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    106 114Th St New York, NY 10026

    Sponsored
    For Sale
    $6,200,000

    52 Units, Excellent NOI, Prime Location

    Property size:
    7,365 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a portfolio of three well-maintained apartment buildings located at 106, 114, and 120 West 114th Street in New York, NY 10026. The property consists of 52 units spread across three walk-up buildings, each five stories high, totaling 7,365 to 31,020 square feet of space. Built in 1991, these buildings offer a strong foundation for long-term ownership. The current asking price is $6,200,000, representing a price per unit of $119,231 and a low basis of $112 per square foot. The property boasts a substantial net operating income (NOI) of $337,506. Recent renovations enhance the value and appeal of the units. One building benefits from tax class protection. Conveniently located near the 2 and 3 subway station, this portfolio offers exceptional access to public transportation. The lot sizes range from 2,018 to 7,973 square feet. This is a rare chance to acquire a stable, high-performing multifamily asset in a desirable and rapidly developing neighborhood. The property's strong cash flow and potential for future appreciation make it an ideal investment for discerning buyers.

    Property Features for 106 114Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,365 SF

    Building Details

    Year Built
    1991
    Buildings
    3
    Stories
    5
    Units
    52

    HighLights

    • Well‑maintained, long‑term ownership opportunity.
    • Three walk‑up buildings at 114th Street, totaling 52 units.
    • 52 recently renovated units.
    • Low basis of $112 per square foot, $119,231 per unit.
    • One building offers tax class protection.
    • Excellent transit access via the 2/3 subway.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9517219
    Latitude
    40.801066

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    FAQs

    What type of property is this?
    Multifamily property - 52 Units, Excellent NOI, Prime Location
    Where is this multifamily property located?
    The property is located at 106 114Th St New York, NY.
    What is the asking price?
    The asking price for this property is $6,200,000.
    What are key features of this property?
    This property features: Well-maintained, long-term ownership opportunity.; Three walk-up buildings at 114th Street, totaling 52 units.; 52 recently renovated units.
    Request Owner's contact information
    106 114Th St New York, NY 10026
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    New York, NY 10026
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    106 114Th St New York, NY 10026
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