303 West 74th Street_Property for Sale
303 West 74th Street_Property for Sale
303 West 74th Street, New York, NY, 10023, US

303 West 74th Street

Asset Description

JLL has been retained on an exclusive basis to arrange for the sale of 303 West 74th Street, a 30’ wide, walk-up apartment building located on the northside of West 74th Street between Riverside Drive and West End Avenue. Comprised of approximately 8,255 gross sf. ft., the 90% Market rate building is currently configured as 1 two-bedroom, and 9 one-bedroom apartments. The property has been well maintained and is being offered for sale for the first time in almost 50 years. This offering represents an outstanding value-add opportunity through apartment renovations, expansion of the ground floor apartments into the cellar, and by adding additional tenant amenities.

Of the 10 apartments, 9 are Free-Market and 1 is Rent Controlled. The Rent Controlled unit is currently paying $940 per month and the Free-Market units are averaging $2,456 per month which represents a substantial discount to prevailing neighborhood rents. Future ownership can add significant value by renovating the Free Market apartments, adding additional tenant amenities, and duplexing the units on the ground floor.  

 

In regard to infrastructure, the building is heated by a dual fuel boiler and the units are individually metered for gas and electric. Ownership has invested in the buildings infrastructure over the years replacing the boiler in 2000.

 

The property’s central Upper West Side location offers seamless access to the world class Broadway retail corridor in addition to popular bars / restaurants along Amsterdam Avenue. Neighborhood favorites in proximity include Zabars, Jacob’s Pickles & Barney Greengrass. In addition to the multitude of retail offerings the property is only two blocks from both Central & Riverside Parks. The Property also benefits from tremendous access to transportation, as it’s only two blocks from the West 72nd Street 1, 2, and 3 subway station which offers convenient access to midtown Manhattan.

 

303 West 74th Street represents an attractive opportunity to own a well located, primarily Free Market asset with desirable frontage, curb appeal and immediate value-add potential. The property will be sold on an as-is, where-is basis.


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Attributes

Year built
1900
Building area gross
8,255 sf
Land area gross
1,952 sf

Media

Investment Highlights

·       30’ of Frontage on Desirable UWS Block

·       Long Term Private Ownership

·       Value-Add via Unit Renovations and Additional Tenant Amenities

·       90% Market Rate

·       Steps from Broadway Retail Corridor & 1,2 & 3 Subway Lines

·       Spacious Front- and Back-line apartment layouts


Contact brokers

303 West 74th Street (0 Properties)

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Last updated
10 Apr 2024