Ariel Property Advisors has been exclusively retained to sell 161-165 West 132nd Street, a rare, four-story, 60-foot-wide, residential or commercial conversion property in Central Harlem.Listed at $7.5 million, the 22,800-square-foot property also contains a 135-spot parking garagewith an additional 5,700 square feet below grade and a further buildable area allotted for 20,623 square feet. With flexible R7-2 / C1-4 zoning, the building is able to accommodate residential, retail, restaurant, education, office orother community-oriented uses.
Located on a tree-lined, residential block, the property sits on the north side of West 132ndStreet between major corridors Adam Clayton Powell Boulevard and Lenox Avenue in Central Harlem’s Historic District. 161 West 132nd Street consists of a vacant, four-story structure above the active parking garage, which is mainly below grade and includes a service elevator.
“The property is ideal for both residential developers and owner-users looking to capitalize on Central Harlem’s strengthening market,” said James Nestor, Associate Director of Investment Sales for Ariel Property Advisors. “The conversion flexibility of the property and the central proximity to all Harlem has to offer makes this a rare opportunity for a wide range of potential owners.”
Thearchitecturally distinct property is located within walking distance of Harlem Hospital, City College of New York, St. Nicholas Park, Columbia University’s Manhattanville Campusand the Manhattanville Factory District, as well as Striver’s Row and many neighborhood dining, retail and historic attractions. The property also offers a range of subway options including the2, 3, A, B and C trains.
Representing the seller are exclusive Ariel Property Advisors agents Victor Sozio (212.544.9500 ext. 12, vsozio@arielpa.com), Shimon Shkury (212.544.9500 ext. 11, sshkury@arielpa.com), Michael A. Tortorici (212.544.9500 ext. 13, mtortorici@arielpa.com), James Nestor (212.544.9500 ext. 86, jnestor@arielpa.com) and Oliver Elihu (212.544.9500 ext. 21, oelihu@arielpa.com).
About Ariel Property Advisors
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the NY metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry.arielpa.nyc
