R7-A zoning, provides the opportunity to capitalize on an additional 1,956 gross square feet of air rights for future development.
About Ariel Property Advisors
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the New York metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry. arielpa.nyc