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East Harlem Apartments Up for Sale as Turnkey Investment
JLL Capital Markets has been hired to sell 308 E. 109th St. in the East Harlem neighborhood. ABR Builders is asking $15.25 million for the eight-story property, which includes 20 apartments and ground-floor retail.
A team of Hall Oster, Tom Gammino, Conrad Martin, Teddy Galligan, Chris Skitch, Jeremy Simon, Braedon Gait and Connor Murphy is handling the assignment. “This is a turnkey investment opportunity in a neighborhood primed for continued growth due to the recent rezoning and the next phase of the Second Avenue subway expansion,” said Oster.
The new subway line’s second phase is slated for completion in 2029, and its opening is expected to spur residential and retail growth in the neighborhood. 2029 is also the year in which the property’s 15-year 421-a tax abatement expires, and all residential units will become market-rate.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
