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A blog for breaking sales and neighborhood real estate news.

A mixed-use building at 737 West End Avenue, located on the corner of West End Avenue and West 96th Street on Manhattan’s Upper West Side, was sold in an all-cash transaction valued at $7,550,000. 

The five-story building contains approximately 11,005 square feet on a 25.16’ x 100’ irregular lot and has been owned and operated by the same family for multiple. It consists of two retail units as well as nine large apartments of which two are vacant, five are rent stabilized, and two are rent controlled. All of the apartments are sub-metered for gas and electric and receive a tremendous amount of light due to the property’s corner locale and southern exposure. The sale price equates to approximately $686 per square foot and nearly a nil cap rate due to the constrained cash flow.

The property’s location allows for convenient access to Riverside Park, the Broadway retail corridor, and excellent transportation to all points in the city. The 96th Street 1-2-3 subway station, the West Side Highway and access to the east side via 97th Street are all in close proximity.

“737 West End Avenue’s corner locale and retail presence offered an opportunity rarely seen on the Upper West Side. As such, investors were willing to forgo immediate cash flow in exchange for long-term value,” said Massey Knakal’s Hall Oster, who exclusively handled this transaction.

Click here for press release

Neighborhoods: Upper West Side