Invictus Property Advisors is pleased to announce the closing of 468 West 145th Street, a vacant Single Room Occupancy (SRO) property located in the heart of Hamilton Heights.
The building, which contained 12 “B” units and 2 “A” units, required a full gut renovation. Delivered vacant, the property represents a rare repositioning opportunity in a prime uptown location.
Just steps from the A, B, C, and D subway lines and within walking distance of City College of New York, the property is well-positioned for redevelopment into either a traditional multifamily, programmatic housing, or a short-term rental model.
While SROs have long been associated with small rooms, shared facilities, and outdated infrastructure, their historical importance in New York City’s housing landscape cannot be overstated. They housed industrial workers in the early 20th century, provided refuge during the Great Depression, and reemerged during the homelessness crisis of the 1980s. Today, in the wake of Local Law 18, which restricted most short-term rentals, Class B SROs have gained renewed relevance thanks to their exemption from these limitations.
At 468 West 145th Street, Invictus Property Advisors successfully generated buyer interest despite the property’s distressed condition and identified an investor with the vision and capacity to unlock its long-term potential.
This closing underscores Invictus’s expertise in navigating complex SRO transactions and highlights the untapped opportunities that remain within this niche but increasingly relevant asset class.
