12 WEST 104 STREET

For Sale - Manhattan - Upper West Side

$8,450,000

Net Operating Income: Contact Agent

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Key Details

Property Type
MultiFamily
Neighborhood
Upper West Side
Property Dimensions
27.0 x 89.0
Property Area
10,085 sq.ft.
Total Units:
16
Stories:
5
NOI
Contact Agent
Price
$8,450,000

Listing Description

JLL has been retained on an exclusive basis to arrange for the sale of 12 West 104th Street, a freestanding 27’ wide, 5 story walk- up located steps from Central Park. The building is configured as 16 apartments and is comprised of approximately 10,434 Sq. Ft. inclusive of the basement. Although mid-block, the property feels much like a corner building as adjacent public gardens on either side provide abundant light and protected views to all apartments.

The apartments are configured as 3 one-bedrooms and 13 two- bedrooms of which 15 are Free Market and 1 is Rent Stabilized. Floors 1-5 contain 3 units each and the basement contains 1 large apartment that steps out on grade to a south facing terrace. The market rate units are currently leased for an average of $2,931 per month and the remaining Rent Stabilized unit is rented for $1,413 per month, which represents a 52% discount to market rent within the building. In regard to infrastructure, the building is heated via a #2 oil fired boiler and is individually metered for both gas and electric. Possible value-add opportunities include modernizing apartment and common area finishes, adding a public roof deck and timing expirations to align with the summer leasing season in order to capture the full momentum of the rental market.

12 West 104th Street will appeal to investors seeking low maintenance, primarily Free Market building with additional upside and strong underlying fundamentals. The property will be sold on an as-is-where-is basis.

Property Details

Block/Lot:
1839/41
Lot Dimensions
27.0 x 100.92
Lot Area
2,725 sq.ft
Zoning:
R8B
FAR as Built:
3.7
Max FAR:
4.0
Hall OsterJLL
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Sales & Transactions

AddressSale PriceSale DateProperty Type
838 WEST END AVENUE$64,500,00007/31/2018MultiFamily
113 WEST 75TH STREET$5,000,00006/28/2018MultiFamily
6 WEST 75TH STREET$6,500,00006/28/2018MultiFamily
112 WEST 75TH STREET$4,500,00006/28/2018MultiFamily
316 WEST 88TH STREET$8,375,00006/27/2018MultiFamily
314 WEST 92ND STREET$8,900,00006/27/2018MultiFamily
43 WEST 76TH STREET$9,250,00006/19/2018MultiFamily
308 W 90TH STREET$3,900,00006/19/2018MultiFamily
226 WEST 97TH STREET$66,000,00006/15/2018MultiFamily
336 WEST 95TH STREET$30,000,00006/01/2018MultiFamily