Turnkey 29-Unit New Construction Multifamily with 421a Tax Abatement

233 W 154th St, New York, NY 10039

Property Information

  • For Sale $160,000,000
  • Property Type Multi-Family
  • Property Size 29,395 SF
  • Units 29
  • Lot Size 0.13 Acre
  • Cap Rate % 5.99
  • Taxes / YR $75,634.00
  • Zoning R7-2
  • # of Floors 7
  • Year Built 2021
  • Date Updated May 1, 2026

Description

Investment Highlights

• Completed in 2024, this 7-story boutique elevator building features 29 brand-new residential units, offering an investor a truly turnkey asset with modern mechanicals and zero deferred maintenance
• The building benefits from a 35-year 421a tax abatement in place until 2059, ensuring significantly lower taxes and high predictability, protecting your bottom line for decades
• Designed to attract premium renters, every unit features condo-level finishes and in-unit washer/dryers. Some apartments feature private outdoor space. The building offers tenant amenities including a fully equipped fitness center, a furnished rooftop terrace with city views, a recreation room, secure bike storage, tenant storage lockers, and a virtual doorman
• Strategically positioned in a prime Upper Manhattan location. Tenants enjoy immediate access to the lush greenspace of Jackie Robinson Park, neighborhood dining hotspots, and the Harlem River waterfront
• Highly accessible for commuters, located just blocks from major transit hubs including the 3, A, B, C, and D subway lines, ensuring a rapid and seamless commute into Midtown Manhattan

 

Located in Manhattan’s Central Harlem neighborhood, the subject property is conveniently situated just a short walk from the 155 Street subway station, providing easy access to the B and D lines.

Contacts

Sam Schertz

Ariel Property Advisors

Gabriel Elyaszadeh

Ariel Property Advisors

Jason M. Gold

Ariel Property Advisors

Location

Located at 233 W 154th St, New York, NY 10039, this property is part of the Harlem neighborhood and Manhattan market.

Contact Turnkey 29-Unit New Construction Multifamily with 421a Tax Abatement
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