Hudsonpoint Properties LLC pays $1.9M for 6-unit walkup in Harlem
529 West 150th Street (Credit - Google)
Hudsonpoint Properties LLC paid $1.9 million to Duk Sun Park and Soo Sun Park for the six-unit residential walkup building (C2) at 529 West 150th Street in Harlem, Manhattan.
The deal closed on March 28, 2023 and was recorded on April 11, 2023. The property has 3,629 square feet of built space and 1,461 square feet of additional air rights for a total buildable of 5,097 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $523 and the price per buildable square foot is $372 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
Prior sales and revenue
The former owners according to the Department of Housing Preservation and Development includes Duk Sun Park, joint owner and Soo Sung Park, joint owner.
The property
The parcel has frontage of 17 feet and is 99 feet deep with a total lot size of 1,699 square feet. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $439,000.
Violations and lawsuits
There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.
Development
There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.
The block
On this tax block, PincusCo has identified the owners of 13 of the 28 commercial properties representing 213,415 square feet of the 433,156 square feet. The largest owner is Allan Heussinger, followed by City Skyline Realty and then ELH Mgmt..
There are no active new building construction projects on this tax block.
The majority, or 43 percent of the 433,156 square feet of built space are walkup buildings, with elevator buildings next occupying 39 percent of the space.
Direct link to Acris document. link