64 West 85th Street

Upper West Side   |   Central Park West & Columbus Avenue

Building for sale
$ 8,800,000
Ownership Income Property
Lot Size 19'x102'
Floors/Apts 6/10
Status Active
Real Estate Taxes [Per Annum] $ 74,568
Building Type Townhouse
Building Size 19'x68'
Year Built 1889
ASF/ASM 6,751/627
Listing ID: 52519TH

Property Description

64 West 85th Street is a classic 19'-wide Renaissance Revival style townhouse built in 1889 and designed by architect Gilbert A. Schellenger. The property is currently configured as 10 residential units spread across six floors including the lower level, approximately 7,200 square feet, and roughly 1,200 square feet per floor. 6 of the 10 units have been renovated by the current ownership. 9 units are FREE market and 1 unit remains as a rent stabilized unit offering further upside potential. The possibilities are endless at 64 West 85th Street. Based on current income and expenses, the asking price reflects an approximate 3% cap rate with approximately $293,000.00 in Net Operating Income. The price per square foot for the total interior square footage is approximately $1,200, allowing a buyer many options for the property. It is possible to convert the property to an Owners duplex with six rental apartments, an Owners triplex with four rental apartments, or an Owners quadraplex with two rental apartments for income to help offset the property expenses. The property also comes with proposed plans to convert to an expansive and luxurious single-family townhouse. There is an option to finish the rooftop as a terrace, or, in a single-family conversion, an option with a rooftop pop-up addition that would open to a finished rooftop terrace. The upside, in addition to owning a townhouse half of a block from the entrance to Central Park on the historical Upper West Side of Manhattan, is the many options available to purchaser for this pristine well-maintained property at a Great location.
64 West 85th Street is a classic 19'-wide Renaissance Revival style townhouse built in 1889 and designed by architect Gilbert A. Schellenger. The property is currently configured as 10 residential units spread across six floors including the lower level, approximately 7,200 square feet, and roughly 1,200 square feet per floor. 6 of the 10 units have been renovated by the current ownership. 9 units are FREE market and 1 unit remains as a rent stabilized unit offering further upside potential. The possibilities are endless at 64 West 85th Street. Based on current income and expenses, the asking price reflects an approximate 3% cap rate with approximately $293,000.00 in Net Operating Income. The price per square foot for the total interior square footage is approximately $1,200, allowing a buyer many options for the property. It is possible to convert the property to an Owners duplex with six rental apartments, an Owners triplex with four rental apartments, or an Owners quadraplex with two rental apartments for income to help offset the property expenses. The property also comes with proposed plans to convert to an expansive and luxurious single-family townhouse. There is an option to finish the rooftop as a terrace, or, in a single-family conversion, an option with a rooftop pop-up addition that would open to a finished rooftop terrace. The upside, in addition to owning a townhouse half of a block from the entrance to Central Park on the historical Upper West Side of Manhattan, is the many options available to purchaser for this pristine well-maintained property at a Great location.

Listing Courtesy of Garfield, Leslie J. & Co., Inc.

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Apartment Features

A/C
Washer / Dryer
Washer / Dryer Hookups
64 West 85th Street Upper West Side New York NY 10024

Building Details [64 West 85th Street]

Ownership Income Property
Service Level Voice Intercom
Access Walk-up
Block/Lot 1198/57
Building Size 19'x68'
Zoning R8B
Building Type Townhouse
Year Built 1889
Floors/Apts 6/10
Lot Size 19'x102'

Building Amenities

Roof Deck

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Loan Amount

Klara Madlin

License

Licensed Real Estate Broker


This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2020 REBNY Listing Service, Inc. All rights reserved. Additional building data provided by On-Line Residential [OLR].
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.