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307 Amsterdam Ave 1,600 SF 100% Leased Retail Building New York, NY 10023 $6,909,804 CAD ($4,318.63 CAD/SF)
EXECUTIVE SUMMARY
JLL has been retained on an exclusive basis to arrange for
the sale of 307 Amsterdam Avenue, a 17’ wide, 4-story,
mixed-use building located on the east side of Amsterdam
Avenue between West 74th and 75th Streets. Located just
steps from the Upper West Side’s principal transportation
hub (West 72nd Street 1-2-3 subway station), the property
consists of 3 apartments & 1 ground floor commercial
space. All 3 apartments are Free Market with zero exposure
to rent regulation.
The Property’s commercial space is currently occupied
by Sala Thai, an upscale Thai restaurant and Upper West
Side neighborhood favorite on a lease through January of
2028. Sala Thai is currently paying base rent of ~$18,450
per month plus 50% of all real estate tax recoveries over
a 2017/2018 base year. The commercial space benefits
from tremendous foot traffic generated by the West 72nd
Street station, which has the 14th highest ridership out of
all 472 NYC subway stations.
The balance of the property consists of three free-market
apartments on floors 2-4. The residential unit layouts are
configured as one 3-bedroom floor through (2nd floor)
and two 2-bedroom floor throughs (3rd and 4th floor).
The residential units are averaging $3,516/month and
have been renovated on a one-off basis over the years,
which presents the opportunity to increase revenue via
cosmetic upgrades to both interior unit finishes and the
common areas.
The property is located just steps from the Upper West
Side’s principal transportation hub: the 72nd Street 1-2-
3 subway station at Verdi Square. Benefitting from the
intersection of the West 72nd Street, Broadway, and
Amsterdam Avenue corridors, the blocks surrounding this
area are an established and sought-after pocket of the
neighborhood for both residential and retail tenants.
Located in the heart of the Upper West Side, 307
Amsterdam Avenue represents a unique opportunity
to acquire a centrally located, mixed-use asset with zero
exposure to rent regulation. Featuring favorable tax class
status, the transit-oriented property offers future upside
in apartment rents with minimal deferred maintenance.
The property will be sold on an as-is, where-is basis
the sale of 307 Amsterdam Avenue, a 17’ wide, 4-story,
mixed-use building located on the east side of Amsterdam
Avenue between West 74th and 75th Streets. Located just
steps from the Upper West Side’s principal transportation
hub (West 72nd Street 1-2-3 subway station), the property
consists of 3 apartments & 1 ground floor commercial
space. All 3 apartments are Free Market with zero exposure
to rent regulation.
The Property’s commercial space is currently occupied
by Sala Thai, an upscale Thai restaurant and Upper West
Side neighborhood favorite on a lease through January of
2028. Sala Thai is currently paying base rent of ~$18,450
per month plus 50% of all real estate tax recoveries over
a 2017/2018 base year. The commercial space benefits
from tremendous foot traffic generated by the West 72nd
Street station, which has the 14th highest ridership out of
all 472 NYC subway stations.
The balance of the property consists of three free-market
apartments on floors 2-4. The residential unit layouts are
configured as one 3-bedroom floor through (2nd floor)
and two 2-bedroom floor throughs (3rd and 4th floor).
The residential units are averaging $3,516/month and
have been renovated on a one-off basis over the years,
which presents the opportunity to increase revenue via
cosmetic upgrades to both interior unit finishes and the
common areas.
The property is located just steps from the Upper West
Side’s principal transportation hub: the 72nd Street 1-2-
3 subway station at Verdi Square. Benefitting from the
intersection of the West 72nd Street, Broadway, and
Amsterdam Avenue corridors, the blocks surrounding this
area are an established and sought-after pocket of the
neighborhood for both residential and retail tenants.
Located in the heart of the Upper West Side, 307
Amsterdam Avenue represents a unique opportunity
to acquire a centrally located, mixed-use asset with zero
exposure to rent regulation. Featuring favorable tax class
status, the transit-oriented property offers future upside
in apartment rents with minimal deferred maintenance.
The property will be sold on an as-is, where-is basis
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
1,600 SF
Building Class
C
Year Built
1910
Price
$6,909,804 CAD
Price Per SF
$4,318.63 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
1.16
Lot Size
0.03 AC
Zoning
C2-7A - C2-7A primarily residential with commercial uses on the street level. Zoning is mapped in a few areas of Manhattan mostly on the Upper West Side.
Frontage
17’ on Amsterdam Ave
Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (90)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1146-0003 | Improvements Assessment | $547,804 CAD |
| Land Assessment | $393,697 CAD | Total Assessment | $941,501 CAD |
PROPERTY TAXES
Parcel Number
1146-0003
Land Assessment
$393,697 CAD
Improvements Assessment
$547,804 CAD
Total Assessment
$941,501 CAD
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307 Amsterdam Ave
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