A 7,750 SF mixed-use walk-up with nine free-market three-bedroom apartments over two commercial spaces: an operating restaurant with basement dining and a retail storefront leased to a shoe store. The headline: six of the nine apartments will be delivered vacant on September 1, and every unit in the building is… Read More free-market. An investor can start renovating the majority of the residential portion on day one, with no buyouts to negotiate and no regulated leases to work around. The value-add math is straightforward. Each apartment is a three-bedroom, one-bath layout. Add a second bathroom, in-unit laundry, and updated finishes, and these units rent at a different number. The two commercial tenants keep paying while the work happens, so the building produces income through the entire reposition. The location does the rest: two short blocks to Central Park, roughly ten blocks to Columbia University, with the 1, B, and C trains nearby and the restaurants of Columbus and Amsterdam at the doorstep. Most value-add deals make you wait years for the vacancy. This one hands it to you at closing. Read Less
Listing Courtesy of: Tashi Dhargyal, Compass
Listing Snapshot
Days Online
1
Last Updated
Property Type
MultiFamily
Beds
20
Full Baths
11
Square Ft.
7,750
Lot Size
0.04 Acres
Year Built
1900
MLS Number
RLS20106083
Additional Details
Building
Entry Level: 1, Living Area Units: SquareFeet, Rooms Total: 40, Structure Type: MixedUse
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