$1,690,000
Updated 10 years ago
Off Market

1674 Park Ave

East Harlem, Manhattan | East 117th Street & East 118th Street

Rental Property

$1,690,000
floors / apts6 / 13
Lot Size2275'x89'6"
Built Size25'x89'
ZoneR7-2
Building TypeLow-Rise

Building Amenities

  • Voice Intercom
  • Elevator
  • Roof Deck

Property Description for 1674 Park Ave

> A vacant land in the heart of East Harlem with an approved plan to build a mixeduse building. > Vacant land: Lot size: 25x90 > Built size 73x25 > Approved plan to build 13 apts and three retail stores. > There are two retail spaces on the Park Ave. 290 sqft Each (usable) total 580sqft. With 895 sqft in the basement. > One retail space on East 118 Street. 1031 sqft. > Total 13 residential apts. (7) lofts (4) One bedroom Apts. (2) Three bedroom apts. > Project income: Two retail on Park Ave. $8,500 The one on East 118st $7,000 > ResidentialIncome: (7) Lofts: $1,500 total $10,500 (4) One bedroom apts $2,000 total $8,000 (2) Three bedroom apts $3,000 total $6,000 > Total Gross income: $480,000 > Expenses: Tax: $15,000 Gas: $20,000 Electricity: $4,500 Insurance: $9,000 Super: $6,000 Repair: $4,000 Total Expenses: $58,500 > TotalNet income (projected) $421,500

Listing History for 1674 Park Ave

Now
08/29/2013
POM by Yanhua (Lily) Li
Douglas Elliman
05/31/2013
TOM by Yanhua (Lily) Li
Douglas Elliman

Building Details for 1674 Park Ave

OwnershipRental Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePost-War
AccessElevator
Year Built2013
Floors/Apts6/13
Learn More About the Building

Transit and Citi Bike

Subway

116 St
0.15 miles
125 St
0.36 miles
116 St
0.37 miles
110 St
0.4 miles
110 St-Malcolm X Plaza
0.49 miles

Railroad

Harlem-125 StMetro-North Railroad
0.36 miles

Citi Bike

E 118 St & Park Ave
0.01 miles
E 118 St & Madison Ave
0.1 miles

Contact Agent

Contact Agent

Yanhua (Lily) Li
Douglas Elliman

East Harlem | Manhattan

Quick Profile

Take a stroll through East Harlem and you’ll find a vibrant, culturally diverse neighborhood, which is evident no matter which direction you look. East Harlem is also known as Spanish Harlem, El Barrio, and “The Neighborhood,” as it is home to a population that represents Hispanic immigrants, primarily from Puerto Rico, as well as from Mexico, Cuba, and the Dominican Republic. These immigrants brought their cultures with them, in the form of music, dance, art, and food. During the day, you’ll find the neighborhood filled with opportunities to experience Latin culture. Both the salsa dance craze and the graffiti style of art were born right in East Harlem. There are many great places to sample authentic cuisine, from Rao’s (where you cannot get a table unless you inherit one, and any reservations must be booked years in advance) to sidewalk carts, where you can get the best “street meat” to be had in NYC.

In East Harlem you’ll find a number of innovative educational opportunities in the form of specialized and charter schools that are considered top-notch. Many of these have very competitive admissions criteria and offer curricula that focus on creativity and social awareness. Such schools are a draw for young families that want to raise their children in an educational system that goes above and beyond the standard.

The vibe of East Harlem is one of community and neighbors that interact with each other routinely. There are many small, family-owned and -operated businesses and restaurants that have been neighborhood anchors for years. As you stroll through East Harlem, you will be immersed in sights, sounds and flavors that are straight from Latin American or the Caribbean islands, sometimes both at once. You can sample Puerto Rican-inspired plantain mofongo, which is mashed plantains with garlic and pork rinds, from local sidewalk carts. Or if it is a hot summer’s day, you might enjoy a Mexican-inspired licuado, which is a blended drink similar to a smoothie, made with milk, fruit, and ice. Sometimes, spices, citrus juices, and sugar are added. Although you will find an abundance of authentic cuisine and music no matter where you look in East Harlem.

Prefer to cook at home? East River Plaza offers Target, Costco, and Aldi stores, all of which offer fresh food at reasonable prices.

East Harlem housing consists of more affordable walk-ups, low-rise pre-war buildings, brownstones, and is dominated housing complexes. You can find some comparatively large apartments at reasonable price points, and even some rent-stabilized apartments. Luxury co-op and condo units are being built on the southern boundary of East Harlem. 

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: 47538TH