Multifamily Property at 510 West 144th Street

The New York Multifamily Team at Marcus & Millichap is pleased to offer 510 West 144th Street, in the heart of Harlem. This meticulously maintained elevator building is comprised of 44 apartments, 11 of which are free-market. Spanning 41,420 square feet, this asset is situated in prime Upper Manhattan between Hamilton Place & Broadway, right off Amsterdam Avenue. With 25% of the units free market and a single rent- controlled two-bedroom apartment, the property provides investors with both immediate and long-term upside. 510 West 144th Street has been professionally managed, owned, and operated by the same family office for nearly 30 years.

THE OPPORTUNITY

Professionally Managed Legacy Asset: This 44-unit elevator building has been professionally managed, owned and operated by the same family office for nearly 30 years, offering investors a unique opportunity to acquire a legacy asset in a highly desirable submarket of Upper Manhattan.

• 510 West 144th Street is 25% free market with 11 of 44 units providing a clear path to rent growth.
• There is also one rent-controlled 2 bedroom apartment, presenting investors with potential long-term upside.
• 7.67% Cap Rate | 6.1x GRM | $145 per square foot
• 510 West 144th Street is conveniently located near the 145th Street D & 1 Subway Lines, The City College of NY, and Montefiore Hospital.