ONE Commercial Realty Services has been retained on an exclusive basis for the sale of 550 West 149th Street. The subject property is a vacant nine (9) unit SRO, delivered with a certificate of non-harassment, located in the coveted Hamilton Heights area of West Harlem. The property boasts original details that a homebuyer will fall in love with—an interior that is full of seven (7) decorative fireplaces and woodwork from the early 19th Century. Investors have the opportunity to upgrade the existing units and achieve rents at $55.00 a net sq. ft. Alternatively, an end-user can occupy the renovated garden floor with private access to their own 850 sq. ft. backyard and receive strong cash flow by renting out the other units in the building.
The property is within walking distance to the 1 subway line at 145th Street and Broadway as well as the A, B, C & D subway lines at 145th Street and Saint Nicholas Avenue. Future ownership can take advantage of a number of national and local retailers on Broadway, including, among others, Harlem Public, The Chipped Cup, The Handpulled Noodle, The Honeywell, Mamasushi, Subway, Duane Reade, Chase Bank, Sprint, McDonald’s, Footlocker, AT&T, GNC & New York Sports Club. The property also benefits from its proximity to major academic institutions, such as Columbia University and its $6.3 billion Manhatanville Expansion Project, and City College of New York.
About ONE Commercial
Powered by a highly skilled team, ONE Commercial is one of New York’s preeminent full-service commercial real estate firms, priding itself in providing best in class services to our clients on a consistent basis and is one of the preferred brokerage throughout New York City. With localized knowledge of each of New York City’s geographic areas, our professional brokers provide very specific market knowledge and industry expertise to investors and owners alike. As a result, we achieve superior results for our clients.