We are pleased to highlight the sale 102 Edgecombe Avenue. The subject property is a vacant ten (10) unit SRO, delivered with a certificate of non-harassment, located in the coveted Hamilton Heights area of West Harlem. The property boasts original details as the interior is full of decorative fireplaces and woodwork from the early 20th Century. Investors have the opportunity to upgrade the existing units and achieve rents at $55.00 a net sq. ft. Alternatively, an end-user can purchase this blank canvass and create their dream single-family home or convert this into a 2-10 family for live + income potential. Current ownership upgraded the roof last year and purchased a new boiler five months ago.
The property is situated just one block north of the B & C subway lines at 137th Street and Saint Nicholas Avenue. Residents can take advantage of a number of national retailers on 145th Street, including: Starbucks, Duane Reade, Chase Bank, and New York Sports Club. The building also benefits from its close proximity to major academic institutions such as Columbia University and its $6.3 billion Manhatanville Expansion Project and The City College of NY just five blocks west. Several newly planned or recently completed developments in the immediate area include: “The Edgecombe Assemblage” of three contiguous buildings which we sold to a developer consisting of two single family townhomes and a stunning church built in 1891 in the Gothic Revival Style at 112-116 Edgecombe Avenue, Striver’s Gateway at 272 West 139th Street on the historically acclaimed Striver’s Row just a block east, and The Residences at PS 186 at 526 West 146th Street, an old public school that was recently converted into 79 apartments. 102 Edgecombe Avenue represents a prime opportunity for investors and owner-users alike.
