Oops, it looks like you’re using a web browser our site no longer supports. For the best viewing experience, please use one of the following:
Google Chrome, Microsoft Edge, Apple Safari or Mozilla Firefox.
×

Mortgage Calculator

Amount to borrow:

Downpayment %:

Term (in years):

Interest rate %:

Down Payment:

Amount Financed:

Monthly Payment:

Instructions: Enter numbers and decimal points. No commas or other characters.

Log in

Not registered? Create an account
Already have an account? Log In

1991 Madison Ave., New York, NY 10035

$2,925,000
Active Listing
Listing Details:
$2,925,000 Price
Single-Family Townhouse Property Type
East Harlem Neighborhood
6 Beds
5 Baths
5,986 Approx. Sq. Ft.
$849 RET
Key Features:
Prewar
Allows Pets
Unit Laundry
Unit Terrace
Description:

Welcome to 1991 Madison Avenue, a remarkably beautiful corner building consisting of four free-market units in Prime Harlem. This renovated and light-filled brownstone features windows on three sides, tall ceilings, original details, hardwood floors, two terraces, laundry, and modern appliances throughout nearly 5,000 above-grade SF.

For an end-user, the 3 BR/2 BA owner's duplex is over 2,000 interior SF
not including the large terrace and private basement, allowing someone to live in a beautiful unit while at the same time supplementing their mortgage with ~$9,000/month rent from the other three units. It also offers the opportunity to combine one or more of the other units into a larger owner's unit or even a massive single-family.

For an investor, the protected tax class 2A provides extreme protection for an already-occupied 5-cap in a quickly appreciating market. Though the apartments are already in good condition; the rents are under market and additional value could be created by permitting the outdoor spaces, finishing the basement, slightly modifying the layouts, adding dishwashers/washer-dryers to the rental units, or converting the building to condominiums.

The location is ideal for commuters with the 2, 3, 4, 5, 6, and Metro North stops only blocks away. 1991 Madison is also situated between Marcus Garvey and Harlem River Parks for outdoor lovers, as well as within walking distance of some of the best restaurants, museums, and stores in Upper Manhattan.

Feel free to reach out for an offering memorandum and pro forma, with any questions, or to set up a showing.

Listing courtesy of Compass

Discuss this property with a Core agent: