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2350 ACP Jr Blvd 2350 Adam Clayton Powell Jr Blvd is a gorgeous mixed-use (Three-Family plus Retail/Office) property located in the St Nicholas Historic District (Strivers’ Row) and perfectly positioned to generate a 7% pro forma cash-on-cash return for an investor while equity appreciates! This fully renovated twenty-foot-wide brick-brownstone property is situated in the heart of historic Harlem, two doors down from the original Red Rooster social club This lovely mixed-use townhouse was fully renovated in 2015 and combines classic charm with the comforts of modern living, including central HVAC, a touch-pad security system, and video intercom. It comprises three fully renovated two-bedroom two-bathroom apartments over a retail/office space. The apartments are open plan with high ceilings, large windows for a wonderful sense of light and space, Brazilian walnut hardwood floors, and recessed lighting. Each has a primary bedroom with high ceilings, abundant light and ensuite bathroom, a second bedroom and second full bathroom, and an open concept living room and European-style Chef’s kitchen features stainless steel appliances, granite counters and mosaic backsplash, plus in-unit laundry. The commercial space is 20 feet deeper than the apartments above, measuring 20'x70'. The rear of the property leads on to a private alley attached to a shared, gated driveway. There is access to the basement via front stairs and privately via the commercial space. This lovely home is close to the up-and-coming restaurant/café scene in the neighborhood. Notable local landmarks include Alexander Hamilton Grange, historic Strivers' Row, the Harlem YMCA, and City College. The property is a short walk from shopping on 125th Street and conveniently situated for the B/C and 2/3 subway lines and the M1, M2, M7 and M10 bus lines. For recreation, the property is just a few steps from St. Nicholas Park.
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Our Executive Mortgage Banker:
$2,695,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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| Loan Amount | $2,156,000 | $2,156,000 | $2,156,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 6.125% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.117% | 6.235% | 6.058% |
| Monthly Tax Payment | $1,040 | $1,040 | $1,040 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $12,073 | $13,100 | $18,048 |
| Total Monthly Payment | $13,238 | $14,265 | $19,213 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.