New York, NY 10027

Property

Ownership: For Sale
Type: Unknown
Bedrooms: Studio
Lot Size: 0.0 Acres

Financials

Price:$1,149,000
Annual Taxes:$21,690
505 Park Ave, New York, NY 10022
Listing Courtesy of Weichert New Homes Co

A single room occupancy SRO building in Central Harlem, 3 stories, with a value add profile for investors and developers targeting this submarket.

Description

A single-room-occupancy (SRO) building in Central Harlem, 3 stories, with a value-add profile for investors and developers targeting this submarket. The building is currently occupied by one remaining tenant paying $591/month, with all other units vacant. This limited occupancy positions the property for renovation, repositioning, or redevelopment with minimal tenant transition required. CONH status: No Certificate of No Harassment has been filed to date. There are no harassment complaints of record, and the seller has letters from previously departed tenants confirming they vacated in good standing. Buyers should independently verify CONH eligibility and requirements with due diligence; a clean complaint history and supporting tenant letters can support a future CONH application but do not substitute for one. Located moments from the 2/3 and A/B/C/D lines at 125th Street, in a corridor with continued residential and commercial investment. Ideal for investors or developers seeking a near-vacant Harlem asset with a clean tenancy history and redevelopment upside.

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.