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Newly Built East Harlem Residential Comes to Market
Avison Young’s Tri-State Investment Sales group is marketing for sale 2147 Second Ave., a newly-constructed, nine-story, elevator building in East Harlem comprised of 16 residential units and ground floor retail. The asking price is $10.85 million.
An Avison Young team led by principal James Nelson, along with associate director Sam Shertz and associate Allan Fries, is marketing the property on behalf of the owner, Hillside Parsons LLC.
“This core-plus, turn-key property offers substantial cash flow and significant potential upside,” Nelson said. “In addition, the recent East Harlem Rezoning, which was approved in 2017, should serve as a catalyst for the neighborhood’s continued growth and revitalization. As a result, we anticipate high interest in this building from a variety of investors.”
The property features 25 feet of frontage; its apartments and retail are all fully-leased. The building also benefits from the 421(a) tax abatement program currently in place.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
