188 St Nicholas Ave New York, NY 10026
- Apartment buildings
- 64,058 SF
Current Use by Public Records
- Isalis / Gift Shop / Boutique
- Party City / Party Store / Balloon Store
- Skunk Funk / Wholesaler / Clothing Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop
Property Details for 188 St Nicholas Ave
- Year built
- 1920
- Property size
- 64,058 SF
- Property type
- Apartment buildings
Description
This seven-story, 64,058 square foot elevator building at 188 St. Nicholas Avenue, New York, NY 10026 presents a compelling value-add investment opportunity. Built in 1920, this corner property boasts 42 residential units, with approximately 33% free-market and 67% rent-regulated. The building sits on an 11,523 square foot lot (APN 1925/50) and is zoned R7A. The asking price is $9,500,000, translating to $148.30 per square foot and $226,190.48 per unit. Its prime location, just five blocks from Harlem's vibrant 125th Street retail core, offers significant upside potential. Short-term value can be realized through renovations of existing free-market units and currently vacant units. Long-term appreciation is anticipated due to the potential for increased rental income from larger units within the Harlem market. The building's corner location ensures excellent natural light and ventilation throughout. This is a rare chance to acquire a stable, cash-flowing asset with substantial growth prospects in a thriving New York City neighborhood.
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
- -73.9526
- Latitude
- 40.8063
