Lenox Powell Portfolio

2228 Adam Clayton Powell Jr Blvd, New York, NY 10030

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Property Information

  • For Sale $7,100,000
  • Property Type Multi-Family
  • Property Size 45,052 SF
  • Units 59
  • Lot Size 0.26 Acre
  • Building Class C
  • Year Built 1910
  • Date Updated Apr 23, 2025

Description

Lenox Powell Portfolio includes the following 3 properties:

  • 115 West 137th Street 
  • 119 West 137th Street 
  • 2228 Adam Clayton Powell Jr. Blvd

Package of three (3) post year-15 LIHTC, buildings located in Central Harlem.

Portfolio consists of 59 residential units and two (2) commercial units.

All properties benefit from a long-term J51 Tax Exemption and Abatement and a 610 Amendment.

Approximately $6.1M in accretive assumable financing that matures in 2038.

64% of existing capital stack consists of interest-only or non-paying debt.

Portfolio benefits from a 610 Amendment to the existing regulatory agreement allowing for significant revenue growth.

Easy access to public transportation, located two blocks away from the 2 and 3 train station.

One new construction building and two properties that underwent adaptive reuse renovations. 

 

Contacts

Victor Sozio

Ariel Property Advisors

Jake Brody

Ariel Property Advisors

Location

Located at 2228 Adam Clayton Powell Jr Blvd, New York, NY 10030, this property is part of the Harlem neighborhood and Manhattan market.

  • 97/100 Walker's Paradise
  • 100/100 Rider's Paradise
  • 70/100 Very Bikeable
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