Multi-family

With a balanced unit mix, consistent tenant demand, and proximity to Harlem’s retail corridors and transit hubs, this property offers both stable cash flow and long-term appreciation potential.

Key Features

• Total Units: 31
• Stories: 5
• Gross Building Area (GBA): 31,020 SF
• Typical Floor Size: 1,815 SF
• Year Built: 1900
• Class: C (2-Star Mid-Rise Apartments)
• Lot/Area Density: ≈171 units per acre
• # of Buildings: 1
• Rent Type: Market

Financial Profile

• Asking Price: $6,200,000
• Price per Unit: ≈$116,981
• Cap Rate: Buyer to underwrite
• Market Segment: All residential tenants
• Income Source: Market-rate rents

Market Profile

Location Advantage: Situated in Central Harlem, a neighborhood experiencing strong residential and retail growth. The property benefits from proximity to Central Park North, Columbia University expansion, and major subway lines (2/3, B/C).

Neighborhood Demand: Harlem continues to attract both institutional and private investors, with rising rental demand supported by population growth, cultural institutions, and new development.

Competitive Advantage: A rare chance to acquire 31 units under one roof at a competitive price per unit, with portfolio scalability.

Summary

The 31-unit, 31,020 SF multifamily property at 112–116 W 114th Street, New York, NY 10026 is offered at $6,200,000 (~$116,981/unit). With its Central Harlem location, stable market-rate tenancy, and long-term appreciation upside, this asset represents a compelling opportunity for investors seeking scale and growth in Manhattan.