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Five-Story Manhattan Townhouse For Sale ($7MM) in Prime Upper West Side Neighborhood

7K sf above grade, 1K cellar, 1,737 sf lot, 17 x 102, Zoning R8B, Tax: $23k/yr

This is a value-added five-story townhouse available for sale ($7MM) in a prime Upper West Side Manhattan neighborhood. The property will be delivered vacant. The property can be gut renovated into an income producing property and is ideal for both home owners as well as investors.

This building is situated in one of the most affluent neighborhoods in Manhattan. The townhouse is located in a quiet tree-lined neighborhood; just 1/2 block away from Central Park. It’s in a prime location with easy access to world class museums, high-end retail, and some of the finest restaurants in NYC. The property is conveniently located near multiple transit stations.

Property taxes is $23K/yr

Using sales of comparable properties in the area we derive the following fair market value for the building:

$2,330psf = $16.3MM Fair Market Value

*The current 5K sf building is underutilized by 2K sf. A buyer can gut renovate and add an additional floor to become a 7K sf six-story building with a 1K sf cellar

Oxstones Real Estate, www.Oxstones.com CRE@Oxstones.com


Posted by on March 23, 2023.

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Categories: Finding Oxstones, Investment Wisdom, North America, Oxstone Investment Commentary, Real Estate, Retirement & Savings, Tools and Resources

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