Type:
Multifamily
Sq Ft:
46,737
Units:
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107-111 W. 137TH STREET & 2830 FREDERICK DOUGLASS BLVD
Harlem, Manhattan
$9,000,000
Property Description
IPRG has been exclusively retained to market for sale 107-111 West 137th Street and 2830 Frederick Douglass Boulevard, a three building regulatory multifamily portfolio located in Central Harlem. The portfolio consists of 49 residential units and two commercial units across three properties located within close proximity to one another.
The properties are subject to existing affordability and regulatory agreements with the New York City Department of Housing Preservation and Development (HPD) and currently benefit from a 34-year J-51 tax exemption, scheduled to phase out through approximately 2039. The portfolio presents an opportunity for a qualified purchaser to pursue a long-term Article XI tax exemption and benefits from attractive in-place financing that is assumable subject to lender and HPD approval, providing a unique combination of favorable debt and long-term real estate tax benefits.
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Block & Lot:
See OM
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Neighborhood:
Harlem
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Cross Streets:
See OM
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Building Dimensions:
See OM
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Lot Dimensions:
See OM
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Units:
51
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Total Approx. SF:
46,737
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FAR:
See OM
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Tax Class:
See OM
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