Investment Overview

THE OFFERING New York Multifamily is pleased to offer the sale of 24 East 125th Street, located in prime East Harlem between 5th and Madison Avenues. Comprised of 3,920 square feet, this 5-unit property includes four apartments and one retail space, which is currently occupied by a women’s apparel and jewelry boutique. In 2006, the building was fully gut renovated and is currently receiving J-51 tax benefits. 24 East 125th Street has been professionally owned and operated by the same partnership for over 20 years and has only 1 HPD violation. The building is conveniently located near Marcus Garvey Memorial Park, the Harlem 125th Street subway station & Whole Foods Market. THE OPPORTUNITY The Building: 24 East 125th Street spans 3,920 square feet and is comprised of 1 studio, 1 one-bedroom, 2 two-bedroom and one commercial tenant on the ground floor occupied by a women’s apparel and jewelry boutique. Low Taxes: In 2006, the building was fully gut renovated and currently receiving J-51 tax benefits. The J-51 abatement and exemption began in 2010. The abatement runs 15 years and is set to expire in 2025 whereas the exemption runs for 34 years an keeps the taxable basis low until 2044. Tax Class Protected: This building is tax class 2A. The assessed value cannot increase more than 8% from the prior year or 30% over 5 years. Prime Location: 24 East 125th Street is well located near Marcus Garvey Memorial Park, the Harlem 125th Street subway station, and Whole Foods Market.