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255 W 121st St

12 Unit Apartment Building For Sale New York, NY 10027

Investment Highlights

  • Loan Aquisition at Low Basis
  • 100% Fair Market Units
  • Close to Columbia University
  • Newly Renovated Buildings
  • High Growth Rental Market
  • Close to Public Transportation

Executive Summary

CBRE is pleased to offer for sale the nonperforming loan (the "Loan") collateralized by 255 West 121st Street and 269 West 134th Street (the “Properties” or "Collateral"), two recently-renovated, market-rate multifamily properties located in Manhattan's Central Harlem submarket. The Properties feature a combined total of 12 residential units across over 6,964 gross square feet. 255 West 121st Street features (2) 2-bedroom units and (4) studio units, while 269 West 134th Street features (1) 2-bedroom unit, (1) 1-bedroom unit, and (4) studio units. Major renovations to both properties were undertaken circa 2018, with new certificates of occupancy issued in Q1 2019. Both properties feature high-quality stainless steel appliances, premium finishes, and fully remodeled bathrooms. Select units also include highly desirable amenities such as in-unit washer-dryers, dishwashers, and private balconies. The Loan was originated in October 2018 by Signature Bank and is currently non-performing following a monetary default.

Property Facts

Sale Type Investment
No. Units 12
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class B
Lot Size 0.04 AC
Building Size 6,964 SF
No. Stories 4
Year Built/Renovated 1910/1986

Unit Amenities

  • Balcony
  • Dishwasher
  • Washer/Dryer
  • Kitchen
  • Oven
  • Stainless Steel Appliances
  • Range
  • Tub/Shower

Site Amenities

  • 24 Hour Access
  • Fenced Lot
  • Walking/Biking Trails
  • Public Transportation
  • Walk-Up

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 4 - -
2+1.5 1 - -
3+1.5 1 - -
Walk Score ®
Walker's Paradise (97)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (85)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1927-0110
Land Assessment
$18,917 CAD
Improvements Assessment
$555,403 CAD
Total Assessment
$574,320 CAD

zoning

Zoning Code R7A
R7A
  • Listing ID: 33671270

  • Date on Market: 2024-10-29

  • Last Updated:

  • Address: 255 W 121st St, New York, NY 10027

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