JLL has been retained on an exclusive basis for the sale of 860 West End Avenue, a ~21’ wide 5 story Renaissance Revival townhouse located steps from Riverside Park. The property features over 112’ of frontage wrapping around the north east corner of West End Avenue and West 102nd Street.
Originally constructed as the first in a row of five single family homes (860-868), 860 West End Avenue was converted in the 1930s to its current configuration as 6 rental apartments. Despite meticulous care, rents for these units are still below those of current market rates. Of the 6 apartments, 3 are Free Market renting at an average of $49.28 PNSF, while the 3 remaining Rent Stabilized units are renting at an average of $34.56 PNSF. Unit 2 will be vacating on 11/30/2019, which will result in a further
increase in Operating Income.
Designed by prominent Upper West Side architects Neville & Bagge, the property still features much of its original detail, which includes the vestibule and diamond plate staircase, wood floors, fireplaces, wainscoting, and ceiling treatments. Other notable features of the property are its tall ceilings, rich detail, tremendous southern exposure, and sweeping views of Riverside Park from the upper floors. The building is heated by gas-fired boiler and is individually metered for both gas and electric, and the basement features a laundry room for tenants that is accessible via separate entrance.
The property possesses approx. 4,620 SF of additional air rights and lies within the Riverside - West End Extension II Historic District. Pending Landmarks Preservation Commission approval, it may be possible to utilize a portion of the excess air-rights to create a penthouse atop the existing building. 860 West End Avenue presents a unique opportunity rich in both
history and detail. The property’s tremendous location, graceful facade, and corner locale will appeal to an array of buyers searching for prime real estate in the heart of the Upper West Side’s Bloomingdale District. 860 West End Avenue will be sold on an as-is where-is basis.