565 WEST 173 STREET

For Sale - Manhattan - Washington Heights

$4,500,000

Net Operating Income: $250,287

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Key Details

Property Type
MultiFamily
Neighborhood
Washington Heights
Property Dimensions
38.0 x 100.0
Property Area
12,720 sq.ft.
Total Units:
16
Stories:
5
NOI
$250,287
Price
$4,500,000
Price Per Unit
$281,250
Cap Rate
5.6%

Listing Description

Avison Young is engaged by Ownership as exclusive agent to offer for sale 565 West 173rd Street (“Property”) in the Washington Heights neighborhood of Manhattan. The Property is situated on the north side of West 173rd Street between St. Nicholas Avenue and Audubon Avenue. Only a block away from Highbridge Park and close to the High Bridge, the oldest bridge in New York City, 565 West 173rd Street is an exceptional location in an up-and-coming Upper Manhattan neighborhood.

The five-story building encompasses 12,740± square feet across 16 units. The property is comprised of seven free-market units, seven rent-stabilized units and two rent-controlled units. There are also three vacant units, of which one is free market and two are rent-stabilized. The Property has renovated units and no deferred capital projects.

565 West 173rd Street presents an exceptional opportunity for an investor to acquire a property in a lively, emerging neighborhood. Within close proximity to the A, C and 1 subway lines at and nearby Highbridge Park, the Property is extremely well-positioned in Washington Heights.

Property Details

Block/Lot:
2130/25
Lot Dimensions
37.5 x 100.0
Lot Area
3,750 sq.ft
Zoning:
R7-2
FAR as Built:
3.39
Max FAR:
6.5
Carter LovejoyAvison Young
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Sales & Transactions

AddressSale PriceSale DateProperty Type
547 WEST 160 STREET$766,74106/29/2018MultiFamily
531 WEST 160 STREET$425,46206/29/2018MultiFamily
529 WEST 187TH STREET$1,395,00006/20/2018MultiFamily
4 SOUTH PINEHURST AVEN$19,550,00006/19/2018MultiFamily
574-576 WEST 176TH STREET$14,475,00006/14/2018MultiFamily
524 WEST 175 STREET$1,275,00006/01/2018MultiFamily
452 WEST 164 STREET$4,795,00004/17/2018MultiFamily
136 HILLSIDE AVENUE$2,013,80204/12/2018MultiFamily
552 W 161 ST$1,749,00004/11/2018MultiFamily
527 WEST 162 STREET$1,150,00003/22/2018MultiFamily