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    1980 2Nd Ave New York, NY 10029

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    For Sale
    Contact for pricing

    Prime East Harlem Investment Opportunity

    Property size:
    50,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional East Harlem investment opportunity presents a portfolio of four mixed-use buildings totaling 50,000 square feet at 1980 2nd Ave, New York, NY 10029. The portfolio comprises 44 residential units and significant commercial space, generating a strong Net Operating Income (NOI) of $1,775,000. Situated on a 17,860 square foot lot, this property offers substantial upside potential. A key advantage is the inclusion of over 58,200 square feet of unused air rights, allowing for considerable expansion and development. The buildings are conveniently located within walking distance of parks, markets, bars, and restaurants, benefiting from the vibrant East Harlem community. This stabilized investment presents a rare chance to acquire a significant multifamily portfolio in a rapidly developing area of New York City. The portfolio's strong cash flow, combined with the substantial air rights, makes it an attractive proposition for both seasoned investors and developers seeking to capitalize on the area's growth. This is a unique opportunity to own a piece of Harlem's dynamic and diverse landscape.

    Property Features for 1980 2Nd Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    50,000 SF

    Building Details

    Buildings
    4
    Units
    44

    HighLights

    • Stabilized multifamily investment opportunity in East Harlem, NYC.
    • Four‑building portfolio totaling 50,000 square feet.
    • $1,775,000 Net Operating Income (NOI).
    • 44 residential units.
    • 17,860 square foot lot with 58,200 square feet of air rights.
    Property Profile Location Intelligence

    Current Use by Public Records

    102 Family Organic ... Deli HARROW CONSTRUCTION & MANAGEMENT ... Masonry Contractor 1980 Gourmet Deli Gourmet Grocery Store Harlem Heirloom Candle Store

    Suggested Use

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

    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
    -73.94442076
    Latitude
    40.78795087

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    FAQs

    What type of property is this?
    Multifamily property - Prime East Harlem Investment Opportunity
    Where is this multifamily property located?
    The property is located at 1980 2Nd Ave New York, NY.
    What are key features of this property?
    This property features: Stabilized multifamily investment opportunity in East Harlem, NYC.; Four-building portfolio totaling 50,000 square feet.; $1,775,000 Net Operating Income (NOI).
    Request Owner's contact information
    1980 2Nd Ave New York, NY 10029
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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
    1980 2Nd Ave New York, NY 10029
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