Descrição

JLL has been retained on an exclusive basis to arrange for the sale of 2647-2649 Broadway, a 60' wide, ~33,000 SF, 7-story, mixed-use elevator building. The property is situated on the west side of Broadway between West 100^th and West 101^st Streets and features 28 residential units and two commercial spaces.

The Free Market apartments are currently leasing below market providing immediate upside potential. Additional value can be added by modernizing common areas, adding tenant amenities, repositioning the vacant retail, and maximizing bedroom count potential.

The commercial component is comprised of two spaces, one of which is leased to a nail salon and the other is currently vacant. Adjacent retail operators include One Medical, Duane Reade, Westside Market, Chipotle, and the new Uptown Film Center. Multiple new construction developments in the surrounding area will continue to enhance this stretch of Broadway as additional well-heeled tenants / owners move to the immediate area.

The property benefits from its core Upper West Side location as well as its proximity to Columbia University. The location, large unit sizes and elevator will allow purchasers to target multiple tenant demographics including students, Columbia students, faculty and families which will allow future ownership to benefit from a larger tenant pool and continue to drive rents.

2647 Broadway provides investors with an opportunity to acquire a value-add elevator building in the heart of the Upper West side. The property will be sold on an as-is where-is basis.

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