Connect RE | January 23, 2020
GFI Realty Services was named sales agent for a retail and residential condominium package located at 1890 Adam Clayton Powell Jr. Blvd., a prewar, six-story elevator mixed-use building in Harlem. The brokerage’s Matthew Sparks will oversee the marketing of both packages, which can be sold separately.
The offering is comprised of eight sponsored residential units, including a vacant fully- renovated unit, and four retail units including a community facility.
“This offering presents an investor with tremendous value either from the sale of units upon vacancy at a 65% premium to purchase price, or renting the units at market and creating tremendous cash flow,” said Sparks. “In addition, the asset is located in a prime area where there continues to be growth in the condo market, both new construction and conversions.”
The property is within blocks of Columbia University, Morningside Park, Marcus Garvey Park and Central Park North.