JLL to exclusively market 173 E. 120th Street in Harlem, New York City
Four-story property with curb cut recently underwent an extensive renovation, including the installation of a commercial-grade elevator
NEW YORK, November 12, 2020 — JLL Capital Markets has been selected to market 173 E. 120th street, a 9,050-square-foot mixed-use property located at the border of Central and East Harlem in New York City. The asking price for the property is $5.25 million.
173 E. 120th Street is a four-story, 25-foot-wide contemporary building that will be delivered vacant. The property includes a commercial video production studio with high ceilings on the ground floor, and two large residential units with lock-off elevator access on the second, third and fourth floors. The building features a first-floor marble lobby, a curb cut and garage available for two cars. There are also additional production facilities in the finished basement.
The second-floor residential apartment is a floor-through unit with four bedrooms and two full bathrooms. The third and fourth floors are combined into a two-bedroom, two-and-a-half bath duplex with a chef’s kitchen, multiple living spaces, wood-burning fireplace, multiple finished outdoor spaces on the roof and two terraces. Additional recent improvements include the replacement of all mechanical, electrical, plumbing and HVAC systems, a fourth-floor addition and the installation of a commercial-grade elevator.
The property overlooks the Harlem Art Park, which offers green space for the neighborhood and which features artist Jorge Rodriguez’s “Growth,” a striking, 15-foot-high red sculpture. The building is located in Harlem within walking distance to the East River Plaza retail complex, which is home to major retailers like Target, Costco and Old Navy, as well as to the 125th Street retail corridor. 173 E.120th Street is a short walk from the 4, 5, 6 subway lines, the current Q train development and the 125th Street Metro North Commuter Railroad station, with immediate access to Grand Central and the greater Tri-State area.
The JLL team overseeing the marketing of the property includes Managing Director Paul Smadbeck, Vice Presidents Teddy Galligan and Conrad Martin and Associate Braedan Gait.
“This unique property is an ideal opportunity for an investor seeking a multi-faceted, turn-key building in a vibrant neighborhood with its own private garage,” Smadbeck said. “The location offers exceptional access to transportation, and the owner’s ability to deliver the building fully vacant allows the next owner to reposition the property as they like.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.