REO | 21 Units Multifamily Property

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Address: 505 W 135th St, New York, NY 10031, USA
New York & Tri-State
Created date: October 13, 2026
Date last updated: October 15, 2026
Price: $600,000Investment Analyzer NEW!

Auction Information:
Bidding opens: Monday, November 2, 2026, at 12:00 PM
Bidding closes: Wednesday, November 4, 2026 at 12:00 PM
Starting Bid: $600,000

  • Lender REO Sale
  • ​5-story, multifamily walk-up building in West Harlem, Manhattan
  • ​21 residential units
  • ​Approximately 43% of units are free market
  • ​13,170 sq ft building on a 3,997 sq ft lot
  • ​40 ft of frontage along West 135th Street
  • ​Just west of Amsterdam Avenue, with direct subway access at 137th Street-City College (1) and B & C service at 135th Street
  • ​Short walk to City College of New York and St. Nicholas Park
  • Close to nearby retailers: Foodtown, Starbucks, Dunkin’, Sugar Hill Cafe, and Red Kup Coffee

Property Description

Property tours are available by appointment only.​ Please contact the listing broker to schedule a tour.​ 505 W 135th St, New York, NY 10031 presents a compelling value-add opportunity in the heart of West Harlem.​ This lender-owned, 5-story multifamily walk-up features 21 residential units across approximately 13,170 square feet on a 3,997-square-foot lot, with 40 feet of frontage along West 135th Street.​ Built in 1910 and situated in an R7A zoning district, the property is currently 100% occupied, with approximately 43% of the units free market—offering investors an attractive blend of in-place income and future upside.​ The building benefits from a highly desirable Manhattan location just west of Amsterdam Avenue, moments from City College of New York, St.​ Nicholas Park, and the 137th Street–City College subway station, with convenient access to the A, B, and C lines.​ Surrounded by neighborhood amenities including Foodtown, Starbucks, Dunkin’, Sugar Hill Cafe, and Red Kup Coffee, this asset is well-positioned for long-term demand.​ A rare chance to acquire scale, location, and upside in one of Upper Manhattan’s most established rental corridors.​
  • ​Non-Contingent
  • Earnest Money Deposit: Greater of $20,000 or 10% of the Purchase Price
  • ​Marketing Fee: 3% of the Winning Bid Amount
  • ​$10,000 Participation Deposit via Wire Deposit only
  • ​Subject To Seller Approval
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Broker Details

Greg Corbin
Greg Corbin

Northgate Real Estate Group 212-419-8103 MLS ID: 432759

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Key Property Information

Listing Status: Available
Listing Type: Auction
Price: $600,000
No. of Units: 21
Year Built: 1910
Building Size: 13,170 Sq ft
Lot Size: 3,997.00 Acres
No. of Stories: 5
Opportunity Zone: No
Price per unit: $28,571
Address: 505 W 135th St, New York, NY 10031, USA

Investment Analyzer

Step 1Financing Calculation

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Step 2Gross Rent Analysis

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Step 3Cap Rate Calculation

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Step 4Final Deal Analysis

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