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Multifamily

1761 Amsterdam Ave

1761 Amsterdam Ave, New York, NY 10031

Listing Price: $3,250,000

Cap Rate
6.50%
Number of Units
14
GRM
12.71
Price/Unit
$232,143
Price/Gross SF
$293.32
Gross SF
11,080

Investment Overview

THE OFFERING
New York Multifamily is pleased to offer the following opportunity in the Hamilton Heights of Manhattan. 1761 Amsterdam Avenue is situated on a corner lot with 100' of frontage on West 147th street. The building is composed of 1 retail storefront, a cell tower and 13 residential apartments, 46% of which have been deregulated. The building offers a strong value add component allowing investors to capitalize on the deregulated apartments rent growth. Conveniently located right off the 145th street , Amsterdam Avenue and Broadway retail corridors being just steps away from the A/B/C/D/1 Subway terminals. Close proximity to St. Nicholas Park, City College, Columbia Presbyterian, and more.

THE OPPORTUNITY

The Building: 14-unit mixed-use apartment building located in the historic Hamilton Heights section of Manhattan.
Stabilization & Deregulation: 6 out 13 apartments - 46% - have been deregulated allowing investors to capture immediate upside in the rents.
Unit Composition: Favorable unit mix consisting of 2 one-bedrooms, 8 two-bedrooms, and 3 three-bedrooms with a retail storefront on Amsterdam Avenue.
The Metrics: Strong metrics with a 6.5% cap rate or 7.59x GRM with the upside potential of increasing cashflow over 15%.
Zero Deferred Maintenance: Main buildings systems have been well kept and upgraded throughout, allowing investors to minimize output on capital expenditures.
Prime Location: Surrounded by the 145th Street, Broadway & Amsterdam retail corridors being steps away from the 1/A/B/C/D subway terminals. Cafes, shopping, schools and more are all in walking distance

Investment Highlights

  • The Metrics: Strong metrics with a 6.5% cap rate or 7.59x GRM with the upside potential of increasing cashflow over 15%.
  • Stabilization & Deregulation: 6 out 13 apartments - 46% - have been deregulated allowing investors to capture immediate upside in the rents.
  • Unit Composition: Favorable unit mix consisting of 2 one-bedrooms, 8 two-bedrooms, and 3 three-bedrooms with a retail storefront on Amsterdam Avenue.

Exclusively Listed By

Financing By

Multifamily

1761 Amsterdam Ave

Listing Price: $3,250,000

Cap Rate
6.50%
Number of Units
14
GRM
12.71
Price/Unit
$232,143
Price/Gross SF
$293.32
Gross SF
11,080

Investment Highlights

  • The Metrics: Strong metrics with a 6.5% cap rate or 7.59x GRM with the upside potential of increasing cashflow over 15%.
  • Stabilization & Deregulation: 6 out 13 apartments - 46% - have been deregulated allowing investors to capture immediate upside in the rents.
  • Unit Composition: Favorable unit mix consisting of 2 one-bedrooms, 8 two-bedrooms, and 3 three-bedrooms with a retail storefront on Amsterdam Avenue.

Investment Overview

THE OFFERING New York Multifamily is pleased to offer the following opportunity in the Hamilton Heights of Manhattan. 1761 Amsterdam Avenue is situated on a corner lot with 100' of frontage on West 147th street. The building is composed of 1 retail storefront, a cell tower and 13 residential apartments, 46% of which have been deregulated. The building offers a strong value add component allowing investors to capitalize on the deregulated apartments rent growth. Conveniently located right off the 145th street , Amsterdam Avenue and Broadway retail corridors being just steps away from the A/B/C/D/1 Subway terminals. Close proximity to St. Nicholas Park, City College, Columbia Presbyterian, and more. THE OPPORTUNITY The Building: 14-unit mixed-use apartment building located in the historic Hamilton Heights section of Manhattan. Stabilization & Deregulation: 6 out 13 apartments - 46% - have been deregulated allowing investors to capture immediate upside in the rents. Unit Composition: Favorable unit mix consisting of 2 one-bedrooms, 8 two-bedrooms, and 3 three-bedrooms with a retail storefront on Amsterdam Avenue. The Metrics: Strong metrics with a 6.5% cap rate or 7.59x GRM with the upside potential of increasing cashflow over 15%. Zero Deferred Maintenance: Main buildings systems have been well kept and upgraded throughout, allowing investors to minimize output on capital expenditures. Prime Location: Surrounded by the 145th Street, Broadway & Amsterdam retail corridors being steps away from the 1/A/B/C/D subway terminals. Cafes, shopping, schools and more are all in walking distance

Exclusively Listed By

Financing By

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