Mixed-Use Walk-Up
For Sale
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112-114 West 116th Street, New York, NY 10026
Five-story, mixed-use walk-up building with fully occupied residential units and three retail spaces.
Property Size18,000 SF
Days on Market122
Property Features for 112-114 West 116th Street
General Information
Standard status
Active
Size
18,000 SF
Property subtype
Mixed Use
Occupancy
100%
Additional Details
Multifamily Units
16
Building Details
Year Renovated
2007
Stories
5
Listing Agency:
Ariel Property Advisors
(212) 544-9500
Listed By:
Victor Sozio · License #NY 10301211469
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 23 at 2:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ariel Property Advisors
Investment Insights
Based on property information with market context.
112-114 West 116th Street is a five-story, 40’-wide mixed-use walk-up building with approximately 18,000 gross square feet. The property is fully occupied and includes 16 rent-stabilized apartments and three retail units. Ownership rehabilitated the building in 2007, converting the residential units to Class A and upgrading the retail component to include below-grade space.
Two retail units are on the ground floor, and one retail unit is located below grade, totaling approximately 1,760 square feet for the below-grade space. The residential mix includes four 2-bedroom apartments and twelve 1-bedroom apartments, each averaging approximately 600 to 650 square feet. There is currently an opportunity to recapture preferential rents on several of the units throughout the asset.
The building benefits from a J-51 tax abatement that expires in 2026. The residential units may have potential to be deregulated and become free market upon expiration. The property is on the south side of West 116th Street between Saint Nicholas and Lenox Avenues, within walking distance to Morningside Park and Central Park, and steps from the 2 and 3 subway station at Lenox Avenue and 116th Street.
Two retail units are on the ground floor, and one retail unit is located below grade, totaling approximately 1,760 square feet for the below-grade space. The residential mix includes four 2-bedroom apartments and twelve 1-bedroom apartments, each averaging approximately 600 to 650 square feet. There is currently an opportunity to recapture preferential rents on several of the units throughout the asset.
The building benefits from a J-51 tax abatement that expires in 2026. The residential units may have potential to be deregulated and become free market upon expiration. The property is on the south side of West 116th Street between Saint Nicholas and Lenox Avenues, within walking distance to Morningside Park and Central Park, and steps from the 2 and 3 subway station at Lenox Avenue and 116th Street.
Key Highlights
- 5‑story, 40' wide mixed‑use walk‑up building with 18,000 gross SF and fully occupied income producing units
- Includes 16 rent‑stabilized apartments plus 3 retail units
- Apartment mix: four 2‑bedroom and twelve 1‑bedroom units, averaging about 600 to 650 SF each
Property Analytics
Current Use
Lease Details
16
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
9,289
Businesses Nearby
Explore this area
Business Placement
Demographics for 10026, NY
35,644
Population
17,648
Households
2
Avg Household Size
37
Median Age
54%
College-Educated
90%
High-School Grad
0.4 sq mi
ZIP Area
89,110
Density / Sq Mi
$74,140
Median Household Income
$56,919
Median Earnings
$1,546
Median Rent
$1,014,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five-story, mixed-use walk-up building with fully occupied residential units and three retail spaces.
Where is this mixed-use property located?
The property is located at 112-114 West 116th Street New York, NY.
What are key features of this property?
This property features: 5‑story, 40' wide mixed‑use walk‑up building with 18,000 gross SF and fully occupied income producing units; Includes 16 rent‑stabilized apartments plus 3 retail units; Apartment mix: four 2‑bedroom and twelve 1‑bedroom units, averaging about 600 to 650 SF each
