The subject offering is a 464-square-foot retail condominium located on Frederick Douglass Boulevard between West 112th and West 113th Streets in Upper Manhattan’s Harlem neighborhood. The unit has a total square footage of 833 with 464 square feet at grade with an additional 369-squarefoot lower level. The unit has 17 feet of retail frontage along Frederick Douglass Boulevard.
The offering is leased to Harlem Amor on a ten-year lease that runs through July 2034. The tenant has three percent annual increases and reimburses for real estate taxes above base year (2024/2025).
The unit has gas and venting in place, in addition to no use restrictions. The offering occupies the ground floor of a five-story, 14-unit hybrid building that was converted to condominiums in 2007.
This is an opportunity to acquire a 100 percent occupied retail asset in a high-foot traffic area and no-use restrictions. The property is three blocks away from the B, C, and D subway lines. Thousands of housing units are located within just a few blocks.