Invictus

21,600
SF
30
Units
6.0%
Cap Rate
$259
PPSF
$226,575
ANNUAL TAX BILL

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INVESTMENT HIGHLIGHTS

OPPORTUNITY OVERVIEW
Invictus Property Advisors has been retained on an exclusive basis for the sale of 203 West 144th Street, a mixed-use building located in Upper Manhattan positioned between Adam Clayton Powell Jr. Boulevard and Frederick Douglass Boulevard.

Building Configuration
The building contains 30 units, of which 28 are residential and two are commercial. Sixty percent (60%) of the residential units are free market and 40% are rent-stabilized. The two commercial units are leased to a florist and hair braiding and accessory shop.

Substantial Rental Upside
Seventeen of the free market units have significant upside upon tenant turnover. If a tenant vacates their unit, an owner can charge market rate rent after renovations are performed. Rents for renovated units in the immediate area are achieving $60 on a net square foot basis.

Opportunity Zone
203 West 144th Street is located in an Economic Opportunity Zone.

Location Overview
Positioned near Harlem’s iconic cultural landmarks, as well as a variety of dining and shopping options, this property benefits from high tenant demand in an increasingly sought-after neighborhood. Overall, this asset is ideally suited for investors seeking a stable income-producing property with considerable growth potential.

Proximity to Public Transportation
With immediate proximity to the 145th Street subway station on the 3 line, the building enjoys excellent connectivity, appealing to tenants who value convenience and urban accessibility.

Manhattan Mixed-Use

INVESTMENT HIGHLIGHTS

exclusive agents

Josh Lipton

Andrew Levine

Andrew Blum

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