Updated 10 days ago
Off Market
255 West 136th Street
Harlem, Manhattan | Adam Clayton Powell Blvd & Frederick Douglass Blvd
20 Rooms6 Beds8 Baths3,200 Square FeetIncome Property
$2,895,000
floors / apts4 / 8
Lot Size16'x99'
Built Size16'x50'
ZoneR7-2
Building TypeTownhouse
RE Taxes$12,984
Price Per SF
$905
Listing Features
- Architectural Dtls
Outdoor space and views
- City Views
Building Amenities
- Voice Intercom
- Garden
- Laundry Room
Property Description for 255 West 136th Street
8-Unit Free-Market Brownstone Immediate Upside 6.37% In-Place 8.02% Pro Forma Strivers' Row, Harlem
Immediate NOI upside within 60-90 days through near-term lease rollover.
255 West 136th Street presents a rare opportunity to acquire a fully renovated, turn-key 8-unit free-market multifamily asset in the heart of Central Harlem's historic Strivers' Row.
This four-story 1910 brownstone combines classic architectural charm with modern upgrades, offering immediate income with strong upside. The property is currently generating a 6.37% in-place cap rate, with a clear path to an 8.02% pro forma cap rate through near-term lease rollover and market alignment.
The building features a well-balanced mix of studio and one-bedroom residences, all thoughtfully updated with:
Hardwood flooring and high ceilings
Renovated kitchens with stainless steel appliances
Modern bathrooms
Central heating and cooling
On-site laundry for additional tenant convenience
This Brownstone townhouse is 100% free-market and benefits from low operating expenses, making it an ideal long-term hold or yield-driven investment.
With leases expiring in the coming months, an investor can begin increasing rents almost immediately, accelerating NOI growth and achieving pro forma performance within a short timeframe.
Located on a quiet, tree-lined block within the Strivers' Row Historic District, the property is surrounded by strong rental demand and is moments from major transportation, parks, dining, and cultural institutions-ensuring continued tenant appeal and long-term value growth.
Investment Highlights:
8 Free-Market Units (No Rent Stabilization)
6.37% Current Cap Rate
8.02% Pro Forma Cap Rate
Immediate Mark-to-Market Opportunity
Turnkey, Renovated Asset
Strong In-Place Income with Near-Term Upside
Prime Central Harlem Location
Why This Deal Stands Out:
Opportunities to acquire fully free-market, renovated brownstones in Manhattan at a 6.4% current yield with a clear path to 8%+ are extremely limited-especially with this level of near-term control over income growth.
A rare chance to secure a cash-flowing asset with immediate yield and strong forced appreciation potential.
Viewings by appointment only. Full financials and offering memorandum available upon request.
Listing History for 255 West 136th Street
Now
08/12/2026
POM by Sara Golan
Serhant LLC
04/08/2026
$2,895,000
Initial Price by Sara Golan
Serhant LLC
Building Details for 255 West 136th Street
OwnershipIncome Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts4/8
Transit and Citi Bike
Subway
135 St
0.15 miles
135 St
0.29 miles
Citi Bike
Frederick Douglass Blvd & W 139 St
0.14 miles
Adam Clayton Powell Blvd & W 138 St
0.14 miles
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: 68238TH
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