Meridian Investment Sales is pleased to present for sale 546, 550 & 552 West 146th Street (“Hamilton Heights Trio”), a portfolio of three walkup apartment buildings located steps from Broadway in the historic Hamilton Heights neighborhood of Upper Manhattan. Combined, the Properties have 46,420 SF combined and include 70 apartments of which 53% are deregulated making the Hamilton Heights Portfolio truly unique as most of the housing stock in Northern Manhattan is majority rent stabilized.
The Hamilton Heights Portfolio offers investors durable cash-flow with City College of NY serving as the neighborhood anchor and Columbia Medical approximately 20 blocks north. The Hamilton Trio is close Riverbank State Park, Jackie Robinson Park and St. Nicholas Park Nearby subways include the [1] & [A, B, C, D] Trains on 145th Street.
Asking Price: $12,000,000
53% FREE MARKET
38 of the 70 apartments are free market which equates to 53%. This is a very attractive feature considering the current strict regulatory environment and the passing of the HSTPA rent laws in June 2019.
EXCELLENT CONDITION
The building has been meticulously maintained by current ownership. Common areas have been renovated featuring new lighting, moldings and exposed brick. All free-market units have been gut-renovated with new hardwood floors, bathrooms and stainless-steel appliances dishwashers in the kitchens.
DURABLE CASH FLOW
The Property offers an investor durable cashflow with a strong tenant base including professionals, families and students. Tenants are attracted to the quality apartments and the Hamilton Trio boasts strong collections.
LOCATION
The Hamilton Trio is located in the heart of Hamilton Heights steps from Broadway. The Portfolio is within close proximity to City College of New York to the south and Columbia Medical to the north. There are many nearby parks including Riverbank State Park, Jackie Robinson Park and St. Nicholas Park.
TRANSPORTATION
The property is conveniently located near many train lines including the [1] & [A, B, C, D] Trains on West 145th Street.