Multi-Housing

740 West End Avenue - For Sale

740 W End Ave New York, New York United States 10025-6246
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1915
Building Area
Number of units 101

Property Description

JLL has been retained on an exclusive basis to arrange for the sale of 740 West End Avenue “The Property”, an exceptionally maintained pre-war elevator building located on the northeast corner of 96th Street and West End Avenue. Constructed in 1915, the property has been owned and operated by the same family for multiple generations.


The 14-story building features ornate construction details with tremendous light and air due to its 225’ of wrap-around corner frontage on a pair of double wide streets. The 135,460 square foot property contains 101 units of which 37 are Free Market, 57 are Rent Stabilized (4 of which are vacant and 1 of which will be vacating by 10/31/21), 6 are Commercial and 1 is occupied by the super.


Purchasers will reap the benefits of impeccably maintained infrastructure with virtually no remaining deferred maintenance. Over the past 20 years ownership has invested heavily in upgrading the major buildings systems allowing the next owner to focus on unlocking value from the residential component. Legacy apartment renovations coupled with modern demand preferences have created a significant and immediate mark to market opportunity on the deregulated apartments. Generous unit sizes, excess potential amenity space and the ability to easily reconfigure layouts will provide prospective purchasers with a variety of repositioning strategies directly catering to the demographics of the Upper West Side.

Investment Highlights

-Long-Term Family Ownership

-Remarkable Real Estate

-Impeccably Maintained

-Value-Add Opportunity

-Immediate Mark-to-Market Potential

-Post-COVID Rental Rebound

-Curb Presence

-Protected Light & Air

-City & Hudson River Views

-Excellent Connectivity

Last Updated Date: 30 Sep 2021
Bob Knakal
Bob Knakal
Chairman, NY Investment Sales, New York Office Co-Head
License details
NY-10311207925
Hall Oster
Hall Oster
Managing Director, Capital Markets
License details
NY-10401321782

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Last Updated Date: 30 Sep 2021

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