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  • 503 East 116th Street, East Harlem, New York
  • 503 East 116th Street, East Harlem, New York
  • 503 East 116th Street, East Harlem, New York
  • 503 East 116th Street, East Harlem, New York
  • 503 East 116th Street, East Harlem, New York
  • 503 East 116th Street, East Harlem, New York
  • 503 East 116th Street, East Harlem, New York
  • 503 East 116th Street, East Harlem, New York
  • 503 East 116th Street, East Harlem, New York
  • 503 East 116th Street, East Harlem, New York
  • 503 East 116th Street, East Harlem, New York
  • 503 East 116th Street, East Harlem, New York
Manhattan Townhouses for Sale
  • Square feet: 0 sqft
  • Lot Size: 25.00 sqft
  • Bedroom: 10
  • Bathroom: 9
  • Floors: 5

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503 East 116th Street, East Harlem, New York Real Estate

503 East 116th Street, New York, New York, 10035
$ 8,000,000
Keller Williams NYC has been retained on an exclusive basis to market this 9 Unit, 5 Story, walk-up apartment building in East Harlem. The property is located flush against the East River Plaza Shopping Mall. Completely renovated with new partitions, windows, bathrooms, kitchens and floors throughout. East Harlem's venerable cultural, dining, and recreational institutions just blocks away. Golf driving range and baseball batting cages right over the bridge.

East Harlem is a quickly gentrifying neighborhood in Manhattan, New York with high demand for both rental and condo inventory. The development activity in this area is robust and there has been a trend of prices steadily appreciating over the last several years. The area has extremely low residential vacancies and rare investment opportunities. A major contributor to the influx of residents and development has been the creation and expansion of the Second Avenue Subway Line which is planned to reach 125th St. This building is shown by appt. only.

Current Rent Roll 2017 (Way bellow market rates).

Apt 1 $2150
Apt 2A $1400
Apt 2B $1550
Apt 3A $1550
Apt 3B $1800
Apt 4A $1550
Apt 4B $1500
Apt 5A $1500
Apt 5B $1550

Total Monthly Income at current rates:$174,600 / Year
NOI 2016:$95,118.69/Year

Projected Total Monthly Income at present market rates: $255,960/ Year
Projected NOI: $155,000/ Year

Note: Current Rental Rates in East Harlem
The average listed rate for 1 Bdr in East Harlem is currently $2,339 and $2,618 for a 2 Bdr.

PUBLIC TRANSPORTATION

Public Transportation
103 Street (4,6 Line) Transit Stop
110 Street (4,6 Line) Transit Stop
116 Street (4,6 Line) Transit Stop
Central Park North (110 Street) (2,3 Line) Transit Stop

Commuter Rail
Harlem 125th St Metro-North Railroad Station (Hudson, Harlem, New Haven Lines) (1.1 miles) 6 min.
Yankees-E 153rd St Station Commuter Rail (Hudson Line) (2.6 miles)

Airport:
La Guardia (6.1 miles) 13 min.
Newark Liberty International Airport (26.2 miles) 37 min.
John F. Kennedy Liberty International Airport (15.4 miles) 31 min.
Nearby Shopping
East River Plaza Shopping Mall which is home to Costco, Target, Marshalls, Old Navy, Pet Smart, Bobs Discount Furniture, Planet Fitness, Aldi, Game Stop, Old Navy and others.

The information provided is considered to be correct, however, we make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided with respect but not limited to the income or expenses, the property size and square footage nor any other information contained hereinto.


Listing Courtesy of KWNYC Midtown
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program. Real estate listings held by IDX Brokerage firms other than Prime Manhattan Residential and are marked with the name of the listing Broker. All information provided is deemed reliable but not guaranteed.

Property information

  • Building Details
  • Elevator : Yes
  • Washer Dryer Allowed : No
  • Health Club : No
  • Concierge : No
  • Doorman : No
  • LobbyAttendant : No
  • Borough : NY  Manhattan 
  • BuildingAccess : Walk­up
  • Listing Details
  • Neighborhood : East Harlem
  • ListingStatus : Active
  • Listing Type : Exclusive
  • Pet Policy : Pets Allowed
  • Apartment Features
  • Air Conditioning Type : Multi-Zone, Unknown Type
  • Heat Type : Baseboard
  • Floor Has Laundry : No

Location

 

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Townhouses For Sale

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  • Doorman:
  • Building Features
  • Building Features:
      Bike Room
      Courtyard
      Fitness Facility
      Garage
      Garden
      Green Building
      Laundry Room
      LEED
      Playroom
      Pool
      Roof Deck
      Spa Services
      Storage
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  • Apartment Features
  • Apartment Features:
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      Live/Work
      Patio
      Private Garden
      Private Roof
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