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142 Edgecombe Ave., New York, New York

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142 edgecombe new york new york

On June 11, 2012, Jacobs Real Estate Advisors announced the closing of 142 Edgecombe Ave, New York, NY for $1.1 Million. The property is currently a vacant building and the project plan is to rehab the building, with an additional $1.2 Million, converting it into condominiums with a projected sellout of $4.4 Million within 18 months doubling the initial investment.

This upper Manhattan, Harlem neighborhood has undergone a renaissance. Starting at 110th Street and extending north to the Harlem River, Harlem has many new developments and is becoming a popular new destination for motivated buyers interested in living close to the heart of Manhattan.

Jacobs Real Estate is no stranger to rehabing and converting properties into condominiums in the area including full rehabs and sellouts of neighboring 2072 8th ave in 2006 and 2082 8th ave in 2007 giving our investors IRRs of over 30%. This project is starting at the tail end of our near sellout of The Beach House Condominiums in Rockaway Beach, NY with only 2 units left for sale in the 43 unit complex.

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