COMPARABLE MARKET REPORT 887 SAINT NICHOLAS AVENUE, NEW YORK, NY 10032 AUGUST 17, 2017 Robert "Robb" Pair President, Harlem Lofts, Inc. 272 Lenox Avenue @ 124th Street Direct Dial: 917.791.6986 O: 212.280.88664 Manhattan Association of Realtors (MANAR) Real Estate Board of New York (REBNY)
FOR SALE BY HARLEM LOFTS SUGAR HILL TOWNHOUSE 887 SAINT NICHOLAS AVENUE, NEW YORK, NY 10032 This beautiful, 22-foot wide by 52-foot deep, 4500 + square foot, 3-story, brick, landmarked townhouse sits back on a 90-foot lot in the Hamilton Heights/Sugar Hill Historic District.. This gracious house with great light and original details throughout (including original floors, staircase, doors, moldings and fixtures) has all systems in working order, and is in habitable condition. It is conveniently located near subways, parks, Columbia Medical Center, new cafes, businesses and supermarkets. Formerly the fraternity house of the storied Alpha Phi Alpha (Alpha Gamma Lambda Chapter), 887 Saint Nicholas presents an excellent opportunity for either an investor or homeowner to renovate and restore. Delivered Vacant with CONH in place and ready for renovation. Building: 22 X 52 Stories: 3 plus above ground basement Basement: Full Height, Windowed, Garden Level Building Sq Ft: 4576 Current FAR: 2.31 Lot: 22 X 90 Lot Sq Ft: 1980 Max FAR: 3 Tot Avail Sq Ft: 5940 Air rights: 1364 Use: SRO w/ CONH CONH Issued to Owner Historic Dist.: Y Zoning: R6A R.E. Taxes: $5,643 * taxes before Star Exemption STARTING BID: $600,000 NOTE: In a joint-venture with Ten-X. Auction commences October 9, 2017. Please email sales@harlemlofts.com for full offering details. 272 Lenox Avenue * New York, New York 10027 * www.harlemlofts.com * P: 212-280-8866 * F: 212-937-3351 Harlem Lofts, Inc. Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
CURRENT MARKET VALUE ANALYSIS SUBJECT PROPERTY floors width lot depth sq ft Condition Use 887 Saint Nicholas Ave, NY, NY 10032 4 22 90 52 4,576 ok SRO w/conh CURRENT MARKET SNAPSHOT SOLD Sold Price Date Floors Width Lot Bld Depth Sq Ft Condition $/sq ft Use SRO 52 Hamilton Place CONH granted after closing but applied for before closing $1,512,500 12/21/2016 4 18 74 50 4948 needs reno $306 SRO 27 Hamilton Terrace No CoNH. Looks like SRO but unclear from icard/co $2,000,000 6/20/2017 4 17 70 50 4760 needs reno $420 SRO 412 W 145 Street sold at bcy auction $2,081,235 1/11/2017 4 16 100 61 3950 needs reno $527 SRO 420 W 150 Street needs reno. Vacate order on bldg. $1,600,000 4/19/2017 4 17 82 49 3950 needs reno $405 SRO 885 Saint Nicholas no recently recorded sale 883 Saint Nicholas no recently recorded sale AVG: $1,998,956 17 52 3,468 $499 SOLD AVG SRO PRICE: $414 1-3 FAMILY VACANT 145th not included 850 Saint Nicholas reno tons of detail $3,395,000 11/9/2016 5 23 76 53 5963 new reno $569 1-family 554 W 162 St brand new renovated $2,350,000 2/22/2017 4 18 100 52 3744 new reno $628 3-family 515 W 144 St brand new renovated $2,450,000 6/5/2017 4 17 100 51 3468 new reno $706 2-family 243 West 139 Street estate. Detail. Needs reno $2,110,000 4/8/2016 4 18 100 51 3672 ok $575 1 family w/garage 209 West 139 Street excellent detail. Needs reno $2,250,000 2/23/2016 4 19 100 60 4560 fair $493 1 family w/garage AVG: $2,511,000 19 53 4,116 $601 ON THE MARKET Asking Price DOM Floors Width Lot Bld Depth Sq Ft Condition $/sq ft Use 912 Saint Nicholas Avenue vacant needs full reno has CONH $1,725,000 103 4 17 100 50 3,400 poor $507 SRO 554 W 161 Street Vacant. Needs renovation $1,850,000 16 4 16 100 50 3,600 needs reno $514 2-Family 533 West 162nd Street 8 units vacant. 5 occupied $1,450,000 84 4 20 100 48 3,840 ok $378 SRO 517 West 152nd Street vacant with side lot. $3,500,000 60 4 20 100 70 4,995 mint $701 3-family 594 W 152nd Street $1,995,000 62 5 16 75 52 3,328 good. Detail $599 1-family 248 West 138th Street reno w/ garage, 1st flr commercial $4,000,000 238 4 22 100 57 5,016 excellent $797 2 fam/garage AVG: $2,420,000 22 57 4,030 $797 SUBJECT PROPERTY INCOME AND EXPENSE DETAIL INCOME DETAIL EXPENSES DETAIL Unit Market Rents Monthly Yearly Yearly $ rent /sq ft Current Rents Current RE Taxes $5,643 market rate rentals $32 $12,203 $146,432 Insurance $5,000 Gross Income: $12,203 $146,432 Water/Sewer $3,200 Expenses: ($31,593) Repairs $7,500 NOI: $114,839 5% Management $7,322 2% Vacancy $2,929 Total: $31,593
COMPARABLE PROPERTIES SOLD 1-FAMILY SRO SRO 850 Saint Nicholas, NY, NY 10031: Sold for $3,395,000 on 11/09/2016. It is an approx. 5,000 square-foot, 5-story, 1-family home. Built 22.5 x 53 on a 76 deep lot. At time of closing, it was in very good condition with tons of original detail and premium finishes and craftsmanship. 27 Hamilton Terrace, NY, NY 10031: Sold for $2,000,000 on 6/20/2017 It is approximately 4,2700 square foot, 4-story SRO townhouse built 17 x 50 on a 70 deep lot with no CONH on file. The purchasers filed permits for complete demolition of interior partitions and renovation of building. 420 W 150 Street, NY, NY: Sold for $1,600,000 10031 on 4/19/2017. It is a 3,960 square foot, 4 story, SRO townhouse built 17 x 49 on an 89 deep lot. No CONH. It was in need of total renovation upon closing.
COMPARABLE PROPERTIES FOR SALE COMPARABLE PROPERTIES FOR SALE SRO 2-FAMILY 3-FAMILY FOR SALE: 912 Saint Nicholas Avenue, NY, NY, 10032 Is a 3,744 square-foot, SRO townhouse built 17 x 50 on a 100 lot. It is in need of complete renovation. Delivered vacant with CONH. Cash buyers only It has been listed for 103 days, currently asking $1,725,000. FOR SALE: 554 West 161st Street, NY NY, 10032. Is a 3,600 square-foot, 2-family townhouse built 16 x 50 on a 100 lot. It is currently in fair condition, needing some renovation. Delivered vacant. Listed for 16 days, asking $1,850,000. FOR SALE: 517 West 152nd Street, NY NY, 10031: Is a 4,995 square foot, 3-family townhouse built 20 x 70 on a 100 lot. It is currently in mint condition, with premium appliances, finishes and craftsmanship. Listed for 60 days, currently asking $3,500,000. 272 Lenox Avenue * New York, New York 10027 * www. HarlemLofts.com * P: 212-280-8866 * F: 212-937-3351 Harlem Lofts, Inc. Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.