484 Amsterdam Ave, New York, NY 10024
11 Unit Apartment Building | $8,900,000 ($809,091/Unit) | 5.12% Cap Rate | New York, NY 10024
For Sale
Active
Asking Price $8,900,000
- Property Type
-
Multifamily
- Square Feet
- 10,850 SF
Listing Contacts
Michelle Blake
- Property Info
Property Overview
484 Amsterdam Avenue is a five-story walk-up on Manhattan’s Upper West Side. The 19,176-square-foot building contains 12 residential apartments, a commercial space, and a basement. Benefit from an easily accessible location within two blocks from the 81 and Central Park subway station, two blocks from Central Park, and four blocks from 79th Street subway lines.
The well-maintained property has nine units that received a complete renovation in the last few years. Tenants enjoy high ceilings, designer kitchens with stainless steel appliances, and hardwood flooring. The high-demand apartment mix consists of four one-bedroom and one-bath units, seven two-bedroom and one-bath units, and a two-bedroom and two-bath penthouse unit with rooftop terrace access. Seven of the units have free market rents, four are rent stabilized, two are market rents, and one is rent controlled. Each unit is individually metered for electricity, and a gas broiler provides heating. A laundry room is in the basement for tenant convenience.
484 Amsterdam Avenue sits between 83rd and 84th Streets with prominent visibility. A restaurateur, Flor De Mayo, occupies the ground-floor commercial space and has operated out of this location for the last 23 years. This commercial space is separately metered for electric and cooking gas, with the tenant reimbursing the landlord for water and sewer consumption. The current lease is through January 31, 2029. In addition to Central Park, surrounding points of interest include Riverside Park, the AMC 84th Street 6 movie theater, and numerous dining options. Convenient access to subway stations, Broadway and Amsterdam Avenue buses, and the Henry Hudson Parkway provide efficient travel routes.
The well-maintained property has nine units that received a complete renovation in the last few years. Tenants enjoy high ceilings, designer kitchens with stainless steel appliances, and hardwood flooring. The high-demand apartment mix consists of four one-bedroom and one-bath units, seven two-bedroom and one-bath units, and a two-bedroom and two-bath penthouse unit with rooftop terrace access. Seven of the units have free market rents, four are rent stabilized, two are market rents, and one is rent controlled. Each unit is individually metered for electricity, and a gas broiler provides heating. A laundry room is in the basement for tenant convenience.
484 Amsterdam Avenue sits between 83rd and 84th Streets with prominent visibility. A restaurateur, Flor De Mayo, occupies the ground-floor commercial space and has operated out of this location for the last 23 years. This commercial space is separately metered for electric and cooking gas, with the tenant reimbursing the landlord for water and sewer consumption. The current lease is through January 31, 2029. In addition to Central Park, surrounding points of interest include Riverside Park, the AMC 84th Street 6 movie theater, and numerous dining options. Convenient access to subway stations, Broadway and Amsterdam Avenue buses, and the Henry Hudson Parkway provide efficient travel routes.
Property Details
- Class
- C
- Year Built
- 1900
- Stories
- 5
- Lot Size (sq. ft)
- 2,614 SF
- Units
- 11
Highlights
- 484 Amsterdam Avenue presents an attractive investment opportunity for a 12-unit Upper West Side residential walk-up in excellent condition.
- Building features include a ground-floor commercial unit, a laundry room, individually metered units for electricity, and gas broiler heating.
- Featuring a high-demand unit mix with four one-bedroom, one-bath units, seven two-bedroom, one-bath units, and a two-bedroom, two-bath penthouse.
- Nine of the units have received a full renovation and feature hardwood flooring, high ceilings, and designer kitchens with stainless steel appliances.
- Ideally situated between 83rd and 84th Streets with convenient access to two neighboring subway stations and Broadway and Amsterdam Avenue buses.
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