$11,950,000
Updated 11 years ago
Off Market

567-569 West 125th Street

Harlem, Manhattan | Old Broadway & Broadway

21,768 Square FeetIncome Property

$11,950,000
floors / apts6 / 24
Lot Size50'x99'8"
Built Size50'x84'
Building TypeLow-Rise
Price Per SF
$549

Building Amenities

  • Voice Intercom

Property Description for 567-569 West 125th Street

> Ariel Property Advisors presents 567-69 West 125th Street, a 50’ wide, six (6) story mixed-use located across the street from the new Columbia University campus under construction. > The building contains 24 units in total, of which there are two (2) retail units and twenty-two (22) residential apartments. > Of the residential units consist of one (1) 1-bedroom apartment, one (1) 4-bedroom apartment, and twenty (20) 3-bedroom apartments. > In the last year, 13 units were gut renovated and now feature marble bathrooms, granite countertops, dishwashers, washer/dryers, crown & baseboard molding and recessed lighting. > Building wide, the property has also had its electric service upgraded and had new security camera systems installed. > As a result, the property is uniquely positioned to generate significant cash flow while presenting future upside through units operating below market and the natural appreciation that will come with the completion of Columbia University’s expansion. > 567-69 West 125th Street also enjoys 40’ of prime retail frontage along 125th Street just off of Broadway, a retail location that is enhanced by its close proximity to the 1 train’s 125th Street station. > 567-69 West 125th Street’s exceptional location and turnkey condition make it a prime opportunity for multifamily operators and 1031 exchange investors seeking cash flow with tremendous upside.

Listing History for 567-569 West 125th Street

Now
01/30/2015
$11,595,000
Sold and Closed by Shimon Shkury
Ariel Property Advisors
2015

Building Details for 567-569 West 125th Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1901
Floors/Apts6/24
Learn More About the Building

Contact Agents

Contact Agents

Shimon Shkury
Ariel Property Advisors
Michael Tortorici
Ariel Property Advisors
Victor Sozio
Ariel Property Advisors

Harlem | Manhattan

Quick Profile

The neighborhood called West Harlem by the locals is known as Manhattanville to neighborhood newcomers. The area is culturally diverse and might be considered a microcosm of the city as a whole. 

Columbia University has recently expanded into the area, which is attracting student residents from all over the world. Together with students from the City College of New York and young professionals fleeing higher prices in other neighborhoods, this influx of younger residents has brought with it more restaurants and bars on W 125th Street to serve this clientele. There are also new ventures, like a rock-climbing gym, to cater to the interests of these students and young professionals. At the same time, there are many small, family-owned shops and restaurants that have been anchors of the neighborhood for multiple generations.

The area has been through a housing upgrade, as older properties have been renovated and abandoned properties have been razed to make room for new development. There are still reasonably priced apartments available. Young professionals are finding that there is a certain cachet to living in West Harlem. It provides a convenient commute to the city and all of its amenities, while providing a sense of escape at the end of a long work day.

While rentals are popular with the student population, the young professionals are delighted to find pre-war brownstones, pre-war co-ops (including some income-capped HDFCs for lower- and middle-income buyers), and post-war condos that they can afford, although prices are rising. Some new low-rise developments, sporting virtual doormen and desired amenities, are cropping up.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 52012TH