Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Cushman & Wakefield Retained Exclusively to Sell 56-Unit Mixed-Use Building on the Upper West Side

09/17/2015

Cushman & Wakefield has been retained on an exclusive basis to sell a mixed-use building at 370-374 Columbus Avenue, located between West 77th and West 78th Streets on Manhattan’s Upper West Side.  The asking price is $50,000,000.

The five-story elevator building contains approximately 31,125 square feet and sits on 78’ x 103.17’ lot.  It consists of 54 residential units and two commercial units with significant near-term upside potential in the retail component which features approximately 78 feet of frontage directly across from New York City’s iconic American Museum of Natural History where the entrance to a new 220,000 SF museum addition is planned. The property also holds approximately 30,065 square feet of additional development rights. 

This building is located at the epicenter of Manhattan’s Upper West Side, which has recently become home to a lively mix of families, young professionals, and college students.  It is in close proximity to Central Park and the American Museum of Natural History to the east, Lincoln Center to the south, Riverside Park and the Hudson River to the west, and Columbia University to the north, with a diverse range of beautifully designed buildings, award-winning restaurants, nightlife, performing arts centers, and a countless number of other attractions nestled in between.  Additionally, the property benefits from convenient accessibility to public transportation, with the 1, 2, 3, B, and C subway lines within short walking distance and various bus routes servicing the area.

This property is being marketed exclusively by Bob Knakal, Chairman, New York Investment Sales and Paul Smadbeck.

09/17/2015 - 18:00

Source

Cushman & Wakefield Capital Markets Group New York

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