1980 2Nd Ave New York, NY 10029
- Commercial real estate
- 50,000 SF
Current Use by Public Records
- 102 Family Organic Deli / Deli
- HARROW CONSTRUCTION & MANAGEMENT SERVICES INC. / Sunroom Contractor / Tile Contractor
- 1980 Gourmet Deli / Gourmet Grocery Store
- Harlem Heirloom / Candle Store
Property Details for 1980 2Nd Ave
- Property size
- 50,000 SF
- Property type
- Commercial real estate
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.94442076
- Latitude
- 40.78795087
