Objektbeschreibung
JLL has been retained on an exclusive basis to arrange for the sale of 1090 St. Nicholas Avenue, a 41 unit elevatored apartment building featuring 236’ of wraparound frontage on the corner of West 165th Street and St. Nicholas Avenue. The building spans approximately 51,550 gross square feet and is comprised of 40 large residential apartments and an 8,000 square foot commercial space. Of the 40 apartments 11 are Free Market (avg. $3,352/mo), 4 are Rent Controlled (avg. $1,303/mo), 3 are Rent Stabilized with preferential rents (avg. $2,406/mo) and 22 are Rent Stabilized (avg. $1,755/mo)*. The apartments average approximately 925 square feet and benefit from tremendous natural light due to the corner location, proximity to McKenna Square Park and a series of internal courts. All of the Free-Market apartments have been renovated to include washer/dryers, stainless steel appliances and dishwashers.
1090 St. Nicholas Avenue is well positioned to benefit from its proximity to the 28 building, 22-acre New York-Presbyterian / Columbia University hospital campus. The hospital’s core campus spans West 165th Street to West 168th Street from Audubon Avenue to Riverside Drive. New York-Presbyterian has been ranked as one of the top three hospitals in New York and among the top ten worldwide. The hospital will continue to act as a major demand driver for both the residential units and commercial space well into the future.
Eigenschaften
Medien
Investment-Highlights
- 6 Story Elevator Building
- Private Ownership, Very Well Maintained
- 51K GSF, 40 Apartments & 1 Commercial Space
- 61% of gross revenue will move with market (FM, RS-Pref. / Commercial)
- 37% With RGB Increases (RS)
- 10% of Units Are Rent Controlled (30% of Market)
- 236’ of Wrap Around Frontage, Corner Location, Great Light & Air
- 2 Blocks to the 1 A C Trains & Steps from NY-Presbyterian Hospital
- Significant Discount to Last Sale
- Purchase Below Replacement Cost
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