Four-Unit Luxury
114 W 124TH ST Unit TH New York, NY 10027
114 W 124TH ST Unit TH, New York, NY, 10027
$3,285,000
For Sale
$3,285,000
Turnkey four-unit townhouse with four leased two-bedroom residences and private outdoor access across multiple levels.
Property Size4,000 SF
Lot Size0.04 Acres
Price / SF$821.25
Days on Market228
Property Features for 114 W 124TH ST Unit TH
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Lot size
- 0.04 Acres
- Property subtype
- Apartment
Building Details
- Year Built
- 1910
Listing agency
(646) 480-7665
Listed by
Serhant
(631) 377-2756
Source
Xome
Added: Dec 6, 2025 Updated: Jul 22 at 5:46PM Checked: Jul 22 at 5:46PM
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 Serhant
Investment Insights
Based on property information with market context.
A turnkey boutique four-unit townhouse offering four full-floor two-bedroom residences, currently configured with free-market tenancy and all units occupied. The property was fully renovated from the inside out and includes hardwood flooring, exposed brick elements, modern HVAC climate control, chef-caliber kitchens with high-end appliances, and in-unit laundry for each apartment. Each home also features direct access to outdoor space, including a rear garden and additional private outdoor areas on the garden and parlor levels.
Located at 114 W 124th Street in Harlem, the south-facing, 19-foot-wide townhouse has a wide brownstone profile. The building is year built 1910 and sits within zoning C4-4, with compliance status stated as free of any open DOB or municipal violations.
The configuration includes a garden level with approximately 1,000 SF plus a private 420 SF garden, a parlor level with approximately 1,000 SF plus two outdoor areas totaling approximately 650 SF (balcony & patio), and additional full-floor residences on the second and third floors (each approximately 1,000 SF, per the provided unit breakdown). The offering also notes unused air rights and remaining development potential, alongside individually metered utilities and modern infrastructure. The property is presented as operating at an approximate 4.5 cap rate, with a stated potential path toward enhanced returns through optimization. Showings are by appointment only with 48 hours’ advance notice.
Located at 114 W 124th Street in Harlem, the south-facing, 19-foot-wide townhouse has a wide brownstone profile. The building is year built 1910 and sits within zoning C4-4, with compliance status stated as free of any open DOB or municipal violations.
The configuration includes a garden level with approximately 1,000 SF plus a private 420 SF garden, a parlor level with approximately 1,000 SF plus two outdoor areas totaling approximately 650 SF (balcony & patio), and additional full-floor residences on the second and third floors (each approximately 1,000 SF, per the provided unit breakdown). The offering also notes unused air rights and remaining development potential, alongside individually metered utilities and modern infrastructure. The property is presented as operating at an approximate 4.5 cap rate, with a stated potential path toward enhanced returns through optimization. Showings are by appointment only with 48 hours’ advance notice.
Key Highlights
- Four‑unit, full‑floor townhouse with 4 leased two‑bedroom residences and all units occupied
- Over 4,000 SF total living space with lofty ceilings and well‑proportioned layouts across every level
- Each residence includes in‑unit laundry; modern interiors with hardwood floors, exposed brick elements, and contemporary HVAC climate control
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $204.0k | $51.00 |
| − Vacancy | −$10.6k | −$2.65 |
| EGI | $193.4k | $48.35 |
| − OpEx | −$58.0k | −$14.50 |
| NOI | $135.4k | $33.84 |
4,000 SF · lease $51.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.93M
$1.69M – $2.26M
NOI $135,374 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$1.79M
$1.56M – $2.09M
NOI $125,149 @ 7.0% cap · market cap 3.81%
Theoretical Best
Specialty Retail
$9.96M
$8.71M – $11.62M
NOI $696,960 @ 7.0% cap · market cap 21.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
D&L Handyman & Remodeling ...
Hardware & Home Improvement
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FAQs
What type of property is this?
Quadplex - Turnkey four-unit townhouse with four leased two-bedroom residences and private outdoor access across multiple levels.
Where is this quadplex located?
The property is located at 114 W 124TH ST Unit TH New York, NY.
What is the asking price?
The asking price for this property is $3,285,000.
What are key features of this property?
This property features: Four‑unit, full‑floor townhouse with 4 leased two‑bedroom residences and all units occupied; Over 4,000 SF total living space with lofty ceilings and well‑proportioned layouts across every level; Each residence includes in‑unit laundry; modern interiors with hardwood floors, exposed brick elements, and contemporary HVAC climate control
