2067 Adam Clayton Powell Blvd

Ariel Property Advisors is pleased to present 2067 Adam Clayton Powell Junior Boulevard, a turn-key five (5) story mixed-used, walk-up building located in Prime Central Harlem between West 123rd and 124th Streets. Spanning 17,243 gross square feet, the building contains sixteen (16) spacious residential units and two (2) retail units. The unit mix consists of three (3) one-bedroom, three (3) two-bedroom, and ten (10) three-bedroom apartments. The building recently underwent an extensive renovation which includes brand new common areas, new doors for each unit, upgrades to the mechanical, electrical and security systems, as well as a washer and dryer in nearly every unit. The ground-floor retail component spans 41’ along Adam Clayton Powell Jr. Boulevard and is occupied by Soraya’s House of Beauty and Harlem Wine Salon, both of whom are under long term leases set to expire in 2026 and 2027 respectively. Additionally, in-place retail leases require tenants to pay their pro-rata share of all public utilities and a percentage increase in real estate taxes over a base year. The leases also call for annual rent escalations of 3%-4%. The property benefits from a J-51 Tax Abatement that is set to expire in June of 2019. Situated just two blocks away from the bustling 125th Street corridor, the building is located within walking distance to several institutions and eateries such as Columbia University’s Manhattanville Campus expansion, The Apollo Theater, Whole Food’s Market, Red Rooster, Sylvia’s, and Chez Lucienne. Tenants also benefit from the property’s proximity to the 2/3 subway trains located at 125th Street and Lenox Avenue, which provides easy access to downtown Manhattan and outer borough locations. 2067 Adam Clayton Powell Jr. Boulevard offers investors a unique investment opportuntiy to acquire a turn-key asset yielding significant cash flow in the heart of Central Harlem.