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352 E 116th Street, New York (New York (Manhattan)), NY, 10029 | $1,800,000
A rare opportunity to acquire an income-producing, four-story mixed-use building in the heart of East Harlem, ideally positioned between 1st and 2nd Avenues. The property comprises one ground-floor retail unit with basement access and private backyard, a one-bedroom/one-bathroom residential unit, and a two-bedroom duplex with one-and-a-half bathrooms — totaling approximately 3, 885 gross square feet on an 18. 33' × 90' lot. Zoned R7B with approximately 1, 064 square feet of available air rights, the building offers meaningful development upside. Renovated in 2018 and delivered with separate utilities, 352 East 116th Street requires no tenant displacement — making this a seamless value-add investment from day one. Steps from the 116th Street 6 train, with convenient access to the FDR Drive and Metro-North, the property sits at the center of one of Manhattan's most dynamic and rapidly evolving neighborhoods. East Harlem's thriving dining and retail corridor, proximity to Mount Sinai Hospital, and sustained residential demand position this asset for continued appreciation in a market with limited mixed-use inventory.
Features
- Town: New York
- Property Type: Office
- Construction: Brick
- Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Levels: 4
- Heating: Baseboard, Natural Gas
- Cooling: Wall/Window Unit(s)
- Units: 3
- Year Built: 1900
- Acreage: 0.04
- Est. Taxes: $17,504
- MLS#: 988682
- Days on Market: 6 days
- Website: https://www.raveis.com
/prop/988682/352e116thstreet_newyork_ny?source=qrflyer
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
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- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
Sarah DeFlorioVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.DeFlorio@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
352 E 116th Street, New York (New York (Manhattan)), NY, 10029
$1,800,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah DeFlorio
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 |
|
|---|---|---|---|
| Loan Amount | $1,440,000 | $1,440,000 | $1,440,000 |
| 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 | $1,459 | $1,459 | $1,459 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $8,064 | $8,750 | $12,055 |
| Total Monthly Payment | $9,648 | $10,334 | $13,639 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535