The Real Deal New York

  • SPONSOREDMeridian Exclusively Lists a Newly-Constructed Luxury Mixed-Use Elevator Building in East Harlem

    Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, is pleased to exclusively present for sale 2147 Second Avenue, a newly-constructed luxury mixed-use building in the East Harlem neighborhood of Manhattan. Senior Executive Managing Director, David Schechtman, Vice President, David Benharouch, and Managing Directors, Lipa Lieberman and Abie Kassin, are representing the seller in this transaction.

    Located on the western side of Second Avenue between East 110th and East 111th Streets, the elevator building spans 16,500 square feet, including 1,950 square feet of ground floor retail currently leased to Women’s World of Boxing, New York’s only female boxing club. The gym was founded by former heavyweight Reese Scott and features a locker room with showers. The property also includes 16 luxurious apartments on the second through ninth floors. Of these, 15 are two-bedroom units while one is a one-bedroom apartment. Residents of 2147 Second Avenue benefit from nine-and-a-half foot ceilings, video intercom throughout the building, washers and dryers on every other floor, and storage located on multiple floors. Additionally, 10 of the 16 units contain private balcony space.

    “With a strong in-place cash flow, investors will benefit from rent growth as the neighborhood continues to flourish,” says Mr. Schechtman. “Additionally, buyers will benefit from owning one of the rare premier luxury elevator buildings unique to the neighborhood. The distinct property emits charm and character, which will help maintain its status as the preferred option for residents seeking housing in the area.”

    East Harlem offers an abundance of eateries, shops, and entertainment options, with Museum Mile, Central Park, and the newly-developed East River Plaza all within walking distance. As a result, the rapidly ascending neighborhood has witnessed unprecedented demand from residents seeking to relocate to the relatively affordable community. 2147 Second Avenue also benefits from convenient access to transportation,  including the 6 train at 10th Street, the soon-to-be Q train at 106th Street, and nearby FDR Drive.

    David Schechtman, Senior Executive Managing Director, can be reached at (212) 468-5907 or DSchechtman@meridiancapital.com and the listing for 2147 Second Avenue may be viewed here.