Living / Multi-housing

323 West 89th Street

323 W 89th St New York, New York United States 10024-2104
Asking Price
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

I accept the confidentiality agreement
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. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. 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.
I accept the confidentiality agreement I accept the confidentiality agreement
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.

Key facts

Year Built 1900
Building Area Gross
Number of units 10
Occupancy 50.0 %

Property description

JLL has been retained on an exclusive basis to arrange for the sale of 323 West 89th Street, a 22’ wide, 5-story plus penthouse, multifamily townhouse located on the north side of West 89th Street between West End Avenue and Riverside Drive. Designed by renowned architect C.P.H. Gilbert in the Renaissance Revival style, the ~7,120 Sq. Ft. property is currently configured as 10 Free Market apartments. The building has been owned and well maintained by the same family for over 35 years.


The apartments are arranged as one studio, six convertible one-beds (two of which have yet to be converted from existing large studios), three duplex apartments that could function as 1-bed plus home office or loft 2-bedrooms, and a basement office. All three of the duplex apartments feature outdoor space: two are located on the penthouse level with private roof terraces and the third features exclusive access to the garden. The apartments are currently leased for an average of ~$2,679 per month (excluding vacant projections) in a market that could achieve $3,000-$4,500 per month depending on unit layout. Additional revenue can be added to the rent roll by combining apartment 1A and the basement office to create a 4th duplex apartment.

Investment highlights

  • Fully Decontrolled
  • 35+ Year Family Ownership
  • Excellent Single Family Conversion
  • Tax Class 2B
  • 22’ of frontage
  • Multiple Paths to Add Value
  • Riverside Park Block
  • 7 Floors of Usable Space
Last Updated Date: 07 Oct 2022

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

JLL, together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 07 Oct 2022

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.