1820 Madison Ave - Lancaster Madison 6,566 SF Retail Condo Unit in New York, NY 10035
PROPERTY FACTS
| Unit Size | 6,566 SF |
| No. Units | 1 |
| Total Building Size | 40,803 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Sale Type | Investment |
| Building Class | B |
| Floors | 8 |
| Typical Floor Size | 3,977 SF |
| Year Built | 2011 |
| Lot Size | 0.05 AC |
| Zoning | R7-2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Granite Countertops
- Stainless Steel Appliances
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Elevator
1 UNIT AVAILABLE
Unit 1201
| Unit Size | 6,566 SF |
| Condo Use | Retail |
| Sale Type | Investment |
| NOI | $419,167.49 CAD |
| APN/Parcel ID | 1745-1201 |
DESCRIPTION
The Heller Organization is engaged as the exclusive agent to offer for sale 1820 Madison Avenue in the East Harlem neighborhood of Manhattan (“Property”). This well-maintained commercial condominium encompasses 2 commercial tenants across approximately 6,566 gross square feet. The unit measures about 82' x 80'. The property is zoned C6 / E4.
Favorable layouts with open, mostly column-free space · All units feature at least one ADA bathroom · Each commercial unit contains individual hot water heater (cost passed to tenant) · Almost all annual expenses are passed on to the occupying tenants · Convenient proximity to Mt. Sinai Hospital campus · 25-year tax exemption in place running through 2038
SALE NOTES
LOW EXPENSES: Commercial tenants pay all their own expenses. Other than insurance, all costs associated with owning the unit are directly passed through to the tenants. All units have been recently upgraded with new medical office build-outs.
IMMEDIATE RENTAL UPSIDE: 100% of the commercial condo will be delivered leased to stable office tenants, allowing an investor to immediately capitalize on a strong existing stream of income. Medical and community tenants have shown to be more reliable and "recession proof" than other tenant classes.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 27 | - | - |
