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42 E 132nd St 12 Unit Apartment Building $3,100,000 ($258,333/Unit) 7.40% Cap Rate New York, NY 10037
EXECUTIVE SUMMARY
Built in 2019, 42 East 132nd Street is an eight-story elevator apartment building spanning 14,000 square feet and includes 12 apartments, one ground floor community facility, and a rooftop antenna. The building was constructed under a 25-Year 421a tax abatement (70/30) expiring in 2044, providing investors with generous tax savings during the abatement period. The property is walking distance to Harlem River Park, Marcus Garvey Park, and Harlem Hospital Center (NYC Health + Hospitals Medical Center). Nearby subways include the [2, 3] Trains at 135th Street.
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PROPERTY FACTS
| Price | $3,100,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $258,333 | Building Class | A |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 7.40% | Building Size | 14,000 SF |
| Gross Rent Multiplier | 8.1 | Average Occupancy | 92% |
| No. Units | 12 | No. Stories | 8 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R7B - Medium-density apartment house district with lower parking requirements ; Commercial district predominantly residential in character | ||
| Price | $3,100,000 |
| Price Per Unit | $258,333 |
| Sale Type | Investment |
| Cap Rate | 7.40% |
| Gross Rent Multiplier | 8.1 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | A |
| Lot Size | 0.06 AC |
| Building Size | 14,000 SF |
| Average Occupancy | 92% |
| No. Stories | 8 |
| Year Built | 2020 |
| Opportunity Zone |
Yes |
| Zoning | R7B - Medium-density apartment house district with lower parking requirements ; Commercial district predominantly residential in character |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
SITE AMENITIES
- Bicycle Storage
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | - |
1 1
Walk Score®
Very Walkable (89)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 1756-0048 | Improvements Assessment | $676,710 |
| Land Assessment | $199,800 | Total Assessment | $876,510 |
PROPERTY TAXES
Parcel Number
1756-0048
Land Assessment
$199,800
Improvements Assessment
$676,710
Total Assessment
$876,510
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42 E 132nd St
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