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531-535 W 159th St
New York, NY 10032
Multifamily Property For Sale
·
36 Units
Investment Highlights
- Strong in-place revenue with significant rental growth potential driven by a robust Washington Heights market.
- Ideally positioned blocks from Riverside Park, Fort Washington Park, and the historic Morris-Jumel Mansion.
Executive Summary
Investment Highlights
100% Free-Market Residential Status:
Zero rent-stabilization restrictions allowing for market-rate rents and inflationary adjustments.
Prime Condo Conversion Exit:
2017 construction and "Special Condo Billing" status provide a seamless pathway for a high-margin unit sell-out.
Modern Boutique Elevator Asset:
Expertly maintained 7-story mid-rise spanning 37,651 SF, featuring contemporary systems and luxury aesthetic.
Strategic & Versatile Unit Mix:
Optimized distribution of residential layouts including six (6) Studios, nine (9) 1-Bedrooms, and twenty one (21) 2-Bedroom units to meet local demand.
Institutional Tenant Anchor:
Situated minutes from Columbia University Irving Medical Center, ensuring a consistent, high-credit professional tenant base.
Elite Transit & "Walker’s Paradise":
Boasts a 96 Walk Score and 100 Transit Score; located just 0.2 miles from the 1, A, and C subway lines.
Immediate Cash Flow with Upside:
Strong in-place revenue with significant rental growth potential driven by a robust Washington Heights market.
Vibrant Urban & Parkside Hub:
Ideally positioned blocks from Riverside Park, Fort Washington Park, and the historic Morris-Jumel Mansion.
100% Free-Market Residential Status:
Zero rent-stabilization restrictions allowing for market-rate rents and inflationary adjustments.
Prime Condo Conversion Exit:
2017 construction and "Special Condo Billing" status provide a seamless pathway for a high-margin unit sell-out.
Modern Boutique Elevator Asset:
Expertly maintained 7-story mid-rise spanning 37,651 SF, featuring contemporary systems and luxury aesthetic.
Strategic & Versatile Unit Mix:
Optimized distribution of residential layouts including six (6) Studios, nine (9) 1-Bedrooms, and twenty one (21) 2-Bedroom units to meet local demand.
Institutional Tenant Anchor:
Situated minutes from Columbia University Irving Medical Center, ensuring a consistent, high-credit professional tenant base.
Elite Transit & "Walker’s Paradise":
Boasts a 96 Walk Score and 100 Transit Score; located just 0.2 miles from the 1, A, and C subway lines.
Immediate Cash Flow with Upside:
Strong in-place revenue with significant rental growth potential driven by a robust Washington Heights market.
Vibrant Urban & Parkside Hub:
Ideally positioned blocks from Riverside Park, Fort Washington Park, and the historic Morris-Jumel Mansion.
Property Facts
| Sale Type | Investment | Building Class | B |
| No. Units | 36 | Lot Size | 0.17 AC |
| Property Type | Multifamily | Building Size | 32,172 SF |
| Property Subtype | Apartment | No. Stories | 7 |
| Apartment Style | Mid-Rise | Year Built | 2018 |
| Zoning | R7-2 - Medium-density apartment house district with lower parking requirements | ||
| Sale Type | Investment |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 32,172 SF |
| No. Stories | 7 |
| Year Built | 2018 |
| Zoning | R7-2 - Medium-density apartment house district with lower parking requirements |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Hardwood Floors
- Refrigerator
- Oven
Site Amenities
- Courtyard
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| Studios | 12 | - | - |
| 1+1 | 16 | - | - |
| 2+1 | 6 | - | - |
Property Taxes
| Parcel Number | 2118-1001 | Improvements Assessment | $3,682,762 CAD |
| Land Assessment | $325,312 CAD | Total Assessment | $4,008,073 CAD |
Property Taxes
Parcel Number
2118-1001
Land Assessment
$325,312 CAD
Improvements Assessment
$3,682,762 CAD
Total Assessment
$4,008,073 CAD
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