1516 Park Ave New York, NY 10029

This exceptional 12-story, 59-unit apartment building in East Harlem, New York, offers a compelling investment opportunity with a 5.00% capitalization rate. Built in 2023, the property boasts a mix of studio, one-bedroom, and two-bedroom apartments, many featuring private patios or balconies. Modern interiors include high-end appliances, in-unit washers and dryers, and smart climate control. Residents enjoy access to a rooftop terrace, fitness center with yoga and dance studios, business center, media room, community spaces, bike storage, package lockers, valet trash service, and 24/7 doorman and concierge service. A significant 10,000 square feet of ground-floor retail space is fully leased, providing substantial income. The building also includes shared terraces on the second and twelfth floors. Located near the 110th Street subway station, this property benefits from a 36-year tax abatement and proximity to Central Park, museums, and diverse dining and entertainment options. The building includes 18 affordable housing units. This is a prime investment in a rapidly developing neighborhood. The property is fully leased.