Apt: 3G
New York, NY 10026

Property

Ownership: For Sale
Type: Condo
Rooms: 4
Bedrooms: 2 BR
Bathrooms: 1
Pets: Pets Allowed

Financials

Price:$625,000
Annual Taxes:$5,228
Common charges:$658
505 Park Ave, New York, NY 10022
Listing Courtesy of NextHome Residential

This renovated two bedroom South Harlem condominium presents a compelling opportunity for both homeowners and investors alike.

Open concept living area featuring wood-finish flooring and a breakfast bar

Description

This renovated two-bedroom South Harlem condominium presents a compelling opportunity for both homeowners and investors alike. Delivered vacant, the residence offers the flexibility to move right in or immediately generate income, depending on your strategy. For investors, projected performance reflects an estimated 4.5% cap rate with strong first-year cash-on-cash potential based on current market rents of approximately $3,700/month. LLC purchasing is permitted, and the condominium structure supports leasing with board approval and a standard Right of First Refusal, offering greater flexibility than more restrictive ownership types. Defined layout. Flexible second bedroom. Western light where it matters. Thoughtful functionality throughout. This efficiently arranged two-bedroom South Harlem residence at St. Nicholas Court is well-positioned for both end-user comfort and consistent rental performance. A proper entry foyer creates a natural separation from the main living space and immediately stands out with custom wall-mounted shoe racks—a highly practical and rarely seen built-in feature that maximizes storage while keeping the home organized from the moment you arrive. The living and dining area is comfortably proportioned, allowing for a variety of furniture configurations while maintaining a clean, usable footprint for both everyday living and entertaining. The adjacent renovated kitchen is polished and functional, featuring stainless steel appliances, recessed lighting, ample cabinetry, and a garbage disposal—an operational convenience not commonly found in comparable homes. Both bedrooms are tucked away for privacy and benefit from western exposure, bringing in consistent afternoon and evening light. The primary bedroom features mirrored closets and comfortably accommodates a queen-sized bed and additional furnishings. The second bedroom offers flexibility as a guest room, home office, or additional sleeping space, supporting a variety of living or rental configurations. The updated bathroom features floor-to-ceiling tilework, a glass shower partition, a modern vanity with integrated storage, and clean contemporary finishes designed for durability and ease of maintenance. Located in South Harlem just blocks from Central Park North, the home is moments from the Harlem Meer, Conservatory Garden, and the North Woods—key lifestyle drivers for both residents and tenants. Transportation is highly convenient with the nearby 2 and 3 express subway lines providing direct Midtown access in approximately twelve to eighteen minutes to Times Square during peak hours. St. Nicholas Court is a well-maintained condominium offering practical amenities including a laundry room and bike storage. Pets are permitted. A key advantage of the building is its bulk Spectrum package (approx. $86/month included in common charges), which includes cable, premium streaming, and high-speed internet at around 500 Mbps. Comparable services would typically cost approximately $160–$200+ per month if purchased separately, allowing owners to effectively offer a higher net-effective rent value to tenants while keeping ownership costs streamlined. With efficient design, strong natural light, low-maintenance finishes, and flexible use potential, this property presents a compelling opportunity for both end users and investors seeking long-term value in Manhattan.

Amenities

  • Accessible Elevator Installed
  • Accessible Entrance
  • Aluminum Frames
  • Bicycle Room
  • Blinds
  • Breakfast Bar
  • Built-in Features
  • Cable Connected
  • Ceiling Fan(s)
  • City
  • City Lot
  • Corner Lot
  • Dishwasher
  • Disposal
  • Double Pane Windows
  • Electricity Connected
  • Elevators
  • Entrance Foyer
  • Fire Alarm
  • Fire Escape
  • Fire Sprinkler System
  • First Floor Bedroom
  • First Floor Full Bath
  • Gas Range
  • High Speed Internet
  • Microwave
  • Natural Gas Connected
  • Near Public Transit
  • Near School
  • Near Shops
  • Open Floorplan
  • Phone Available
  • Quartz/Quartzite Counters
  • Range
  • Recessed Lighting
  • Refrigerator
  • Sewer Connected
  • Smoke Detectors
  • Soaking Tub
  • Stainless Steel Appliance(s)
  • Trash Collection Public
  • Video Cameras
  • Water Connected
  • Window Bars

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.