10 RESIDENTIAL CO OP UNITS AND
8 MEDICAL OFFICE CONDO UNITS
107-111 WEST 82ND STREET
Table of Contents
Executive Summary ... 2
Property Information ... 3
Financial Information ... 4
Floor Plans ... 5
Transportation ... 10
Neighborhood Character ... 11
For More Information Please Contact:
Brett Weisblum
(212) 660-7784
[email protected]
Eric Roth
(212) 660-7757
[email protected]
Tyler Signora
(212) 589-5102
[email protected]
ASKING PRICE
$6,950,000
Highlights
•
10 Residential Co Op Units
•
8 Commercial Condominium Units
•
~90% Occupied
•
1 Block West of Central Park and the Museum of
Natural History
•
A short walk to the B, C, and 1 Subways
•
Located between the 79th and 86th Street Transverses
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 10 Residential Co Op units and 8 Commercial Condominium units located at 107-111 West 82nd Street. This 18-unit package is located on the north side of West 82nd Street between Amsterdam and Columbus Avenues, a prime residential block in the heart of the Upper West Side neighborhood. This unique package offers future ownership 10 residential Co Op units totaling 13,127 shares and 8 medical condominiums spread across 6,200 square feet. The Co Op units are 100% occupied and made up of one (1) 2-bedroom and nine (9) 1-bedroom apartments. 7 of the 10 residential units are Rent Stabilized with the remaining 3 being Rent Controlled. 6 of the 8 commercial condos are occupied, all by medical use tenants, bringing the total package occupancy to about 90%.
107-111 West 82nd Street is one block west of Central Park and the Museum of Natural History and a short walk east from all the theatres, shops and eateries located on the Broadway retail corridor. Tenants have easy access to transportation as they are one block northwest of the B and C subways lines and a short walk from the 79th Street 1 train stop to the west.
ASKING PRICE
$6,950,000
PRICE PER SF
$475
$386,111
PRICE PER UNIT
107-111 WEST 82ND STREET |2| Cushman & Wakefield
PROPERTY INFORMATION
Address: 107-111 West 82nd Street, New York, NY 10024
Location: Located on the north side of West 82nd Street between Amsterdam and Columbus Avenues. Block & Lot: 1213-7504
Lot Dimensions: 125’ x 102.17’
Lot SF: 12,771 SF (approx.)
BUILDING INFORMATION
Property Type: Mixed-Use Elevator
Building Dimensions: 125’ x 96’
Stories: 5
Year Built / Last Altered: 1880
Condo Common Charges: 16%
Coop Common Charges: 84%
Above Grade Gross SF: 55,048 SF (approx.)
Below Grade Gross SF: 0 SF (approx.)
Total Gross SF: 55,048 SF (approx.)
Residential Units: 58
Commercial Units: 8
Total Units: 66
Gross Residential SF: 48,846 SF (approx.)
Net Residential SF: 41,519 SF (approx.) 15% loss factor
Avg. Net Unit SF: 716 SF (approx.)
Above Grade Commercial SF: 6,202 SF (approx.)
SPONSOR INFORMATION Residential Units: 10 Commercial Units: 8 Total Units: 18 Coop Shares: 13,127 Approx Coop SF: 8,422
Approx Coop SF: 7,158 SF (approx.) 15% loss factor
NYC FINANCIAL INFORMATION (21/22)
Total Assessment: $400,000
Annual Property Tax: $49,068
Tax Rate: 12.2670%
Residential Coop Revenue:
UNIT ROOMS SHARES MAINTENANCEMONTHLY STATUS EXP. LEGAL RENT PREF. MONTHLY RENT
109-1B 3 1,270 $1,045 RS Aug-22 $936 $- $936 109-1C 3 1,219 $1,003 RS Apr-22 $848 $- $848 109-2B 3 1,270 $1,045 RC $561 $- $561 109-2C 3 1,219 $1,003 RC $625 $- $625 109-3A 3 1,270 $1,045 RS Aug-22 $1,022 $- $1,022 109-4A 3 1,270 $1,045 RS Dec-22 $877 $- $877 109-5A 3 1,270 $1,045 RC $530 $- $530 109-5D 3 1,219 $1,003 RS Sep-21 $888 $- $888 111-4C 4 1,560 $1,284 RS Mar-22 $1,030 $- $1,030 111-5B 3 1,560 $1,284 RS Aug-20 $1,038 $- $1,038
31 13,127 $10,802 Gross Monthly Residential Revenue: $8,355 Gross Annual Residential Revenue: $100,260 Average Rent per Unit: $836 Average Rent per Net SF: $14.01
Commercial Condominium Revenue:
UNIT TENANT SF MAINTENANCEMONTHLY LEASE EXP. BASE RENT $ / SF MONTHLY RENT
P101 Manhattan Psychology 1,369 $795 Aug-29 $49 $5,638
P102 Anne Marie Dooley 371 $214 Jan-22 $75 $2,318
P103 Group Center RE Corp. 810 $472 Aug-24 $48 $3,220
P104 367 $211 Vacant $65 $2,000
P105 Holistic Center of NY 897 $522 Jul-21 $62 $4,600
P106 Remedy Massage Therapy 375 $216 Feb-22 $67 $2,100
P107 367 $211 Vacant $65 $2,000
P108 Remedy Massage Therapy 1,631 $939 Jul-23 $47 $6,391
6,187 $3,580 Gross Monthly Commercial Revenue: $28,267 Gross Annual Commercial Revenue: $339,204 Average Rent per SF (Above Grade): $54.69 Total Gross Monthly Revenue: $36,622 Total Gross Annual Revenue: $439,464
107-111 WEST 82ND STREET |4| Cushman & Wakefield
1-Bedroom Co-op Sales
ADDRESS BEDS BATHS DATE PRICE SF $ / SF
127 WEST 79 STREET #11B 1 1 Mar-21 $815,000 800 $1,019
170 WEST 81 STREET #7C 1 1 Jan-21 $740,000 700 $1,057
565 WEST END AVENUE #8D 1 1 Jan-21 $850,000 1,050 $810
135 WEST 79 STREET #9D 1 1 Jan-21 $750,000 800 $938
317 WEST 87 STREET #7B 1 1 Dec-20 $785,000 742 $1,058
120 WEST 78 STREET #3D 1 1 Dec-20 $425,000 600 $708
324 WEST 89 STREET #B 1 1 Dec-20 $610,000 691 $883
2373 BROADWAY #1401 1 1 Dec-20 $825,000 721 $1,144
107 WEST 86 STREET #16G 1 1 Sep-20 $675,000 580 $1,164
70 RIVERSIDE DRIVE #4H 1 1 Jul-20 $767,000 800 $959
250 WEST 89TH STREET #5J 1 1 Apr-20 $920,000 850 $1,082
AVERAGE: $742,000 $979
2-Bedroom Co-op Sales
ADDRESS BEDS BATHS DATE PRICE SF $ / SF
2166 BROADWAY #14F 2 2 Dec-20 $1,148,000 1,080 $1,063
470 WEST END AVENUE #7B 2 2 Dec-20 $1,995,000 2,018 $989
514 WEST END AVENUE #6B 2 2 Oct-20 $1,350,000 1,200 $1,125
160 WEST 77 STREET #7A 2 2 Sep-20 $1,950,200 1,650 $1,182
545 WEST END AVENUE #15D 2 1 Jul-20 $1,301,000 1,100 $1,183
160 WEST 85 STREET #5H 2 2 Jun-20 $1,200,000 1,150 $1,043
311 WEST 76TH STREET #4 2 2 Apr-20 $1,350,000 1,100 $1,227
AVERAGE: $1,470,600 $1,116
| 6 | Cushman & Wakefield 107-111 WEST 82ND STREET
107-111 WEST 82ND STREET
107-111 WEST 82ND STREET
Professional Unit 101 – 1,369 SF
Professional Unit 103 – 810 SF
Professional Unit 104 – 367 SF
Professional Unit 102 – 371 SF
107-111 WEST 82ND STREET |8| Cushman & Wakefield
FLOOR PLANS
Approximately 49'-7" x 13'-9" Approximately 88'-0" x 15'-2" Approximately 23'-0" x 14'-0" Approximately 23'-0" x 13'-5"Professional Unit 107 – 367 SF
Professional Unit 105 – 897 SF
Professional Unit 108 – 1,631 SF
Professional Unit 106 – 375 SF
FLOOR PLANS
CONTINUED
Approximately 23'-0" x 13'-7" Approximately 23'-0" x 13'-7" Approximately 39'-9" x 12'-11" Approximately 59'-7" x 13'-8" Approximately 59'-7" x 13'-12"
107-111 WEST 82ND STREET |10| Cushman & Wakefield
TRANSPORTATION
MADISON SQUARE PARK UNION SQUARE PARK WEST 81ST ST WEST 86TH ST WEST 87TH ST WEST 88TH ST WEST 89TH ST WEST 90TH ST WEST 91ST ST WEST 92ND ST WEST 93RD ST WEST 94TH ST WEST 95TH ST WEST 96TH ST WEST 97TH ST WASHINGTON SQUARE PARK BRYANT PARK WEST 42ND ST WEST 34TH ST WEST 40TH ST 8TH A VENUE 7TH A VNUE AVENUE OF THE AMERIC
A S 5TH A VENUE MADISON A VENUE PARK A VENUE LEXING TON A VENUE 3RD A VENUE WEST 39TH ST WEST 38TH ST WEST 37TH ST WEST 36TH ST WEST 35TH ST WEST 33RD ST WEST 31ST ST WEST 30TH ST WEST 29TH ST WEST 44TH ST WEST 45TH ST WEST 46TH ST WEST 47TH ST WEST 48TH ST WEST 49TH ST WEST 50TH ST WEST 51ST ST WEST 52ND ST WEST 53RD ST WEST 54TH ST EAST 42ND ST EAST 34TH ST EAST 41ST ST EAST 40TH ST EAST 39TH ST EAST 38TH ST EAST 37TH ST EAST 36TH ST EAST 35TH ST EAST 33RD ST EAST 32ND ST EAST 31ST ST EAST 30TH ST EAST 29TH ST EAST 28TH ST EAST 27TH ST EAST 44TH ST EAST 45TH ST EAST 46TH ST EAST 47TH ST EAST 48TH ST EAST 49TH ST EAST 50TH ST EAST 51ST ST EAST 52ND ST EAST 53RD ST EAST 54TH ST EAST 55TH ST EAST 56TH ST EAST 57TH ST EAST 58TH ST EAST 59TH ST EAST 61ST ST EAST 62ND ST EAST 63RD ST EAST 64TH ST EAST 65TH ST 2ND A VENUE AMS TERD AM A VE C OL UMBUS A VE WES T END A VE WEST 74TH ST WEST 75TH ST WEST 76TH ST WEST 77TH ST WEST 78TH ST WEST 79TH ST WEST 80TH ST WEST 81ST ST WEST 82ND ST WEST 83RD ST WEST 84TH ST WEST 85TH ST AMS TERD AM A VE C OL UMBUS A VE WES T END A VE 2ND A VENUE 1S T A VENUE Y ORK A VENUE EAST 67TH ST EAST 68TH ST EAST 69TH ST EAST 70TH ST EAST 71ST ST EAST 72ND ST EAST 73RD ST EAST 74TH ST EAST 75TH ST 5TH A VENUE MADISON A VENUE LEXING TON A VENUE 9TH A VENUE 10TH A VENUE 5TH A VENUE WEST 23RD ST WEST 14TH ST 2ND A VENUE 1S T A VENUE EAST 23RD ST 3RD A VENUE LEXING TON A VENUE WEST 25TH ST WEST 24TH ST WEST 22ND ST WEST 21ST ST WEST 16TH ST WEST 19TH ST WEST 23RD ST WEST 18TH ST WEST 17TH ST WEST 20TH ST WEST 15TH ST WEST 11TH ST WEST 13TH ST WEST 12TH ST WEST 10TH ST WEST 9TH ST WEST 8TH ST WAVERLY PL EAST 76TH ST EAST 77TH ST EAST 78TH ST EAST 80TH ST EAST 81ST ST EAST 82ND ST EAST 83RD ST EAST 84TH ST EAST 85TH ST EAST 66TH ST EAST 79TH ST EAST 96TH ST EAST 86TH ST EAST 87TH ST EAST 88TH ST EAST 89TH ST EAST 90TH ST EAST 91ST ST EAST 92ND ST EAST 93RD ST EAST 94TH ST EAST 95TH ST EAST 97TH ST 11TH A VENUE FDR RD FDR RD FDR RD WEST 55TH ST WEST 56TH ST WEST 57TH ST WEST 58TH ST WEST 59TH ST WEST 60TH ST WEST 61ST ST WEST 62ND ST WEST 63RD ST WEST 64TH ST WEST 65TH ST WEST 66TH ST WEST 67TH ST WEST 68TH ST WEST 69TH ST WEST 70TH ST WEST 71ST ST WEST 72ND ST WEST 73RD ST AMS TERD AM A VE C OL UMBUS A VE 11TH A VENUE 9TH A VENUE 10TH A VENUE 12TH A VENUE 1S T A VENUE Y ORK A VENUE 5TH A VENUE MADISON A VENUE LEXING TON A VENUE PORT AUTHORITY PENN STATION GRAND CENTRAL HERALD SQUARE HUDSON YARDS 7 A C E L M F L N Q R W L 5 L L 5 Q R W R N M F C E A C E Q R W N B D A C E 7 Q R N 7 S B D F M 7 5 7 M F B D R N C E E B D Q R W N N R E M A C B D W N W R F Q Q Q E B C E B C B C B E M
107-111
W. 82ND
STREET
Upper West Side
The subject property is located in the heart of the Upper West Side. Known for it’s beautifully landscaped avenues and peaceful tree-lined streets that are decorated with elegant pre-war buildings, well-manicured brownstones nestled between New York City’s most premier outdoor spaces; Central and Riverside Park, makes the neighborhood the perfect location for residents to call home. The UWS is also home to world-renowned educational institutions that share the same spectacular reputation as the neighborhood itself and attract a global population. Dominating the main corridors of Broadway, Amsterdam, and Columbus Avenues are exclusive retailers, an abundance of fine dining and boutique eateries, and coveted cultural attractions that provide neighborhood residents with an array of amenities sure to exceed their needs and desires. Additionally, the property’s convenient location provides superior access to all corners of New York City via all means of public transportation options.
Commute
The Upper West Side provides an easy commute to every part of the city. Whether you are commuting downtown or across town there is a plethora of subway lines that run through the area. The Upper West Side is also great for students commuting to any schools on the west side such as Columbia University, the City College of New York, and NYU. Multiple train rides run through the west side with the 1,2,3 train line running through the middle and the A, B, C train line running park side. Numerous Citi Bike stations are perfect for an easy commute uptown or downtown. The Henry Hudson parkway connecting the highway downtown is perfect to grab and uber or taxi and avoid congested midtown traffic. Additionally, the commute from the Upper West Side to Hudson Yards, one of New York’s most popular destinations, is just a short ride on the 1 train.
Riverside Park
Riverside Park is Manhattan’s most spectacular waterfront park, stretching four miles from 72nd to 158th Streets along the Hudson River. Since 1875, the landscapes of Frederick Law Olmsted have offered escape from the city and opportunities for New Yorkers to relax, play and socialize in tranquil settings. Law’s design for Riverside Park made it one of the most beautiful boulevards in the world, affording views of the Hudson River along its serpentine route. Attributes and recreational amenities of the park include a pedestrian walkway and bicycle path, multiple ball fields, playgrounds, planted gardens, free kayaking, outdoor concerts, and various monuments including Grant’s Tomb and the Soldiers and Sailors Monument. The park is maintained by the New York City Parks and Recreation Department and supported by the privately financed Riverside Park Fund.
Elite Educational Opportunities
With respect to education, the area is known to outsiders for its world class, specialized schools and universities. To its residents, the countless elite educational opportunities is one of, if not the most, appealing amenities attracting a growing number of families to call the Upper West Side home. Among the most globally recognized and prestigious institutions are Columbia University, Fordham University, and The Juilliard School. The Upper West Side is also home to over 50 private schools, both secular and religious, serving children from nursery through 12th grade. Brand-name private schools such as the Collegiate School, Columbia Grammar & Prep School, The Heschel School, and the Trinity School have been molding successful students for years. Complementing these elite private institutions are a cadre of the city’s best public schools. Beacon High School, The Anderson School, and PS 9 Sarah Anderson boast low student teacher ratios, high performance on statewide testing, and high college attendance rates as well.
Cultural Amenities
In addition to the tremendous parks of the Upper West Side, residents are in close proximity to some of New York City’s most famous cultural landmarks. Lincoln Center for the Performing Arts is perhaps the most revered and one of the world’s best-known cultural complexes. Composed of three main buildings — the New York State Theater, the Metropolitan Opera House, and Avery Fisher Hall — Lincoln Center attracts world class music, opera, dance and cultural expression and talent from around the world. The Metropolitan Opera, which was established in 1883, has long been one of the world’s great opera companies, featuring over 200 performances annually. Lincoln Center is also home to the New York Philharmonic, New York City Ballet, New York City Opera, The Juilliard School, the School of American Ballet, as well as world-renowned festivals such as Mostly Mozart.
The world-renowned American Museum of Natural History as well as the Rose Center for Earth and Space, is one of the world’s most prestigious scientific and cultural research institutions. The museum contains a vast amount of intriguing both permanent and alternating exhibitions, such as its world-class collection of dinosaurs and ancient artifacts. Each exhibit is a beautifully displayed, interactive experience that is both fun and informative for all age groups. Two other sites nearby are the Fireman’s Memorial on Riverside Drive and 100th Street and tranquil Straus Park, which is located at the intersection of 106th Street, Broadway, and West End Avenue.
The Jewish Community Center (JCC) is an inclusive center that provides a wide range of cultural, social, educational and recreational activities for all age groups in its expansive facility. The center offers a year-round sense of a community to New York’s inhabitants and a place where to physically and intellectually invigorate both your and your family’s life. The JCC boasts a fully equipped spa, gym, and a 25-meter heated pool with a variety of private and group lessons and services as well as visual and performing arts classes.
Central Park
With the recent passing of its 150th Birthday Celebration, Central Park remains a recreational oasis and serves as New York City’s most defining and beloved landmark. The city has invested $300 million restoring the 843-acre park to its prime condition. The meandering paths and verdant landscape provide the perfect escape from the bustle of city life. The park, which is more than a half-mile wide and two and one-half miles long, offers a plethora of recreational facilities from tennis courts, jogging paths and softball diamonds to swimming at the Lasker pool and boating and dining at the Loeb Boathouse. The park is just as active in the winter as it is in the summer with ice skating at Wollman and Lasker Skating Rinks. For those less inclined to participate in athletic endeavors, Central Park offers an array of additional activities. The park has 136-acres of woodlands and 150-acres of lakes and ponds. Itinerant musicians and performers abound throughout the park. The Delacorte Theatre provides a more organized entertainment experience by presenting Shakespeare in the Park for free during the summer months. Whether you are interested in athletic competition, musical entertainment or just soaking in the sun, Central Park has something for everyone. The Central Park Conservancy is a nonprofit organization that coordinates with the City of New York to restore and enhance Central Park. Over the years, the group has invested more than $600 million to the cause and has recently received an additional $100 million donation from the Paulson Family Foundation to improve and maintain the park.
NEIGHBORHOOD CHARACTER
Cushman & Wakefield
107-111 WEST 82ND STREET
NEW YORK, NY
For More Information Contact:
Brett Weisblum
(212) 660-7784 [email protected]Eric Roth
(212) 660-7757 [email protected]Tyler Signora
(212) 589-5102 [email protected]CUSHMAN & WAKEFIELD
1290 Avenue Of The Americas, 8th Floor, New York, NY 10104 212 696 2500 | nyinvestmentsales.com
Cushman & Wakefield Copyright 2021. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
