1672 Park Avenue
Description
The building features a diverse mix of apartments, including 4 mini lofts studios, 4 one-bedroom units, 2 two-bedroom/one-bath apartments, and 2 two-bedroom/two-bath apartments. Apartment...This charming and well-maintained pre-war building offers a rare investment opportunity in one of New York City's most vibrant neighborhoods. Situated in East Harlem, 1672 Park Avenue is a solid 12-unit, four-story red-brick walk-up building that is fully occupied with no rent-controlled or rent-stabilized units.
The building features a diverse mix of apartments, including 4 mini lofts studios, 4 one-bedroom units, 2 two-bedroom/one-bath apartments, and 2 two-bedroom/two-bath apartments. Apartment sizes range from 350 to 900 square feet, providing a variety of options for tenants. With all 12 units currently below market rent and 10 expired leases, this property offers immediate significant upside potential investor through rent increases to market rate.
The building generates an annual income of $289,884.00 with a projected annual income of $385,800 once rents are adjusted. Additionally, the ground-floor apartment (1B) offers flexibility, as it is zoned for both commercial/retail and residential use, providing potential for future value-added opportunities. This approximately 900-square-foot space can be delivered vacant, making it an attractive prospect for either commercial or residential conversion.
Located walking distance of multiple parks, including Marcus Garvey Park, Dana Discovery Center, and Thomas Jefferson Park, this building is ideally situated to capitalize on the area's growing demand. The property is also a short distance from the bustling shopping and entertainment district on 125th Street. Notably, this property has historical significance, having been featured in the 1993 film Carlito’s Way starring Al Pacino. East Harlem continues to emerge as one of New York City's hottest neighborhoods, making this a prime investment opportunity.
Subway Access:
6 at Lexington Ave & 116th St 0.15 miles, 4-minute. 4, 5, 6 at Lexington Ave & 125th St 0.36 miles, 6-minute. 2, 3 at Lenox Ave & 116th St 0.37 miles, 7-minute.
Recent Improvements:
New water heater – Few months
Boiler 8-years old
New roof layer 4-year old
Brick repointed 4-year old
Windows re-caulked 4-year old
Property is currently 90% occupied offering investors a cash flowing turnkey asset currently yield 6.4% cap rate.
Financial Overview:
Income: $289,884(Annual)
Operating Expenses: $138,460 (Annual)
Net Operating Income: $151,424 (Annual)
Listing Agent
![Yakub Laguda]()
yakub.laguda@compass.comP: (917)-923-4191
Amenities
- Exposed Brick
- Hardwood Floors
- High Ceilings
- Window Treatments
- Walk Up
- Recessed Lighting
- Voice Intercom
- Video Security
Property Details for 1672 Park Avenue
| Status | Temporarily Off Market |
|---|---|
| Days on Market | 26 |
| Taxes | $5,465 / month |
| Maintenance | $1,196 / month |
| Min. Down Pymt | - |
| Total Rooms | 14.0 |
| Compass Type | Multi Family |
| MLS Type | - |
| Year Built | 1910 |
| Lot Size | 2,237 SF / 25' x 90' |
| County | New York County |
| Buyer's Agent Compensation | 2% |
Building
1672 Park Ave
Location
Building Information for 1672 Park Avenue
Payment Calculator
$18,494 per month
30 year fixed, 6.46% Interest
$11,833
$5,465
$1,196
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1Property History for 1672 Park Avenue
| Date | Event & Source | Price |
|---|---|---|
| 08/02/2025 | Temporarily Off Market Manual | — |
| 07/07/2025 | Listed (Active) Manual | $2,350,000 |
| 10/02/2023 | Temporarily Off Market Manual | — |
| 07/17/2023 | Price Change Manual | $2,750,000 |
| 05/03/2023 | Price Change Manual | $2,995,000 |
| 12/28/2022 | Listed (Active) Manual | $3,200,000 |
| 12/21/2022 | Permanently Off Market Manual | — |
| 12/06/2022 | Listed (Active) Manual | $3,200,000 |
| 02/23/2014 | $3,400,000 | |
| 08/26/2013 | $3,400,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1672 Park Avenue
Schools near 1672 Park Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 6 to 12 | |||
| Public - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
P.S. 30 Hernandez Hughes PublicPK to 5 | ||
Urban Assembly Academy for Future Leaders Public6 to 8 | ||
Frederick Douglass Academy Public6 to 12 | ||
SEED HARLEM Public6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Neighborhood Map and Transit
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This 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. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2026, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY 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 information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2026 The Real Estate Board of New York, Inc., All rights reserved.