Investment Overview

Marcus & Millichap is the exclusive sales broker for 23 West 87th Street (“Property”), a four-story walk-up apartment building located on the Upper West Side. The Property presents an opportunity for an investor to acquire a boutique multifamily asset in one of Manhattan’s most desirable residential neighborhoods. The Property’s unit mix is comprised of two studio apartments and eight one-bedroom apartments, of which eight are free-market and two are rent stabilized. The current rent roll provides stable cash flow with additional upside through future lease turnover and rent growth. The Property is located within an R7-2 zoning district and contains approximately 503 square feet of unused development rights. The Property is located between Central Park West and Columbus Avenue, just steps from Central Park. The surrounding area benefits from strong residential demand, excellent transportation access, and premier Upper West Side retail and dining amenities.