Atlas Realty Group Partners, LLC today announced that it has been named the exclusive sales agent for 1734 Amsterdam Ave and 2268 Adam Clayton Powell Jr. Blvd, a two building Central Harlem package that includes 16 apartments and five ground-level stores in one of New York Cities richest and most historic cultural hubs.

ARG Principal Shlomo Antebi is the lead broker for this assignment, which has a price target of $9,000,000 based on a capitalization rate of 5.44 percent, a protected 2B tax class status, and six market-rate apartments.

The two properties in the package are located approximately 20 blocks apart -- separated by a pleasant along tree-lined streets bustling with modern bistros, soul food restaurants, historic churches, night clubs, public and charter schools, the City College of New York, and performing arts venues like the iconic Apollo Theater.

“The two properties in this package couldn’t be located in a more exciting part of town for professionals, students and small business owners,” Antebi said. “The mix of renovated market-rate apartments, rent-stabilized apartments and ideally situated commercial spaces is perfect for an investor looking for immediate cash flow, future price appreciation, and highly attractive rental inventory in one of the world’s most culturally vibrant urban settings.”

All six of the package’s market rate apartments have been renovated. Only one of the 16 apartments is currently vacant as it undergoes renovation. The commercial units are 100 percent tenanted with the soonest lease expiration scheduled for May 2021.