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  • 1672 Park Avenue
  • $ 2,350,000
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035

1672 Park Avenue

East Harlem   |   East 117th Street & East 118th Street

Building For Sale
$ 2,350,000
Ownership Income Property
Lot Size 25'x89'5"
Floors/Apts 4/12
Status Active
Real Estate Taxes [Per Annum] $ 65,568
Building Type Low-Rise
Building Size 25'x89'
Year Built 1910
ASF/ASM 6,595/613
Listing ID: 20827TH

Photos

1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035

Anny Yau

License

Real Estate Broker


W: 347-921-2111

Floor Plans

1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035

Anny Yau

License

Real Estate Broker


W: 347-921-2111
1672 Park Avenue East Harlem New York NY 10035

Property Description

This charming and well-maintained pre-war building offers a rare investment opportunity in one of New York City's most vibrant neighborhoods. Situated in East Harlem, 1672 Park Avenue is a solid 12-unit, four-story red-brick walk-up building that is fully occupied with no rent-controlled or rent-stabilized units. The building features a diverse mix of apartments, including 4 mini lofts studios, 4 one-bedroom units, 2 two-bedroom/one-bath apartments, and 2 two-bedroom/two-bath apartments. Apartment sizes range from 350 to 900 square feet, providing a variety of options for tenants. With all 12 units currently below market rent and 10 expired leases, this property offers immediate significant upside potential investor through rent increases to market rate. The building generates an annual income of $289,884.00 with a projected annual income of $385,800 once rents are adjusted. Additionally, the ground-floor apartment (1B) offers flexibility, as it is zoned for both commercial/retail and residential use, providing potential for future value-added opportunities. This approximately 900-square-foot space can be delivered vacant, making it an attractive prospect for either commercial or residential conversion. Located walking distance of multiple parks, including Marcus Garvey Park, Dana Discovery Center, and Thomas Jefferson Park, this building is ideally situated to capitalize on the area's growing demand. The property is also a short distance from the bustling shopping and entertainment district on 125th Street. Notably, this property has historical significance, having been featured in the 1993 film Carlito’s Way starring Al Pacino. East Harlem continues to emerge as one of New York City's hottest neighborhoods, making this a prime investment opportunity. Subway Access: 6 at Lexington Ave & 116th St 0.15 miles, 4-minute. 4, 5, 6 at Lexington Ave & 125th St 0.36 miles, 6-minute. 2, 3 at Lenox Ave & 116th St 0.37 miles, 7-minute. Recent Improvements: New water heater – Few months Boiler 8-years old New roof layer 4-year old Brick repointed 4-year old Windows re-caulked 4-year old Property is currently 90% occupied offering investors a cash flowing turnkey asset currently yield 6.4% cap rate. Financial Overview: Income: $289,884(Annual) Operating Expenses: $138,460 (Annual) Net Operating Income: $151,424 (Annual)
This charming and well-maintained pre-war building offers a rare investment opportunity in one of New York City's most vibrant neighborhoods. Situated in East Harlem, 1672 Park Avenue is a solid 12-unit, four-story red-brick walk-up building that is fully occupied with no rent-controlled or rent-stabilized units. The building features a diverse mix of apartments, including 4 mini lofts studios, 4 one-bedroom units, 2 two-bedroom/one-bath apartments, and 2 two-bedroom/two-bath apartments. Apartment sizes range from 350 to 900 square feet, providing a variety of options for tenants. With all 12 units currently below market rent and 10 expired leases, this property offers immediate significant upside potential investor through rent increases to market rate. The building generates an annual income of $289,884.00 with a projected annual income of $385,800 once rents are adjusted. Additionally, the ground-floor apartment (1B) offers flexibility, as it is zoned for both commercial/retail and residential use, providing potential for future value-added opportunities. This approximately 900-square-foot space can be delivered vacant, making it an attractive prospect for either commercial or residential conversion. Located walking distance of multiple parks, including Marcus Garvey Park, Dana Discovery Center, and Thomas Jefferson Park, this building is ideally situated to capitalize on the area's growing demand. The property is also a short distance from the bustling shopping and entertainment district on 125th Street. Notably, this property has historical significance, having been featured in the 1993 film Carlito’s Way starring Al Pacino. East Harlem continues to emerge as one of New York City's hottest neighborhoods, making this a prime investment opportunity. Subway Access: 6 at Lexington Ave & 116th St 0.15 miles, 4-minute. 4, 5, 6 at Lexington Ave & 125th St 0.36 miles, 6-minute. 2, 3 at Lenox Ave & 116th St 0.37 miles, 7-minute. Recent Improvements: New water heater – Few months Boiler 8-years old New roof layer 4-year old Brick repointed 4-year old Windows re-caulked 4-year old Property is currently 90% occupied offering investors a cash flowing turnkey asset currently yield 6.4% cap rate. Financial Overview: Income: $289,884(Annual) Operating Expenses: $138,460 (Annual) Net Operating Income: $151,424 (Annual)

Listing Courtesy of Compass

Anny Yau

License

Real Estate Broker


W: 347-921-2111

Care to take a look at this property?

Apartment Features

A/C
1672 Park Avenue East Harlem New York NY 10035
1672 Park Avenue East Harlem New York NY 10035

Building Details [1672 Park Avenue]

Ownership Income Property
Service Level Voice Intercom
Access Walk-up
Block/Lot 1623/39
Building Size 25'x89'
Zoning R8A
Building Type Low-Rise
Year Built 1910
Floors/Apts 4/12
Lot Size 25'x89'5"

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Anny Yau

License

Real Estate Broker


W: 347-921-2111
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 REBNY Listing Service, Inc. All rights reserved. Additional building data provided by On-Line Residential [OLR].
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
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347-921-2111 | ayau@bcrealtygroup.com
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39 27-29 Street 3rd Floor, Long Island City, NY 11101
T:   347-921-2111   |   Email:   ayau@bcrealtygroup.com
T01.50.0.0 | Core: 50.0.0