Asking Price
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price
NOI Net Operating Income N/A
Cap Rate N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Building Area

Property Description

JLL has been retained on an exclusive basis to arrange for the sale of 237 West 72nd Street, a 23’ wide, 5-story mixed-use building located on the north side of West 72nd Street just west of the corner of Broadway and steps from the 72nd Street subway station. 


The property’s ground floor retail benefits from tremendous foot traffic generated by the subway hub which is one of Manhattan’s busiest (14 out of 472 stations). The retail space is currently anchored by Jenny Craig under a corporate-guaranteed long-term lease which expires in July of 2027. The balance of the property consists of a math tutoring school on the entire 2nd floor, and four free-market apartments on floors 3-5. Layouts for the apartments include two 2-bedroom units on the 3rd floor with the rear unit featuring a large private outdoor deck, a 3-bedroom floor-through unit on the fourth floor with a private deck, and an expansive 4-bedroom floor-through on the 5th floor. The apartments have been renovated on a one-off basis over the years which presents the opportunity to increase revenue via cosmetic upgrades to both interior finishes and common areas.  


In addition to the excellent subway access (1, 2 and 3 trains), the property is also served by multiple NYC bus routes including a stop directly in front of the building. The entrance ramp to the West Side Highway is just one block to the west. 


Located on one of the Upper West Side’s main wide-street retail corridors, 237 West 72nd Street represents a unique opportunity to acquire a centrally-located mixed-use asset with zero exposure to Rent Regulation or deferred maintenance and favorable Tax Class 2A status in one of the most vibrant New York City Neighborhoods. 

Investment Highlights

100% Free Market

Last Updated Date: 12 Aug 2021
Paul Smadbeck
Paul Smadbeck
Managing Director, Capital Markets
License details
NY - 10301203037
Hall Oster
Hall Oster
Managing Director, Capital Markets
License details
NY-10401321782

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Last Updated Date: 12 Aug 2021

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