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  1661 Park Avenue

  Multifamily property SOLD
1661 Park Avenue
1661 Park Avenue
New York, NY 10035
Sale Price$4,800,000
Property TypeWalk-Up Building
NeighborhoodEast Harlem
No. of Properties1
Lot Size4,538 SF (Approx)
Lot Dimensions50.42' x 90' (Approx)
Zoning CodeC2-4 (2.0) / R7-2 (4.0)* Wide Street Rule
Bldg Size22,436 SF (Approx)
Bldg Dimensions48' x 83' (Approx)
No. of Stories6
No. of Units37
Residential Units34
Commercial Units1
Sale Date9/13/2013
Investment highlights: 
1661-1663 Park Ave is a 48’ by 88’, six (6) story walk-up building located on the northeast corner of Park Avenue and 117th street. The property contains thirty-four (34) residential units and one retail unit on the ground floor. The residential component consists of one (1) studio, twenty-six (26) one-bedroom, and seven (7) three-bedroom apartments.
The subject property is located on the northeast corner of East 117th Street and Park Avenue.

The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein.

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Ariel Property Advisors LLC
122 East 42nd Street
Suite 1015
New York, NY 10168
Phone: 212.544.9500
Fax: 212.544.9501
Email: info@arielpa.com
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