Besen & Associates has completed the sale of 255 & 257 West 134th St. in the Harlem neighborhood. The property consists of two vacant contiguous three-story single room occupancy buildings located between Frederick Douglass Blvd. and Adam Clayton Powell Blvd. They were sold for $3.35 million by Hilly Soleiman (pictured above) and Salomon Parnes.
The properties were acquired to redevelop into a condominium consisting of eight condos totaling 12,365 s/f. Constructed in 1910, the buildings reside on a 30’x99’ lot, each built 15’x45.’ The price equates to $620 per s/f and $270 per buildable s/f. It is located a block from Striver’s Row on West 135th St. Condo sellout is projected at $1,100 to $1,200 per s/f.
“These classic buildings offer charming and architecturally significant details, with which the purchaser has a wonderful canvas to work with,” said Soleiman.
The property is located near the Saint Nicholas Park. It is walking distance to the 135th Street [A, C, B] Subway Station, the 135th Street [2, 3] Subway station, and the MTA buses [M2, M10, Bx33]. It is also a quick drive to the Harlem River Drive for easy access to upper and lower Manhattan. The property is also close to a YMCA gym, an IHOP, and the Harlem Hospital: Akerele Evaristo.
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Besen & Associates is a leading, full-service investment sales brokerage founded in 1988. It is consistently ranked a top performer by transaction volume. Besen offers deep knowledge and sophisticated analytical tools to handle all facets of commercial real estate transactions including investment sales, re-positioning, financing, or lease negotiations. Working with a range of investors from single-property owners to institutional and private equity investors, Besen customizes appropriate solutions for all of its clients.
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