Value-Add Mixed-Use Building in East Harlem

• 2 blocks from the 2, 3, and 6 trains • Flexible floor-through residential apartments • Perfect for a value-add investor  • In the heart of the Sendero Verde development

Overview


    Location

    135 East 57th Street, 18th Floor, New York, NY 10022

    Goldenwood Property Advisors has been retained on an exclusive basis to arrange for the sale of 1679 Madison Avenue, New York, NY 10029. The subject property consists of four (4) rentable units, 2 retail units on the first two floors and two 2 bedroom floor through residential units above. The property is currently the only building on a block that is in the final stages of redevelopment planning by Jonathan Rose Companies and L+M Development. The project, called Sendero Verde, promises to continue the upward trend that East Harlem is experiencing. The Property is supremely located two blocks from the 6 Train and 2 blocks from the 2 and 3 Train. This area of East Harlem is especially desirable given the close proximity to Central Park and institutions such as Mount Sinai Hospital. Residential units in this area are being rented at around $50/SF, with new condo inventory selling for upwards of $1,000/SF. The Property is ideal for a value-add investor looking to enter the East Harlem market.

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