2 Elevator Multifamily Buildings with 111 Units and J-51 Tax Abatements

226 & 259 West 144th Street, New York, NY

$17,500,000

Price

7.33%

Cap Rate

$1,283,191

NOI

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Street
Map
Overview
Cap Rate
7.33%
NOI
$1,283,191
Building Size
109,530 sqft
Lot Area
27,478 sqft
Units
111
GRM
8.48
Price Per Sqft
$160
Price Per Unit
$157,658
Description

Investment Highlights
• One mixed use building and one solely residential building located on West 144th Street
• 110 residential units and 1 ground floor community facility space leased to ECDO Childstart, an early Childhood Day Care center
• Benefits from a J-51 Tax Abatement expiring in 2039 and a regulatory agreement with DHCR
• Conveniently located close to the A/B/C/D/3 Subway lines
• Close proximity to major retail corridors along 145th St. and Frederick Douglass Boulevard

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