2378 Adam Clayton Powell Jr Blvd

About this property

Compass is proud to bring to market 2398 7th Avenue -- an incredibly beautiful five-story corner building in the Saint Nicholas Historic District.? Currently setup as six residential units with one commercial unit, this building offers numerous value-add opportunities: 1.? Partially renovated, an investor could simply finish up the remaining units and collect income in a very quickly appreciating area by either leaving the layout as is or capitalizing on the mixed-use zoning and converting the first floor and lower level to a large retail unit; 2.? For those wanting a quicker return, a floor through-unit condo conversion in this booming area would fetch sales prices well over $1,000/SF; 3.? For end-users, a single family conversion is also possible and would result in one of the best-known trophy houses in northern Manhattan.? In any of these scenarios, you would have the possibility to utilize the existing bulkhead to gain roof permitting, as well as duplex the existing basement with the first floor while still leaving the cellar below for communal space and mechanicals.? Feel free to reach out for a setup, pro-forma, and conversion metrics.

Listing Courtesy of Nathan Horne