Adelaide Polsinelli, Vice Chairman of Compass, a publicly traded, technology-driven, real estate platform, has been exclusively retained to market for sale a package of multifamily buildings in West Harlem. The buildings are ideally located just north of Central Park, with easy access to all transportation.
The properties contain approximately 45,000 square feet and 56 large apartments. The buildings consist over of 150’ of generous frontage. With a low average rent of under $1200 per month, and a substantial amount of in place development rights, the package offers excellent value, on many levels.
The area has been booming with new condominium development and an influx of student
population. The new residential developments sprouting up in every direction are a magnet for attracting bright new talent to the area. Strong local demand can be seen in the surrounding area’s tight vacancy rate. Rents in the area have exceeded their pre-pandemic rates. The population of new renters searching for value has grown significantly.
“This package offers buyers a steady investment with consistent, long-term, cash flow,”
Polsinelli commented. “The property will be sold for far less than replacement value” Polsinelli added.
“For any investor seeking a once in a cycle opportunity to build generational wealth, this is the perfect deal,” concluded Polsinelli.
