303 W 128th St
New York, NY 10027
Frederick Douglas Blvd Portfolio · Property For Sale · 12,125 SF Total

This rare Harlem corner assemblage offers a compelling investment and development opportunity in one of Manhattan’s most dynamic neighborhoods. The package includes two four-story mixed-use buildings and a two-story commercial property, collectively spanning approximately 13,830 square feet across three lots totaling 6,000 square feet. Located at the northwest corner of Frederick Douglass Blvd and West 128th Street, the site benefits from high visibility, strong pedestrian traffic, and proximity to the A, B, C, and D subway lines at 125th Street.
The existing retail tenants include a deli, health store, beauty salon, restaurant, and liquor store, generating robust monthly income. All residential units are free market, allowing for immediate upside through renovations, rent increases, or unit combinations. The property sits within an Opportunity Zone and qualifies for the City of Yes program, enabling up to 63,000 buildable square feet with a 45-year tax abatement—ideal for a mixed-income multifamily development.
With a projected annual income of $678,000 and a net operating income of $575,926.20, this asset delivers a 5.8% cap rate. The asking price of $10 million equates to just $158 per buildable square foot, offering exceptional value in a high-demand corridor. Whether repositioning the existing buildings or pursuing ground-up development, this site presents a rare chance to capitalize on Harlem’s continued growth and transformation.