175 E 105th St

Ariel Property Advisors has been retained on an exclusive basis to arrange the sale of 175

East 105th Street, a 25’ wide, 11,540 SF, 5-story mixed-use walk-up building located on

the north side of East 105th Street between Lexington Avenue and Third Avenue in East

Harlem.

The subject property contains 13 residential units and 1 commercial unit, with the

residential unit mix consisting of all spacious two-bedroom apartments. Of the 13

residential units, 3 apartments are of free market status and 10 are rent-stabilized. Freemarket

units underwent substantial renovations and are in excellent shape.

Building-wide renovations include new gas lines, new hot water tank, new windows,

new front door, new intercom and security cameras. The commercial space features

soundproofed ceilings and an upgraded air conditioning system. Major Capital

Improvements (MCI) are pending in the amount of approximately $100,000. The current

occupancy rate is 100%, providing stable cash-flow and good financing opportunity.

175 East 105th Street is located in a rapidly expanding neighborhood with several major

developments underway. Sendero Verde, a planned 698-unit mixed-use housing complex

featuring a YMCA and healthcare center, is situated a short walk away. Other high-end

residential projects include 12-story luxury development at 1998 Second Avenue and The

Huxley, a 9-story boutique condominium located at 1834 Third Avenue. The historic Corn

Exchange Building was recently revitalized, 404-unit One East Harlem is completed, and

the 140,000 SF state-of-the-art New York Proton Center opened in June of 2019.

The subject property enjoys convenient access to lower Manhattan and the outer

boroughs via the 6-train subway station, which is two blocks away on East 103rd Street

and Lexington Avenue. The asset is also well positioned to benefit from the eventual

completion of the 2nd Avenue Subway expansion, which will have a subway station at

East 106th Street.

175 East 105th Street presents investors with the opportunity to acquire a well-maintained

cash-flowing asset in an appreciating neighborhood of Northern Manhattan. For more

information, please contact the exclusive sales agents.