567 West 125th Street, New York, NY

$12,250,000

Price

21,768 sqft

Building Size

4,992 sqft

Lot Area

Overview
Building Size
21,768 sqft
Lot Area
4,992 sqft
Units
24
Zoning
R71-C2-4
Floors
6
Description

JLL has been retained on an exclusive basis to arrange for the sale of
567 West 125th Street, a 50’ wide 6 story mixed-use building located on
the north side of West 125th Street between Broadway and Amsterdam
Avenue. The property is ideally situated between Columbia University’s
brand new $7 Billion Manhattanville Campus and the new 1.1 Millionsquare-
foot Manhattanville Factory District. These new developments
will continue to attract new residential tenants to the area and provide
demand for high-quality rental housing and service-oriented retail.
In addition to these new drivers the property is well serviced by the 1
train along Broadway which provides convenient access to midtown
Manhattan in under 20 minutes.

567 West 125th Street contains 22 spacious apartments & two retail spaces.
Of the 22 residential units, 17 are Free Market, 4 are Rent Stabilized, and
1 is Rent Controlled. Layouts are configured as 1 one-bedroom, 1 four-bedroom
and 20 three-bedroom units, with an average unit size of
approximately 716 square feet. The Free-Market apartments are renting
for an average of $54 PSF, while the rent-regulated units are averaging $22
PSF representing a 61% discount to prevailing market rents.
The retail is fully leased to Go! Go! Curry and Red Olive Deli through July
of 2026 and 2028 respectively. Go! Go! Curry is an international franchise
with six NYC locations and over 70 worldwide. Red Olive Deli recently
completed a new build out of their space and is in the second year of a
ten-year lease.

The retail is leasing for a blended $90.79 PSF with each
tenant paying a 15% share of the R.E tax recoveries over base years of
15/16 & 18/19 respectively. Both tenants have access to additional storage
space in the basement.

The property is heated by a #2 oil-fired boiler, is sub metered for both gas
and electric, and is located in an Opportunity Zone which lies outside of
all Historic Districts.

Given the property’s spectacular location and proximity to major
market drivers, 567 West 125th Street will appeal to investors seeking a
primarily Free Market building in a neighborhood with solid underlying
fundamentals and significant barriers to future rental supply. The
property will be sold on an as is where is basis.

Highlights
  • Situated between New Columbia Manhattanville Campus & 1.1 Millionsquare- foot Manhattanville Factory District
  • Close Proximity to 1 train
  • 17/22 residential units are free market

Location
Gallery