$1,279,900
Updated 2 years ago
Off Market

51 East 126th Street

East Harlem, Manhattan | Madison Ave & Park Ave

3,812 Square FeetIncome Property

$1,279,900
floors / apts4 / 7
Lot Size25'x100'
Built Size25'x60'
ZoneR7B
Building TypeLow-Rise
RE Taxes$24,672
Price Per SF
$336

Building Amenities

  • Voice Intercom

Property Description for 51 East 126th Street

Douglas Elliman is excited to offer an enticing investment opportunity in an Opportunity Zone at 51 East 126th Street, located in East Harlem between Park and Madison Avenue. This brownstone boasts a generous building size of 3,812 square feet, standing 4 stories, 25 feet wide and 60 feet deep on a 25 x 100-foot lot.

Featuring approximately 7 units, this building promises a blend of space and potential. Zoned R7B, it offers a substantial unused FAR of 3,672. The current annual property taxes are set at $24,675. Priced at $1,299,000 for an immediate sale and delivered in as is condition. The seller's attorney has issued eviction notices to all occupants, marking the initial phase of the eviction process. Prospective buyers are advised to conduct thorough due diligence, including verifying unit mix and rent details with the Division of Housing and Community Renewal (DHCR). Additionally, the buyer will be responsible for settling delinquent real estate taxes, transfer taxes, assessments, outstanding violations, and unpaid utility bills. The seller will cover only the real estate broker fees. Cash offers only.

Located just one block from the 125th Street commercial hub, this property offers unparalleled access to multiple transit options including the 2, 3, 4, 5, 6 subway lines, Metro North, and a range of bus lines (M1, M101, M15-SBS, M60-SBS, M102, M2, M7). Additionally, it's in close proximity to key amenities like Whole Foods, Trader Joe's, Target, and a vibrant selection of shops, services, bars, and restaurants such as Red Rooster, Sylvia's, Corner Social, and more. With several new development projects on both sides of the block, and the upcoming Second Avenue Subway Phase Two, it's an ideal time to invest.

Listing History for 51 East 126th Street

Now
04/19/2024
Expired by Brian A. Phillips
Douglas Elliman
2024

Building Details for 51 East 126th Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1909
Floors/Apts4/7
Learn More About the Building

Transit and Citi Bike

Subway

125 St
0.17 miles
125 St
0.34 miles

Railroad

Harlem-125 StMetro-North Railroad
0.07 miles

Citi Bike

E 128 St & Madison Ave
0.09 miles
Park Ave & E 124 St
0.12 miles

Contact Agents

Contact Agents

Brian Phillips
Douglas Elliman
Edward Lee
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: 93323TH