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- LoopNet Team
112-114 W 116th St
New York, NY 10026
Multifamily Property For Sale
·
19 Units
INVESTMENT HIGHLIGHTS
- Exceptional proximity to Columbia University, Central Park and the 125th Street thoroughfare.
- Potential to convert residential units to Free Market upon J-51 expiration in 2026.
- .Steps from the 2 and 3 subway trains
PROPERTY FACTS
| No. Units | 19 | Lot Size | 0.09 AC |
| Property Type | Multifamily | Building Size | 18,000 SF |
| Property Subtype | Apartment | No. Stories | 5 |
| Apartment Style | Mid-Rise | Year Built/Renovated | 1910/2007 |
| Building Class | C | ||
| Zoning | R7-2, C1-4 - Residential | ||
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 18,000 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1910/2007 |
| Zoning | R7-2, C1-4 - Residential |
AMENITIES
UNIT AMENITIES
- Kitchen
SITE AMENITIES
- Vintage Building
ABOUT 112-114 W 116TH ST , NEW YORK, NY 10026
Spanning 18,000 gross square feet, this building contains 16 apartments and 3 retail units. Ownership rehabilitated the building in 2007, converting the 16 residential units to Class A, and significantly upgraded the retail component to include below grade space. Two of the retail units are located on the ground floor and one is located below grade accounting for approximately 1,760 square feet of space. Of the 16 residential units, there are four 2-bedroom apartments and twelve 1-bedroom apartments each averaging approximately 600 to 650 square feet. Additionally, the property benefits from a J-51 tax abatement that expires in 2026. The property is located just 4 blocks away from Morningside Park, and is less than a 10-minute walk from Central Park. Additionally, the property is steps away from the 2 and 3 subway station at Lenox Avenue and 116th Street, providing residents easy access throughout Manhattan and outer borough locations.
PROPERTY TAXES
| Parcel Number | 1825-0041 | Improvements Assessment | $1,164,600 |
| Land Assessment | $100,800 | Total Assessment | $1,265,400 |
PROPERTY TAXES
