255 W 121st St
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255 W 121st St
12 Unit Block of Flats 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 | Building Class | B |
| No. Units | 12 | Lot Size | 0.04 AC |
| Property Type | Residential | Building Size | 6,964 SF |
| Property Subtype | Apartment | Number of Floors | 4 |
| Apartment Style | Low Rise | Year Built/Renovated | 1910/1986 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.04 AC |
| Building Size | 6,964 SF |
| Number of Floors | 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 | - | - |
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Walk Score ®
Walker's Paradise (97)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 1927-0110 | Improvements Assessment | £313,128 |
| Land Assessment | £10,665 | Total Assessment | £323,793 |
PROPERTY TAXES
Parcel Number
1927-0110
Land Assessment
£10,665
Improvements Assessment
£313,128
Total Assessment
£323,793
zoning
| Zoning Code | R7A |
| R7A |
-
Tyler Barr -
Jack Howard -
Robert Shapiro -
Nicholas Kontos -
CBRE
(212) 984-8000
x1635
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255 W 121st St
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