51 East 126th Street,
Manhattan,
NY
10035
Douglas Elliman is excited to offer a unique investment opportunity with this bank-owned property in an Opportunity Zone at 51 East 126th Street, situated in East Harlem between Park and Madison Avenue. This fully occupied brownstone, with a footprint of 3,812 square feet across 4 stories, 25 feet wide and 60 feet deep on a 25 x 100-foot lot, accommodates approximately 7 units. Despite its current full occupancy, there's a possibility for the building to be delivered vacant or nearly vacant if a significantly above-list price offer is received.
Zoned R7B, the property boasts a considerable unused FAR of 3,672. Prospective buyers are encouraged to conduct thorough due diligence, including confirming unit mix and rent details with the Division of Housing and Community Renewal (DHCR). The buyer will be accountable for any outstanding real estate taxes, assessments, violations, liens, unpaid utility bills, and seller transfer taxes at the time of closing.
Located just one block from the 125th Street commercial hub, this property offers unparalleled access to multiple transit options including the 2, 3, 4, 5, 6 subway lines, Metro North, and a range of bus lines (M1, M101, M15-SBS, M60-SBS, M102, M2, M7). Additionally, it's in close proximity to key amenities like Whole Foods, Trader Joe's, Target, and a vibrant selection of shops, services, bars, and restaurants such as Red Rooster, Sylvia's, Corner Social, and more. With several new development projects on both sides of the block, and the upcoming Second Avenue Subway Phase Two, it's an ideal time to invest.
