Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of the 16-unit, multifamily building located at 542 West 147th Street. Occupying a premier location in the Hamilton Heights neighborhood of northern Manhattan, this multi-family building offers investors an opportunity to own and operate a cash flowing asset.
542 West 147th Street is a 70% free market residential building that totals ± 12,575 square feet. The building was recently renovated which highlight stainless steel appliances and in unit washer/dryers. This offering is comprised of three 2-bedroom apartments, six 3-bedroom apartments, and seven 3-bedroom apartments. This property is currently being rented at below market levels, allowing prospective buyers the ability to increase rents.
Current and future tenants benefit from the building’s close proximity to the Broadway and Amsterdam Avenue retail corridors which includes neighborhood gems such as The Chipped Cup, The Handpulled Noodle, and Harlem Public. There are many other attractions in the surrounding area including The City College of New York, Riverbank State Park, the Hamilton Grange National Monument, and Dance Theatre of Harlem. Public transportation is easily accessible via the 1, A, B, C, and D subway lines as well as numerous bus lines that service the area.
