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242-244 E 116th St
New York, NY 10029
Multifamily Property For Sale
·
29 Units
PROPERTY FACTS
| No. Units | 29 | Lot Size | 0.10 AC |
| Property Type | Multifamily | Building Size | 19,770 SF |
| Property Subtype | Apartment | No. Stories | 6 |
| Apartment Style | Mid-Rise | Year Built | 1910 |
| Building Class | C | ||
| Zoning | R7D, C1-5, EHC | ||
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 19,770 SF |
| No. Stories | 6 |
| Year Built | 1910 |
| Zoning | R7D, C1-5, EHC |
ABOUT 242-244 E 116TH ST , NEW YORK, NY 10029
Marcus & Millichap is the exclusive sales broker for 242-244 East 116th Street, a mixed-use building between Second and Third Avenues. The subject property contains twenty-six two-bedroom rent stabilized apartments and three stores. The stores are occupied by a barber, a bakery and a flower/gift shop. The subject property measures 43 feet by 88 feet totaling approximately 19,134 square feet and sits on a 43 x 101-foot R7D/C1-5/EHC-zoned lot (maximum 4.2 floor area ratio). The building is neither landmarked nor in a historic district. The subject property is two blocks from the Lexington Avenue 6-train station at 116th Street. It will be directly adjacent to the future Second Avenue Subway’s 116th Q-train station (the MTA recently allocated $4.55 billion for Phase II). The subject property is also part of the East Harlem Rezoning (approved 11/30/17) which over the next ten years is projected to result in 3,500 new dwelling units, 122,000 square feet of stores and restaurants, and 275,000 square feet of office and industrial space.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,053 | 600 |
| 2+1 | 20 | $1,356 | 600 |
| 3+1 | 2 | $1,405 | 600 |
PROPERTY TAXES
| Parcel Number | 1665-0031 | Improvements Assessment | $1,047,240 |
| Land Assessment | $97,650 | Total Assessment | $1,144,890 |
PROPERTY TAXES
