Living / Multi-housing

600 Columbus Avenue

600 Columbus Avenue, New York, NY, 10024, US

Executive Summarydownload
600 Columbus Avenue_Property for Sale

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Asset description

JLL has been retained on an exclusive basis to arrange for the sale of 600 Columbus (the “Property”), a 14-story, full-service elevator building spanning an entire block front between West 89th and West 90th Streets on the Upper West Side. A rare opportunity to control over 200’ of Columbus Avenue frontage, the ~175,000 GSF Property is configured as 166 residential units over ~22,000 RSF of commercial space (~14,700 RSF on the ground and ~7,300 RSF on the second floor), ~7,150 RSF of community facility space on the second floor and a ~15,600 RSF parking garage.


Developed and managed by original ownership for over 35 years, 600 Columbus is now coming to market for the first time since its completion in 1986. The base building is in excellect condition and has been well-maintained pursuant to legacy operations. Future ownership will have the opportunity to unlock additional value through programmatic renovations to the Market Rate units (all of which are in legacy condition), cosmetic upgrades to the lobby / common areas and the addition of new tenant amenities. 

Attributes

Number of units
173 units
Occupancy
100.00%
Year built
1986
Building area gross
175,436 sf

Investment highlights

Substantial Scale: 14 Stories - 166 Resi. Units - 175K Gross Sq. Ft. (~29.2K Comm. / CF RSF & ~15.5K RSF Parking Garage) 


35+ Year Ownership – First Time to Market Since Original Construction


Rare Opportunity to Control Entire UWS Block Front – Over 200’ of Frontage Along Columbus Avenue


80% Market Rate (20% Subject to Section 8 Contract)


Diverse Income Streams: Residential, Community Facility, Retail & Parking Components


Well-Maintained, 1980’s Modern Base Building Construction


Block Through, Avenue Building with Quality Light & Air


Supply Constrained Submarket With Little Competitive Housing Stock – Luxury Condo Development, Stabilized Unit Warehousing & Single-Family Townhouse Conversions Reducing Local Rental Supply


Upper West Side Transformation – 15 Large Scale Condo Developments (680+ Units) Bringing Greater Wealth & Disposable Income to the Neighborhood


Superior Connectivity - 4-Min. Walk to 86th Street (B, C) Subway Station & 9-Min. Walk to 96th Street 1-2-3 Subway Station


Unrivaled Access to Green Space - Nestled between Central Park, Riverside Park & Theodore Roosevelt Park - West Side Community Garden & Playground 89 on Adjacent Blocks

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Last updated
Oct 3, 2022