567-569 W 125th St
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567-569 W 125th St
22 Unit Apartment Building $9,450,000 ($429,545/Unit) New York, NY 10027
Executive Summary
JLL has been retained on an exclusive basis to arrange for
the sale of 567 West 125th Street, a 50’ wide, 6 story, mixeduse 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 million square
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 serviceoriented 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
and is 1 stop from Columbia’s main campus.
567 West 125th Street contains 22 spacious apartments & 2 retail
spaces. Of the 22 residential units, 17 are Free Market (77%), 4
are Rent Stabilized (18%), and 1 is Rent Controlled (5%). Layouts
are configured as 1 one-bedroom, 1 four-bedroom and 20 threebedroom units, with an average unit size of approximately
715 square feet. The Free-Market apartments are renting for
an average of $66 PSF, or ~$1,129 per bedroom representing a
significant discount to city-wide trending rents.
The retail is fully leased to Red Olive Deli and Kennedy Fried
Chicken through July of 2028 and June of 2039 respectively.
The retail is leasing for a blend of $106 PSF with each tenant
responsible for an additional 15% share of R.E. Tax escalations
over 2018/2019 & 2024/2025 base years respectively. Both
tenants have access to additional storage space in the basement
The property is heated by a #2 oil-fired boiler, is submetered
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 near several major
market drivers, 567 West 125th Street will appeal to investors
seeking a primarily Free Market building in a neighborhood
with strong underlying fundamentals and significant barriers
to future rental supply. Immediate gains will be realized on
subsequent lease turns as the building and area continue to
capitalize on strong post-COVID Manhattan rent growth. The
property will be sold on an as-is, where-is basis.
the sale of 567 West 125th Street, a 50’ wide, 6 story, mixeduse 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 million square
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 serviceoriented 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
and is 1 stop from Columbia’s main campus.
567 West 125th Street contains 22 spacious apartments & 2 retail
spaces. Of the 22 residential units, 17 are Free Market (77%), 4
are Rent Stabilized (18%), and 1 is Rent Controlled (5%). Layouts
are configured as 1 one-bedroom, 1 four-bedroom and 20 threebedroom units, with an average unit size of approximately
715 square feet. The Free-Market apartments are renting for
an average of $66 PSF, or ~$1,129 per bedroom representing a
significant discount to city-wide trending rents.
The retail is fully leased to Red Olive Deli and Kennedy Fried
Chicken through July of 2028 and June of 2039 respectively.
The retail is leasing for a blend of $106 PSF with each tenant
responsible for an additional 15% share of R.E. Tax escalations
over 2018/2019 & 2024/2025 base years respectively. Both
tenants have access to additional storage space in the basement
The property is heated by a #2 oil-fired boiler, is submetered
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 near several major
market drivers, 567 West 125th Street will appeal to investors
seeking a primarily Free Market building in a neighborhood
with strong underlying fundamentals and significant barriers
to future rental supply. Immediate gains will be realized on
subsequent lease turns as the building and area continue to
capitalize on strong post-COVID Manhattan rent growth. The
property will be sold on an as-is, where-is basis.
Property Facts
| Price | $9,450,000 | Building Class | C |
| Price Per Unit | $429,545 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 21,768 SF |
| No. Units | 22 | No. Stories | 6 |
| Property Type | Multifamily | Year Built/Renovated | 1901/1989 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid Rise |
| Price | $9,450,000 |
| Price Per Unit | $429,545 |
| Sale Type | Investment |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 21,768 SF |
| No. Stories | 6 |
| Year Built/Renovated | 1901/1989 |
| Opportunity Zone |
Yes |
Unit Amenities
- Dishwasher
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walking/Biking Trails
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1.5 | 22 | - | 850 - 900 |
Walk Score ®
Walker's Paradise (98)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 1982-0061 | Improvements Assessment | $1,533,600 |
| Land Assessment | $103,500 | Total Assessment | $1,637,100 |
PROPERTY TAXES
Parcel Number
1982-0061
Land Assessment
$103,500
Improvements Assessment
$1,533,600
Total Assessment
$1,637,100
zoning
| Zoning Code | C2-4/R7-2 |
| C2-4/R7-2 |
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