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Kyle Meeks
  • Real Estate Professional
TTR Sotheby's International Realty
Agent Photo
Kyle Meeks
TTR Sotheby's International Realty
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    ManhattanEast Harlem5 EAST 124TH STREET

    the marcus
    5 EAST 124TH STREET East Harlem, Manhattan, NY 10035

    $1,899,999
    Open House For Sale
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    Tools
    Open House
    4/27
    Open House: 2:45 PM - 3:30 PM
    Size
    8
    Bedrooms
    8
    Full Baths
    13
    Rooms
    Financial
    $1,899,999
    Change Currency
    $1,000
    Monthly Fees
    $916
    Monthly taxes
    $12,000
    Anual Fees
    $10,992
    Annual taxes
    Details
    Other
    Property Type
    14361776
    Web Id
    295
    Days Posted

    Description

    5 EAST 124TH STREET, East Harlem, Manhattan, NY 10035

    Cap Rate Potential Over 7% Prime Investment Opportunity Overlooking Marcus Garvey Park - A Rare Multi-Family Brownstone in a Transforming Harlem 5 East 124th Street presents a once-in-a-generation opportunity to own a true Harlem brownstone on a landmarked, park-facing block, with built-in long-term upside in one of Manhattan's most rapidly appreciating neighborhoods. Located directly across from Marcus Garvey Park, this four-story, 8-unit brownstone offers a front-row seat to Harlem's ongoing renaissance. Investors and owner-occupiers alike will benefit from the property's unmatched combination of location, scale, and long-term potential-where protected zoning ensures the park's open southern light and historic charm remain unchanged forever. Investment Highlights 6 Rent-Stabilized Units - Immediate income with future upside 2 Vacant Units at Closing - Ideal for owner-occupancy or value-add opportunities 5 Renovated Units - Providing modern convenience while maintaining pre-war charm Strong Rent Roll with room to grow ($180K+) & over 7% Cap Rate - Excellent cash flow in an appreciating market Low Annual Taxes ($11K) - Favorable holding costs enhance long-term profitability Historic Brownstone, Modernized for Today Built in 1909, this classic Harlem brownstone retains its pre-war details while featuring modern renovations (2017). The true 4-story brownstone sits on a 20' x 100.92' lot and is built 20' x 48', offering approximately 3,840 SF of livable space. For buyers looking to combine investment with luxury living, the parlor-level unit offers a private backyard, while the top-floor penthouse boasts iconic park views-perfect for an end-user or high-end rental. The Neighborhood: Unstoppable Growth & Unmatched Lifestyle This coveted landmarked district is experiencing major development while maintaining the timeless charm of Harlem's most historic streetscape. Just steps from Whole Foods, Trader Joe's, and top-tier dining, the property is also within easy reach of major transportation hubs: 2 Blocks to 2, 3, 4, 5, 6 Subway Lines 3 Minutes to Metro-North Quick Access to Columbia University, Upper East & West Sides, and Midtown Why Harlem? Why Now? Harlem has emerged as a top destination for long-term real estate appreciation, with rising property values, luxury developments, and a cultural revival that makes it one of NYC's most exciting investment markets. With limited housing inventory on this protected historic park block, 5 East 124th Street stands out as a rare acquisition for investors seeking both immediate returns and long-term value growth. This is not just an investment-it's a chance to own a piece of Harlem's history with guaranteed long-term upside in an area where demand is surging, but supply remains limited. Seize this opportunity to invest in one of Manhattan's most storied and evolving neighborhoods. Contact us today for a private tour of this one-of-a-kind Harlem brownstone!

    Amenities

    • Park View
    • Air Conditioning
    • Central A/C
    • Triplex
    • Multi-Level
    • Pets Allowed
    Price History View all +
    Date PriceVarianceType
    4/27/2025$1,899,999-2.56%decreased
    2/12/2025$1,950,000-Listed
    Listing By: Douglas Elliman via Data Source: RealPlus MLS


    Located at 5 EAST 124TH STREET, Manhattan, New York 10035, East Harlem neighborhood, this Other is for Sale with a price of $1,899,999 USD. The property includes 8 bedrooms, has 8 full baths. See all Homes for Sale in East Harlem.
    Advertiser Logo

    Douglas Elliman

    Kyle Meeks
    Kyle Meeks
    • Real Estate Professional
    1515 14th Street NW
    Contact Agent
    Staging Information:
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