We are pleased to highlight the sale of 511 West 151st Street, a 75’ wide, 26,630 square foot, 31 unit multifamily building located on the north side of West 151st Street between Broadway and Amsterdam Avenue. This five-story building is comprised of 6 one-bedroom, 19 two-bedroom and 6 three-bedroom apartments. All of the units are rent stabilized and are 730 square feet on average. Recent major capital improvements include the installation of gas risers and security cameras. Future ownership will have the opportunity to capitalize on the upside found in the below market rents and generously sized apartments.
Tenants benefit from the Property’s close proximity to the Broadway and Amsterdam Avenue retail corridors which includes neighborhood gems such as The Chipped Cup, The Handpulled Noodle and Harlem Public. National retail tenants in the area include Payless Shoes, Subway, McDonalds, Taco Bell, GNC, Footlocker and Bank of America. Public transportation is easily accessible via the 1, C and B subway lines as well as numerous bus lines that service the area.
