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173 East 120th Street is a remarkable mixed-use property located in East Harlem, offering a unique blend of residential and commercial spaces. This modern, 25-foot wide building features an elevator, curb cut, and private garage, making it a versatile option for various uses. Situated on the north side of East 120th Street between Lexington and 3rd Avenues, the property overlooks the Harlem Art Park, providing bright and scenic views. The 4-story building includes a commercial video production studio with high ceilings on the ground floor and a marble-clad entrance lobby with keyed elevator access to the upper floors. In 2006 the building underwent a complete gut renovation which included the replacement of all mechanical, electrical, plumbing, and HVAC systems, a fourth-floor addition, and the installation of a commercial-grade elevator. Residential Space: - The second floor hosts a spacious, floor-through apartment with four bedrooms and two full bathrooms. - The third and fourth floors are configured as a beautifully renovated duplex, featuring two bedrooms, two and a half baths, two finished outdoor spaces, a chef's kitchen, wood-burning fireplace, and keyed elevator entry to both floors. Commercial Space: A complete video studio, soundstage and additional production facilities are located on the first floor and in the finished basement. The property is near the bustling 125th Street corridor and the East River Plaza retail complex, which includes major retailers like Costco, Burlington, Old Navy, and Marshalls. A five-minute walk to the 4, 5, and 6 subway trains at 125th Street and Lexington Avenue, offering quick access to midtown Manhattan. Additionally, the Metro North Commuter Railroad's Harlem Station is nearby, connecting the property to New York City's northern corridor. 173 East 120th Street is an exceptional opportunity for those seeking a beautifully renovated, turn-key property that is ideal for full owner occupancy or a live/work plus income scenario. Its strategic location and versatile spaces make it a prime choice for potential buyers or investors.
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William Raveis Real Estate
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Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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Loan Amount | $4,199,200 | $4,199,200 | $4,199,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.625% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.614% | 6.727% | 6.309% |
Monthly Tax Payment | $1,775 | $1,775 | $1,775 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $23,843 | $26,888 | $35,719 |
Total Monthly Payment | $25,743 | $28,788 | $37,619 |
* 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.