Under Contract – Backup offers may be accepted
2049 2nd Avenue
MLS® #RLS20036929
Listing by Compass
8
Bedrooms
14
Baths
8,530
Sq. Ft.
1900
Year Built
Quick Summary
Property Highlights
- Exposure: East,West facing
- Style: WalkUp architecture
- Climate Control: Wall Units
Property Details
Description
- Mixed-Use Free-Market Investment Property FOR SALE in the heart of vibrant East Harlem on the Northwest Corner of East 105th Street & 2nd Avenue - 12 Residential Units above a Commercial Space (currently being occupied by a Mexican Restaurant paying over $130k/annually btwn base rent, tax contribution, and utility reimbursements) - Residential Apts. consist of 3 different layouts with 4 identical units each: studio alcove, one-bedroom, and one-bedroom with home office - Perfect time to invest in this neighborhood is now since the upcoming 2nd Avenue subway extension up to 125th Street will make this property explode & gentrify twofold - Live-In Super and carefully maintained throughout the years - Recent improvements within the last 4 years include: (1) boiler upgrades (2) roof replacement & waterproofing (3) lobby & hallway renovations (new tile floors & complete re-painting of metal pan stairs, apt entry doors, ceilings & walls) (4) new lighting (5) new kitchens, baths, & refinished oak floors inside of select units (6) new EIFS/Stucco & Waterproofing facade system on side & rear (7) brick repointing & power-washing - this building also underwent an Alteration Type I Permit in 2022 for the removal of lot line windows to make ready for new 25k buildable adjacent development site (also owned by same seller on the market and willing to do a package deal for both building & lot). Inquire with listing broker - With over $260K NOI, an asking cap rate of approx. 7%, and recent improvements done over the last 4 years this is turnkey to the new investor making it priced to sell - Setup sheet available upon request depicting gross rent roll, operating expenses, and net income - Seller also has the adjacent development site at 2047 for sale with approx. 25k buildable including air rights from this building and willing to do a package deal (further information available upon request)
Features & Amenities
Interior Features
Appliances
Building Information
Financial Details
About East Harlem
View All East Harlem ListingsEast Harlem, also known as El Barrio, is a neighborhood rich in culture, art, and history. Known for its vibrant murals and the historic La Marqueta, the area is undergoing a residential transformation. The real estate market offers some of Manhattan's most accessible price points, featuring a mix of historic walk-up cooperatives, value-driven HDFC units, and a surge of new luxury condominium developments that offer modern amenities and easy access to the Upper East Side.
East Harlem Live Market Data
View NeighborhoodActive Listings
36
Median Asking Price
$850K
Median $/Sqft
$811
Avg Days on Market
N/A
New This Week
2
Price Reduced
47%
Sold (30 Days)
5
Median Sale Price
$765K
Live data from RLS at REBNY • Updated 2/16/26, 11:01 AM EST
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Location
2049 2nd Avenue, East Harlem, New York County
Listing Data
RLS® at REBNY (Real Estate Board of New York) via Trestle API. Updated in real-time.
Market Data
RLS® at REBNY (Real Estate Board of New York). Live data updated in real-time.
Map & Location
OpenStreetMap contributors via Leaflet. Geocoding via Nominatim.
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Listing Courtesy of Compass - JONATHAN KRAMER
Listing Contact: (516) 423-9581
Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Broker Commission Disclosure: Broker commissions are not set by law and are fully negotiable.
RLS Data display by Keller Williams NYC. Data last updated on 2/16/2026 at 4:01 PM UTC