344 Cabrini Boulevard

New York, NY

For Sale

$3,700,000

OVERVIEW

LOCATION:
344 Cabrini Boulevard, New York, NY 10033

Neighborhood: Hudson Heights

Asset Type: Multifamily

Square Feet: 7,228

Stories: 4

Residential Units: 8

 

Description

Besen & Associates, Inc., as exclusive agent for the ownership, is pleased to offer for sale 344 Cabrini Boulevard, New York, NY 10033 (the “Property”), a well-maintained, 4-story, 7,228± SF walkup apartment building located in one of the most desirable sections of Hudson Heights in the Upper Manhattan corridor, west of Broadway. The property is situated on Cabrini Boulevard between West 190th Street & West 187th Street and is comprised of 8 residential units. Built in 1915, this property was gut renovated in 1997 and is currently in “turn-key” condition. Lower level and first floor units have large patios and all rear units have stunning panoramic views of the Hudson River and the New Jersey skyline. 

 

The building is comprised of 1 two-bedroom unit, 4 one-bedroom units, and 3 studios. All 8 units are rent stabilized with an average monthly rent of $1,900, which represents a 26% discount to current market rates offering an investor significant upside. 

 

Nearby Transportation

The Property is located just north of the George Washington Bridge between Fort Tryon and Fort Washington Parks. The residents are well served by public transportation, including the 190th Street subway station [“A”], the 181st Street subway station [“A”] and the 191st Street subway station [“1”]. A network of bus lines are also available throughout the neighborhood, including the north/south M4 & M98 lines on Fort Washington Avenue, as well as the Bx7 & M100, which both run along Broadway. For vehicular traffic, the area offers easy access to the Henry Hudson Parkway to the west, the Harlem River Drive and I-87 (NY State Thruway) to the east, and I-95 (Cross Bronx Expressway) to the south.