840 West End Avenue, New York, NY 10025

Upper West Side, New York, New York 10025

Listing ID Number

24871

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 840 West End Avenue, a prewar apartment building located on the northeast corner of West End Avenue and West 101st Street in the Upper West Side section of Manhattan. The property is a 6-story, elevator-serviced, residential apartment building that was constructed in 1910 and has recently undergone more than $7 million in capital improvements. Currently, it contains approximately 47,832 gross square feet and features 33 residential units in addition to 1 super’s unit. Additional plans have been meticulously prepared and partially approved for an approximate 5,000 SF penthouse addition.

The subject offering represents a unique and rare opportunity for an investor to acquire and further reposition an asset in one of New York City’s most prestigious residential enclaves. The subject building contains 33 residential units, including 13 one-bedroom, 10 two-bedroom, 3 three-bedroom and 7 four-bedroom units spread throughout six floors and averaging over 1,340 NSF each. Proposed plans call for a five-bedroom penthouse unit to be constructed. This plan was recently approved by Community Board 7 and Landmarks Preservation Commission representing tremendous value-add opportunity. Of the 34 units (incl. new PH), 21 are free market, 11 are rent stabilized and 2 are rent controlled. Furthermore, of the 33 existing units, 10 are currently vacant, of which 4 are in late stages of renovation and 2 have recently been completed to condominium level finishes. Lastly, the rent regulated apartments are rented for an average of approx. $15 PSF which represents a 79% discount to prevailing market rates and illustrates the significant upside still remaining.

Overview

Building Type:Apartment Buildings
Location:Northeast corner of West End Avenue and West 101st Street.
Block/Lot:1873/1
Lot Dimensions:100.92 x 100
Stories:6
Units:34
Zoning:R8

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Robert A. Knakal
Chairman, New York Investment Sales
(212) 660 7777
robert.knakal@cushwake.com

Hall Oster
Senior Managing Director
(212) 660 7723
hall.oster@cushwake.com

Jonathan Hageman
Executive Managing Director
(212) 660 7773
jonathan.hageman@cushwake.com

David Kalish
Director
(212) 660 7726
david.kalish@cushwake.com

Teddy Galligan
Associate Director
(212) 589 5137
teddy.galligan@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.