June 24, 2020 Comments Off on Central Harlem Development Site Goes on Sale Views: 396 New York News, Uptown/Bronx New York

Central Harlem Development Site Goes on Sale

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Ariel Property Advisors was retained to sell 161-165 W. 132nd St., a 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 garage with an additional 5,700 square feet below grade and a further buildable area allotted for 20,623 square feet.

Located on a tree-lined, residential block, the property sits on the north side of West 132nd Street between major corridors Adam Clayton Powell Boulevard and Lenox Avenue in Central Harlem’s Historic District. 161 W. 132nd consists of a vacant, four-story structure above the active parking garage.

“The property is ideal for both residential developers and owner-users looking to capitalize on Central Harlem’s strengthening market,” said Ariel’s James Nestor. “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.”

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