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65 Arden St 27 Unit Apartment Building $7,188,988 CAD ($266,259 CAD/Unit) New York, NY 10040
EXECUTIVE SUMMARY
JLL has been retained on an exclusive basis to arrange
for the sale of 65 Arden Street, a 29-unit mixed-use
building featuring 148’ of wraparound frontage on the
corner of Arden Street and Sherman Avenue. The
building spans approximately 24,710 gross square feet
and is comprised of 27 residential apartments and two
commercial units. Of the 27 apartments, 5 are Free
Market (avg. $2,022/mo), 9 are Rent Stabilized with
preferential rents (avg. $1,847/mo) and 13 are
Rent Stabilized (avg. $1,399/mo). The apartments
benefit from tremendous natural light due to
the corner location and are made up of 19 onebedrooms and 8 two-bedrooms.
The retail space is fully leased to a medical multispecialty
care facility and hair salon. The care facility has a lease
through 2026 and is paying approximately $55 PSF.
The tenant took possession in 2016 and has invested in
the unit over the years. The space features frontage on
both Arden Street and Sherman Avenue. The hair salon
occupies roughly 500 SF along Sherman Avenue and is
on a month-to-month lease paying $1,425/Month.
Centrally located at the southern border of Inwood,
the property is a 5-minute walk to both Dyckman
Street subway stations for the 1 A trains providing
convenient access to midtown Manhattan. The
property also benefits from surrounding national and
neighborhood retailers, The Met Cloisters, and Fort
Tryon Park which offers over 67 acres of greenspace
along the Hudson River.
65 Arden Street will appeal to investors seeking
an opportunity to acquire exceptional real estate
substantially below replacement cost in a neighborhood
with solid underlying fundamentals. The property will
be sold on an as-is where-is basis.
for the sale of 65 Arden Street, a 29-unit mixed-use
building featuring 148’ of wraparound frontage on the
corner of Arden Street and Sherman Avenue. The
building spans approximately 24,710 gross square feet
and is comprised of 27 residential apartments and two
commercial units. Of the 27 apartments, 5 are Free
Market (avg. $2,022/mo), 9 are Rent Stabilized with
preferential rents (avg. $1,847/mo) and 13 are
Rent Stabilized (avg. $1,399/mo). The apartments
benefit from tremendous natural light due to
the corner location and are made up of 19 onebedrooms and 8 two-bedrooms.
The retail space is fully leased to a medical multispecialty
care facility and hair salon. The care facility has a lease
through 2026 and is paying approximately $55 PSF.
The tenant took possession in 2016 and has invested in
the unit over the years. The space features frontage on
both Arden Street and Sherman Avenue. The hair salon
occupies roughly 500 SF along Sherman Avenue and is
on a month-to-month lease paying $1,425/Month.
Centrally located at the southern border of Inwood,
the property is a 5-minute walk to both Dyckman
Street subway stations for the 1 A trains providing
convenient access to midtown Manhattan. The
property also benefits from surrounding national and
neighborhood retailers, The Met Cloisters, and Fort
Tryon Park which offers over 67 acres of greenspace
along the Hudson River.
65 Arden Street will appeal to investors seeking
an opportunity to acquire exceptional real estate
substantially below replacement cost in a neighborhood
with solid underlying fundamentals. The property will
be sold on an as-is where-is basis.
PROPERTY FACTS Under Contract
| Price | $7,188,988 CAD | Building Class | C |
| Price Per Unit | $266,259 CAD | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 26,270 SF |
| No. Units | 27 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | R7-2 - Medium density residential | ||
| Price | $7,188,988 CAD |
| Price Per Unit | $266,259 CAD |
| Sale Type | Investment |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 26,270 SF |
| No. Stories | 5 |
| Year Built | 1927 |
| Opportunity Zone |
Yes |
| Zoning | R7-2 - Medium density residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 27 | - | - |
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (99)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 2175-0088 | Improvements Assessment | $1,242,645 CAD |
| Land Assessment | $151,773 CAD | Total Assessment | $1,394,419 CAD |
PROPERTY TAXES
Parcel Number
2175-0088
Land Assessment
$151,773 CAD
Improvements Assessment
$1,242,645 CAD
Total Assessment
$1,394,419 CAD
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65 Arden St
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