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1820 Madison Ave - Lancaster Madison 6,566 SF Medical Condo Unit in New York, NY 10035
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- Offering Memorandum
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | APN/Parcel ID | 1745-1201 |
| Sale Type | Investment |
| APN/Parcel ID | 1745-1201 |
Description
The Heller Organization is engaged as the exclusive agent to offer for sale 1820 Madison Avenue in the East Harlem neighborhood of Manhattan (“Property”). This well-maintained commercial condominium encompasses 2 commercial tenants across approximately 6,566 gross square feet. The unit measures about 82' x 80'. The property is zoned C6 / E4.
Favorable layouts with open, mostly column-free space · All units feature at least one ADA bathroom · Each commercial unit contains individual hot water heater
· Convenient proximity to Mt. Sinai Hospital campus · 25-year tax exemption in place running through 2038
Favorable layouts with open, mostly column-free space · All units feature at least one ADA bathroom · Each commercial unit contains individual hot water heater
· Convenient proximity to Mt. Sinai Hospital campus · 25-year tax exemption in place running through 2038
Sale Notes
IMMEDIATE RENTAL UPSIDE: 100% of the commercial condo will be delivered vacant, allowing an investor to immediately capitalize on strong new lease rates. Medical and community tenants have shown to be more reliable and "recession proof" than other tenant classes.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 1201 | 6,566 SF | Medical | Upon Request | $363,600 |
Unit 1201
| Unit Size |
| 6,566 SF |
| Condo Use |
| Medical |
| Price |
| Upon Request |
| NOI |
| $363,600 |
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Unit 1201
| Unit Size | 6,566 SF |
| Condo Use | Medical |
| Price | Upon Request |
| NOI | $363,600 |
| Sale Type | Investment |
| APN/Parcel ID | 1745-1201 |
| Description | |
| The Heller Organization is engaged as the exclusive agent to offer for sale 1820 Madison Avenue in the East Harlem neighborhood of Manhattan (“Property”). This well-maintained commercial condominium encompasses 2 commercial tenants across approximately 6,566 gross square feet. The unit measures about 82' x 80'. The property is zoned C6 / E4.<br> Favorable layouts with open, mostly column-free space · All units feature at least one ADA bathroom · Each commercial unit contains individual hot water heater <br> · Convenient proximity to Mt. Sinai Hospital campus · 25-year tax exemption in place running through 2038</li></ul> | |
| Sale Notes | |
| IMMEDIATE RENTAL UPSIDE: 100% of the commercial condo will be delivered vacant, allowing an investor to immediately capitalize on strong new lease rates. Medical and community tenants have shown to be more reliable and "recession proof" than other tenant classes.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 40,803 SF | Floors | 8 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 3,977 SF |
| Property Subtype | Apartment | Year Built | 2011 |
| Building Class | B | Lot Size | 0.05 AC |
| Zoning | R7-2 | ||
| Total Building Size | 40,803 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 8 |
| Typical Floor Size | 3,977 SF |
| Year Built | 2011 |
| Lot Size | 0.05 AC |
| Zoning | R7-2 |
Amenities
Site Amenities
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 27 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
1 of 3
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Street View
Street
Map
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1820 Madison Ave - Lancaster Madison
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