Living / Multi-housing

567 W 125th Street

567 W 125th St, New York, NY, 10027-3428, US

567 W 125th Street_Property for Sale

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Asset description

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.



Attributes

Asking Price
$10,950,000
Year built
1901
Building area gross
21,768 sf

Investment highlights

  • 21,768 GSF - 22 Apartments 2 Stores - 50’ Wide
  • Substantial & Continuing Neighborhood Redevelopment / Expansion - Qualified Opportunity Zone
  • Post-COVID Rental Rebound
  • Ideal Location Between Columbia’s $7B Manhattanville Campus & New ~1.1M Sq. Ft. - Manhattanville Factory District
  • 3-Bedroom Layouts Well Suited for Apartment Shares
  • Immediate Upside FM Units ~30% Below Market
  • Columbia’s Fall 2022 Return to 100% In-Person Learning
  • 1-Min. Walk to 125th Street 1 Train Station –Connectivity to Midtown in Under 20 Minutes
  • 77% of the Apartments are Free Market

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Last updated
Nov 30, 2022