$5,495,000
Updated 7 years ago
Off Market

503 East 116th Street

East Harlem, Manhattan | Pleasant Ave & FDR Drive

10 Rooms10 Beds9 Baths7,875 Square FeetIncome Property

$5,495,000
floors / apts5 / 9
Lot Size25'x80'
ZoneR7A
Building TypeLow-Rise
RE Taxes$51,595
Price Per SF
$698

Building Amenities

  • Voice Intercom
  • Laundry Room

Property Description for 503 East 116th Street

Motivated Seller!

Invest in the future of East Harlem.

25 foot wide, nine unit, immaculately kept building for sale on East 116th street - literally next door to the East River Plaza Mall (which houses Target, Costco, PetSmart, Planet Fitness, etc...) and steps from famous Rao's Italian restaurant.

All apartments are FREE MARKET!

LAUNDRY ROOM in basement.

Three high-rise, luxury, residential towers are being planned for atop the adjacent mall.

The property is in the middle of the nation's original "Little Italy." The gentrification of the neighborhood is easily noticeable.

Feel free to call for additional details.

Building Details for 503 East 116th Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts5/9
Learn More About the Building

Transit and Citi Bike

Citi Bike

Pleasant Ave & E 116 St
0.04 miles
Pleasant Ave & E 120 St
0.18 miles

Contact Agents

Contact Agents

Constantinos Katehis
Platinum Properties
Cyrus Eyn
Platinum Properties

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: 71713TH