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1672 Park Avenue East Harlem New York NY 10035
  1. Home
  2. 1672 Park Avenue
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
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1672 Park Avenue

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

Schedule a Viewing
$ 2,350,000
Building For Sale
Property Type
Active
Status
14
Rooms
2
Bedrooms
2
Bathrooms
6,595/613
ASF/ASM
$ 65,568
Real Estate Taxes [Per Annum]
  • 1672 Park Avenue
  • $ 2,350,000
1672 Park Avenue East Harlem New York NY 10035

Building Details

1672 Park Avenue East Harlem New York NY 10035
Income Property
Ownership
Low-Rise
Building Type
Voice Intercom
Service Level
Walk-up
Access
1623/39
Block/Lot
25'x89'
Building Size
25'x89'5"
Lot Size
R8A
Zoning
1910
Year Built
4/12
Floors/Apts

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

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
1672 Park Avenue East Harlem New York NY 10035

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

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1672 Park Avenue East Harlem New York NY 10035

Contact

License Licensed As: Charles Mazalatis
Charles Mazalatis

Charles Mazalatis

License Licensed As: Charles Mazalatis

President & Licensed Real Estate Broker

W: 646-807-4946
M: 917-359-8934
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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. All information is intended only for the Registrant’s personal, non-commercial use. RLS Data display by Maz Group NY. 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.
Listing ID: 20827TH