2299 Adam Clayton Powell Jr BlvdNew York, NY 10030

Property Details for 2299 Adam Clayton Powell Jr Blvd

Year built

1926

Lot size

0.04 AC

Property size (Sq ft)

8,585 SF

Zone code

R7-2

Property type

Retail residential properties

APN

01919-0060

APU

19190060

Description

This exceptional mixed-use property, located at 2299 Adam Clayton Powell Jr. Boulevard in the vibrant heart of Central Harlem, New York, NY 10030, presents a compelling investment opportunity. The five-story building boasts a total of 9,731 square feet, with 7,476 square feet of net rentable space, currently housing 23 units. The asking price is $2,900,000, translating to a price per square foot of $298 and a price per unit of $126,087. The property enjoys a strong 7.56% capitalization rate, generating a net operating income (NOI) of $219,201. Situated on a 1,869 square foot lot zoned R7-1 / C1-4, this well-maintained building benefits from high pedestrian traffic on a corner location, just blocks from the coveted Strivers’ Row. Strong commercial tenants contribute significantly to the income stream, achieving a combined rent of $99 per square foot. Further income is generated by a roof-mounted antenna. The property's prime location offers easy access to The City College of New York, Columbia University, and St. Nicholas Park, along with convenient access to public transportation, including the 2 and 3 trains at the 135th Street station just one block away. This is a rare opportunity to acquire a well-performing mixed-use asset in a rapidly appreciating area of Manhattan.

• CAP approach

  CAP return

  Valuation

  6%

  $1,760,003

  6.5%

  $1,624,618

  7%

  $1,508,574

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,738,660

  Geo Method

  $1,738,660

• Alternative Use

  Use

  Valuation

  Residential

  $1,624,618

  Hospitality

  $1,488,141

  Educational

  $1,238,116

  Medical

  $1,280,697

  Retail

  $1,925,958

Location Insight

City

New York

County

New York

State

New York

Latitude

40.815

Longitude

-73.9435

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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].