542 Cathedral PkwyNew York, NY 10025

Property Details for 542 Cathedral Pkwy

Year built

1985

Property size (Sq ft)

4,565 SF

Property type

Apartment buildings

Description

This exceptional three-unit apartment building at 542 Cathedral Parkway presents a unique investment opportunity in the coveted Morningside Heights Historic District of New York City. The 25-foot-wide building, constructed in 1985 and expanded in 1991, boasts 4,565 square feet and offers three spacious free-market apartments, each equipped with its own hot water heater, washer/dryer, and electric range. Baseboard heating and wall-mounted air conditioners provide climate control. A finished lower level adds an additional 800 square feet of rentable space, enhancing income potential. Tenants are responsible for their own heat and electricity, minimizing maintenance for the owner. The building's true potential lies in its significant air rights. With approximately 11,520 square feet of unused air rights, there's substantial opportunity for expansion, allowing for the addition of stories or even a completely new structure. This prime location, just a block from Riverside Park and steps from the 110th Street subway station, offers unparalleled convenience and accessibility. Nearby attractions include Morningside Park, Columbia University, Mount Sinai St. Luke's Hospital, and Central Park. The proximity to Columbia University makes this an ideal property for student housing or faculty residences. This is a rare chance to acquire a well-maintained multifamily building with exceptional growth potential in one of Manhattan's most desirable neighborhoods. The asking price is $4,950,000.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.8036

Longitude

-73.9657

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].