650 W 173rd Street, New York, NY 10032

Washington Heights, New York, New York 10032

$9,500,000  

Listing ID Number

25124

Property Description

650 West 173rd Street is a 75’ wide, 25,400 square foot, 31 unit building located on the south side of West 173rd Street between Ft. Washington Avenue and Broadway. This five-story walk-up building is comprised of 10 one-bedroom, 20 two-bedroom and 1 three-bedroom apartments. All of the 31 units are rent stabilized. Apartments are currently renting for an average of $1,269per month and $22 per net square foot in a market that can achieve close to $39. Tenants benefit from the property’s close proximity to the Broadway and Saint Nicholas Avenue retail corridors which include national retail tenants like Starbucks, Dunkin Donuts, Rite Aid, Barnes & Noble and Chipotle as well as neighborhood anchors such as the Columbia University Medical Center , which includes Columbia University’s College of Physicians and Surgeons, College of Dental Medicine, School of Nursing and numerous other institutions. Public transportation is easily accessible via the 1, A and C subway lines at 168th Street in addition to numerous bus lines that service the area.

Overview

Building Type:Apartment Buildings
Stories:5
Units:31

Summary

Price Per Sq Ft:$374

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Ian Brooks
Senior Associate
(212) 589 5107
ian.brooks@cushwake.com

Robert M. Shapiro
Executive Managing Director
(212) 660 7717
robert.shapiro@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.