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2147 Second Ave 16 Unit Apartment Building $6,500,000 ($406,250/Unit) 6.10% Cap Rate New York, NY 10029

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Investment Highlights

Area presents value-growth potential, as an East Harlem mixed use asset with strong visibility and neighborho
Ground floor retail with wide street frontage, benefiting from dense surrounding residential demand.
Approximately 2,488 square feet of as of right air rights offering future expansion or value add optionality.

Approximately $741,817 in gross annual revenue with residential rents averaging $3,280 per unit.
Efficient 17 unit mixed use footprint offering manageable scale and diversified income streams.

Executive Summary

Nine story elevator mixed use building for sale, consisting of 16 residential apartments and one ground floor retail unit. The residential component features a predominantly two bedroom unit mix with in place rents averaging approximately $3,280 per unit, providing strong in place cash flow with long term stability.

Manhattan_2147 2nd Ave_OM_1.23

Property Facts

Price	$6,500,000	Apartment Style	Mid-Rise
Price Per Unit	$406,250	Building Class	B
Sale Type	Investment	Lot Size	0.06 AC
Cap Rate	6.10%	Building Size	16,500 SF
No. Units	16	No. Stories	9
Property Type	Multifamily	Year Built	2008
Property Subtype	Apartment General Retail Storefront Retail/Residential	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R9A, C2-5, TA, EHC - Commercial district predominantly residential in character

Price	$6,500,000
Price Per Unit	$406,250
Sale Type	Investment
Cap Rate	6.10%
No. Units	16
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential
Apartment Style	Mid-Rise
Building Class	B
Lot Size	0.06 AC
Building Size	16,500 SF
No. Stories	9
Year Built	2008
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R9A, C2-5, TA, EHC - Commercial district predominantly residential in character