603 W 138th St
New York, NY 10031
Multifamily Property For Sale · 25 Units

CBRE has been exclusively retained to arrange for the sale of 603 West 138th Street, “the Property”, a six-story multifamily building located on the Northside of 138th Street between Riverside Drive and Broadway in the Hamilton Heights neighborhood of Northern Manhattan. This 75’ foot wide elevator building is approximately 31,550 gross square feet. The property consists of 25 spacious apartments (average unit size is 1,070 SF) and a laundry room for tenants. The Property’s unit mix includes fourteen three-bedroom, nine four-bedroom, and two five-bedroom apartments. All units are rent regulated; 23 are rent stabilized (RS) and 2 are rent controlled (RC). One RC unit will be delivered vacant allowing an incoming investor to renovate and set a new first legal RS rent. The Property is located steps away from the 1-Train subway entrance on 137th Street providing seamless connectivity to Midtown and all of New York City. Additionally, the Property is near some of the largest and renowned educational institutions in the region including Columbia University and the City College of New York; both within a 15-minute commute. Finally, Riverside Park, a four-mile-long park along the Hudson River, is just down the street. This prime location makes this the ideal place for families, young professionals, and students alike. The purchase of 603 West 138th Street represents the rare opportunity to acquire a well maintained cash flowing property in the beautiful community of Hamilton Heights, Manhattan.