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303 West 116th Street
Harlem, Manhattan | Adam Clayton Powell Blvd & Eighth Ave
18.5 Rooms11 Beds4.5 Baths8,878 Square FeetMulti-Family
$3,495,500
$3,495,500
Updated 6 years ago
Off Market

303 West 116th Street

Harlem, Manhattan | Adam Clayton Powell Blvd & Eighth Ave

18.5 Rooms11 Beds4.5 Baths8,878 Square FeetMulti-Family

$3,495,500
floors / apts5 / 4
Building TypeLow-Rise
RE Taxes$10,609
Price Per SF
$394

Building Amenities

  • Voice Intercom

Property Description for 303 West 116th Street

Radical price adjustment. Unique investment opportunity. All market rent building. Opportunity to develop additional 2000 SqFt . Great rental income from famous restaurant. 3 of four apts delivered vacant. (Month to month lease on the 4th apt). Owner motivated.Free market building on best West Harlem block. Steps to subways, Morningside and Central Parks. Highly successful restaurant (4 years remaining on lease) with four full floors above delivered vacant, no restrictions, tons of potential growth opportunities Three exposures and a roof with panoramic views.Excess unused FAR would allow for duplexing the top floor and adding private roof deck as well as a basement apartment with garden access. Unbeatable location next to Restaurant Row, Levain's Bakery, Harlem Tavern, Lido's, Best Yet Market, Bo's Bagels, Columbia University complex, Barnard, Theological Seminaries, St. Luke's Hospital, Cathedral of St John the Divine, farmer's markets, the list is endless. Tenants pay own heat and electric.

Listing History for 303 West 116th Street

Now
09/25/2020
Expired by Norman Horowitz
Brown Harris Stevens Residential Sales LLC
08/25/2020
$3,495,500 [-$299,500] [7.9%]
Price Drop by Norman Horowitz
Brown Harris Stevens Residential Sales LLC
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Building Details for 303 West 116th Street

OwnershipMulti-Family
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts5/4
Learn More About the Building

Transit and Citi Bike

Subway

116 St
0.05 miles
Cathedral Pkwy (110 St)
0.31 miles
116 St
0.37 miles
110 St-Malcolm X Plaza
0.44 miles
125 St
0.47 miles

Citi Bike

Frederick Douglass Blvd & W 117 St
0.06 miles
Frederick Douglass Blvd & W 115 St
0.06 miles

Contact Agents

Contact Agents

Norman Horowitz
Brown Harris Stevens
Adam Horowitz
Brown Harris Stevens

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.

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posted on November 16, 2023
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: 78874TH
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