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21-Unit Multifamily Value-Add Investment 174 W 137th St 21 Apartment Units Online Auction Sale New York, NY 10030
Matterport 3D Tours
INVESTMENT HIGHLIGHTS
- 85% of the units are free-market, providing investors with the flexibility to raise rents without regulatory limitations.
- Potential future rent law reform could substantially enhance the investment’s value by enabling greater rent growth and repositioning opportunities.
- Ideally situated between Malcolm X Boulevard and Adam Clayton Powell Jr. Boulevard, the investment benefits from walkable retail corridors featuring a
- The investment will trade around a 30% discount to its replacement cost which is also below its $7,450,000 loan basis.
- The investment offers convenient access to the 2/3, A/C, and B subway lines, providing tenants with affordable and efficient transportation options th
EXECUTIVE SUMMARY
This 5-story walkup consists of 17,550 square feet with 21 residential units – 18 of which are permanently free-market. In recent decades, Harlem has experienced rapid gentrification, transforming from an industrial hub into a dynamic, modern neighborhood. The area offers a blend of brownstones, pre-war apartment buildings, and contemporary developments, alongside an ever-growing selection of schools, entertainment venues, and innovative dining spots. Known for its rich history, Harlem attracts families, young professionals, and artists fostering a distinctly edgy yet welcoming atmosphere. Its accessibility to multiple subway lines, along with relatively more affordable rents compared to nearby neighborhoods, continues to draw a diverse mix of residents.
Property tours are by appointment only. Please contact the listing broker to schedule.
Property tours are by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOURS
Unit 20 - 4BR, 1BA Matterport Tour
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OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Register to Bid Instructions
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
| Sale Type | Investment | Building Class | C |
| Sale Condition | Auction Sale | Lot Size | 0.11 AC |
| Type of Ownership | Fee Simple | Building Size | 17,550 SF |
| No. Units | 21 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | Parcel Number | 1921-0055 |
| Apartment Style | Mid-Rise | ||
| Zoning | R72 | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 17,550 SF |
| No. Stories | 5 |
| Year Built | 1950 |
| Zoning | R72 |
| Parcel Number | 1921-0055 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (100)
ABOUT STRIVER'S ROW
Striver's Row is located within Central Harlem in northern Manhattan. On top of having a rich history, the area is favorably positioned near multiple mass-transit options, major universities, and medical centers.
Columbia University, which sits adjacent to Central Harlem, continues to invest in the neighborhood and has boosted its visibility with several recent developments. The university is working on a new 17-acre campus in Manhattnville. Already open is the 450,000-SF Jerome L. Greene Science Center, which accommodates nearly 1,000 researchers and grad students.
Central Harlem’s growing multifamily scene has led the way for an increasing number of vibrant retail offerings and office development. The neighborhood is home to the iconic Apollo Theater, El Museo del Barrio, and the acclaimed Red Rooster Restaurant. Offering a respite from the high rents of most Manhattan neighborhoods, Central Harlem has become an attractive option for families and young first-time renters, which has helped transform the area’s landscape.
SALE ADVISORS
SALE ADVISORS
Matthew Mastrocola, Vice President
Matt Mastrocola is a Vice President of the Colliers Capital Markets Group in New York. Mr. Mastrocola is an accomplished commercial real estate professional who has transacted on a national scale and has significant experience as both a lender and a broker in the multifamily space. He has expertise within the origination, underwriting, and execution of multifamily assets which exceeds over 10 billion dollars in career-to-date volume.
Most recently, Mr. Mastrocola worked as a capital markets broker out of NYC serving his client’s financing needs throughout the country. Mr. Mastrocola was also a Vice President at Arbor Realty Trust where he served an eight-year tenure and managed production for some of Arbor’s most active clients on the company’s top performing originations team. Mr. Mastrocola first launched his career in commercial real estate at Arbor as an analyst and progressed through a variety of front-office positions. Mr. Mastrocola has extensive experience structuring Agency, Bridge, Bank, CMBS, and Life Company loans.
Mr. Mastrocola earned his B.S. from Providence College. He grew up in and currently resides in Bergen County, NJ.
Most recently, Mr. Mastrocola worked as a capital markets broker out of NYC serving his client’s financing needs throughout the country. Mr. Mastrocola was also a Vice President at Arbor Realty Trust where he served an eight-year tenure and managed production for some of Arbor’s most active clients on the company’s top performing originations team. Mr. Mastrocola first launched his career in commercial real estate at Arbor as an analyst and progressed through a variety of front-office positions. Mr. Mastrocola has extensive experience structuring Agency, Bridge, Bank, CMBS, and Life Company loans.
Mr. Mastrocola earned his B.S. from Providence College. He grew up in and currently resides in Bergen County, NJ.
Zachary Redding, Managing Director
Zach Redding is a Managing Director of Colliers’ Capital Markets Group in New York. Mr. Redding has extensive experience arranging commercial investment sales, as well as debt & equity financing of all asset classes throughout the New York Metropolitan and Tri-State Area.
Prior to joining Colliers in 2022, Mr. Redding was a Senior Director at B6 Real Estate Advisors based in New York, where he was a top producer of sale transactions. In 2020, Zach Redding was honored as the Real Estate Board of New York’s Most Promising Salesperson of the Year. Mr. Redding was also honored by Commercial Observer as one of the Top 30 Sales & Leasing Professionals Under 30 in the nation in 2019. Prior to B6, Mr. Redding was an Associate Director at Cushman & Wakefield, responsible for all financial analysis and transaction management for Paul J. Massey Jr. (President of New York Investment Sales at that time). Mr. Redding also served as Mr. Massey’s Chief of Staff during his candidacy for Mayor of New York City in 2016-2017.
Mr. Redding earned his B.S. from West Virginia University where he served as President of the Student Body and as a member of the Board of Governors. He has served as an advisory member for several non-profits, including Projected Destined and New Destiny Housing.
Prior to joining Colliers in 2022, Mr. Redding was a Senior Director at B6 Real Estate Advisors based in New York, where he was a top producer of sale transactions. In 2020, Zach Redding was honored as the Real Estate Board of New York’s Most Promising Salesperson of the Year. Mr. Redding was also honored by Commercial Observer as one of the Top 30 Sales & Leasing Professionals Under 30 in the nation in 2019. Prior to B6, Mr. Redding was an Associate Director at Cushman & Wakefield, responsible for all financial analysis and transaction management for Paul J. Massey Jr. (President of New York Investment Sales at that time). Mr. Redding also served as Mr. Massey’s Chief of Staff during his candidacy for Mayor of New York City in 2016-2017.
Mr. Redding earned his B.S. from West Virginia University where he served as President of the Student Body and as a member of the Board of Governors. He has served as an advisory member for several non-profits, including Projected Destined and New Destiny Housing.
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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AUCTION CONTACT
Cheri Mascitelli
Contact
Auctioneer License:
Ten-X, Inc. Vibhav Kapila RE Brkr 10991231490
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VIDEOS
MATTERPORT 3D EXTERIOR
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PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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