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62 East 131st Street

$2,900,000

62 East 131st Street, New York, NY 10037

Active
Last Updated: 01/14/2025

6,013 sqft

Building Size

1,749 sqft

Lot Area

Details:
Building Size:    6,013 sqft
Lot Area:    1,749 sqft
Units:    5
Zoning:    R7B
Floors:    6
Year Last Renovated:    2013
Number of Elevators:    1
Highlights:
  • 5 spacious free market apartments consisting of 6,013± total SF
  • These 900± SF spacious 1BR units (with individual elevator access) may be converted into 2BR units, creating additional value for future ownership
  • Newly gut renovated and will be delivered vacant
  • A new elevator was installed, which provides keyed access to each individual units for each floor
  • It is ideally suited for a user/investor who may occupy 1-2 units and generate income from the others
Description:

Besen Partners, as exclusive agent for Ownership, is pleased to offer for sale 62 East 131st Street, New York, NY 10037 (the “Property”) located on the south side of East 131st Street between Park and Madison Avenues in the East Harlem neighborhood of Manhattan.

Built circa 1926 and fully renovated in 2013, this 6-story elevatored multifamily brownstone building contains 5 spacious free market apartments consisting of 6,013± total SF. These 900± SF spacious 1BR units (with individual elevator access) may be converted into 2BR units, creating additional value for future ownership. The property is newly gut renovated and will be delivered vacant. A new elevator was installed, which provides keyed access to each individual units for each floor. It is ideally suited for a user/investor who may occupy 1-2 units and generate income from the others. It could also be a single-family conversion or be sold individually as a condo or co-op. The property benefits from having protected tax class 2A and subsequently low taxes. Full Certificate of Occupancy expected by year-end.

Map:
Documents:
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Today's Available Mortgage Rates

62 East 131st Street, New York, New York 10037

Choose Your Priority
 
Interest Rate
Mo. Payments
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default.
Loan Amount
Rates as of 07/11/2025
Agency*Lender #592
5 Year Fixed
30 Year Amortization
Interest rate 5.91% 5 Year Fixed
Mo. Payment$7,749 30 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 45% LTV $10,000 Lender fees
Loan Amount $1,305,000 Loan Amount
Agency*Lender #592
7 Year Fixed
30 Year Amortization
Interest rate 5.93% 7 Year Fixed
Mo. Payment$7,766 30 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 45% LTV $10,000 Lender fees
Loan Amount $1,305,000 Loan Amount
Agency*Lender #592
10 Year Fixed
30 Year Amortization
Interest rate 6% 10 Year Fixed
Mo. Payment$7,650 30 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 44% LTV $10,000 Lender fees
Loan Amount $1,276,000 Loan Amount
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