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506-510 West 150th Street Manhattan $11,500,000
  • 43,200
  • $266
  • $185,483
  • 4.60%
    Cap Rate
506-510 West 150th Street 506-510 West 150th Street 506-510 West 150th Street 506-510 West 150th Street
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We are pleased to highlight the sale of 506 & 510 West 150th Street, two adjacent walk-up buildings located on the south side of West 150th Street between Broadway and Amsterdam Avenue. The properties combine for 62 residential units across approximately 43,200 square feet. The properties are currently renting at approximately $23.04 per gross square foot. Recent major capital improvements include a new gas boiler and burner, entry & vestibule doors, building wide gas piping, and backflow prevention and intercom systems (506 W. 150th St).  Future ownership will have the option to file for a J51 Abatement on 506 West 150th Street for the new boiler, burner, gas piping and entry doors.  The estimated total abatement is $55,000 which translates to $4,583 per year for 11 years.  The properties are located near the bustling Broadway retail corridor and surrounded by neighborhood anchors such as the City College of New York, New York Presbyterian Hospital and Columbia University.  Public transportation is easily accessible via the 1 train stop at 145th or 157th Street and Broadway or A, B, C and D train stops at St. Nicholas Avenue and 145th Street.

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