US - Jacksonville, FL
JLL has been retained on an exclusive basis to arrange for the sale of 567 West 125th Street, a 50’ wide 6 story mixed-use building located on the north side of West 125th Street between Broadway and Amsterdam Avenue. The property is ideally situated between Columbia University’s brand new $7 Billion Manhattanville Campus and the new 1.1 Million-square-foot Manhattanville Factory District. These new developments will continue to attract new residential tenants to the area and provide demand for high quality rental housing and service-oriented retail. In addition to these new drivers the property is well serviced by the 1 train along Broadway which provides convenient access to midtown Manhattan in under 20 minutes and is 1 stop from Columbia’s main campus.
567 West 125th Street contains 22 spacious apartments & two retail spaces. Of the 22 residential units, 17 are Free Market, 4 are Rent Stabilized, and 1 is Rent Controlled. Layouts are configured as 1 one-bedroom, 1 four-bedroom and 20 three-bedroom units, with an average unit size of approximately 715 square feet. The Free-Market apartments are renting for an average of $45 PSF, or ~$900 per bedroom representing a significant discount to citywide trending rents.