GFI Realty Services has been hired to market 2918 Frederick Douglass Blvd., a four-story Central Harlem multifamily building with 12 free-market units. The firm’s Yehoshua Shamel will oversee the marketing of the property, with pricing targeted at $5.65 million.
Constructed in 1920, the recently gut renovated building totals 7,700 square feet, and is composed of 12 two-bedroom units. The property benefits from its proximity to public transit, several parks and a variety of restaurants and stores.
“Upper Manhattan continues to have significant demand on its residential inventory,” said Shamel. “In light of recent rent laws, there is significant demand for free-market, gut renovated assets of this type.”
GFI notes that Central Harlem has experienced rapid residential and retail growth in the past two decades since the city’s rezoning efforts.
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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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