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315 West 82Nd Street BROWNSTONE for SALE

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315 West 82Nd Street BROWNSTONE for SALE 315 West 82nd Street BROWNSTONE FOR SALE - 1 - Table of CONTENTS 03 04 05 EXECUTIVE SUMMARY PROPERTY LOCATION SPECIFICATIONS 06 07 08 AS SEEN IN INCOME AND EXPENSES THE NEIGHBORHOOD THE NEW YORK TIMES 09 THE FUTURE - 2 - Executive Summary 315 WEST 82ND STREET This turn of the century brick and terracotta brownstone with large bay windows and multiple outdoor spaces is on a tree lined street of well maintained row houses. This is a fantastic opportunity to purchase a 10-unit apartment building (all Free Market) in the heart of Upper West Side and convert to live with income or create one magnificent residence. 315 West 82nd Street is one of five contiguous Romanesque Revival Row Houses - and still standing! Built and designed in 1887 - 1888 by the prolific team of Berg & Clark, this is a rare opportunity to live on a stunning expanse of late 19th century row houses with Beaux-Art flair. 315 West 82nd Street is all that remains to be developed as the others (307, 309, 311 & 313 West 82nd Street) have been converted into co-op apartments. *** Mortgage with First Republic at 3.65% due 6/2030 for $2,741,668. The building consists of three 2-bedroom apartments, six 1-bedroom apartments, and 1 studio apartment. Highlights of the units include the pre-war charms of exposed brick in the units. The penthouses include access to the roof and a backyard is available for the first floor. The interior photos show the wainscoting, wood banister, as well as an apartment on the penthouse level with outdoor space, high ceilings, hardwood floors. All units in this townhouse are free market. Hallways renovated, rear extension and penthouse added in 2001. Approximately 8,400 sq. ft. OFFERED FOR SALE: $6,995,000 - 3 - Property Specifications • Address: 315 West East 82nd Street, New York, NY 10024 • Neighborhood: Upper West Side • Block & Lot: 1245-0012 • Zoning: R8B • Class: C1 • Lot Size: 20 X 102.2 • Building Size: 20 X 55, 6-story building • Real Estate Taxes: $140,000 • Highlights: Location! Townhouse is located in the heart of the Upper West Side between Central Park and Riverside Park. Nearby transportation: 1,2,3 & B, C trains and multiple bus lines. Units have outdoor space, exposed brick, pre-war charm & high ceilings. Currently zoned for PS-9. (*Please double check with DOE- brokers are not responsible for zoning changes) - 4 - 19 LANDMARKS 1. The Ansonia 9 2. The Anthrop 20 12 3. The Belnord 4. Lincoln Center 18 5. Columbus Circle 3 25 23 13 26 6 21 2 15 SCHOOLS 27 6. PS 9 24 7 7. PS 87 28 8. Special Music School 1 29 9. Trinity 22 10. Collegiate 11. Heschel 12. Stephen Gaynor 13. Calhoun 14 14. Dwight 15. Rodeph Sholom 8 16. Fordham 10 30 17 17. Julliard 11 4 16 RESTAURANTS 5 18. Jacob’s Pickles 19. Carmine’s 20. The Mermaid Inn 21. Luke’s Lobsters 22. Café Luxembourg 23. Peacefood Café 24. Sushi Yasaka Location MUSEUMS With its grand bay windows, 315 West 82nd Street fits right in with its 25. Children’s Museum neighbors along this quintessential Upper West Side block. Just off Riverside 26. Museum of Natural History Park, the scenic area invites strolls, bike rides, dog walks and leisurely afternoons in Riverside Park overlooking the Hudson River. The bucolic neighborhood is home to a rich fabric of schools, activities, restaurants, grocery stores and museums – not to mention both Central Park and Riverside Park. Nearby subways include the 1 train, crosstown buses and STORES the B/C at Central Park West. This building offers residents wonderful 27. Zabar’s 28. Fairway opportunities to stick close to home or get around New York City. 29. Citarella 30. Trader Joe’s - 5 - As Seen in The New York Times 9/1/2020 The West 80s: An Aesthetic of Its Own - The New York Times https://nyti.ms/1OOIFV2 LIVING IN The West 80s: An Aesthetic of Its Own By Aileen Jacobson Jan. 13, 2016 Kim Johnson was introduced to the West 80s of Manhattan about a dozen years ago when she attended a party there, on one of the blocks between Riverside Drive and West End Avenue. She was then renting an apartment in the West 70s, with her husband, Scott, but she found something different, “something really magical,” in the 80s. To her, the area felt quiet, green, community-minded and “cozy,” she said. “We thought we were in a whole different city.” The Johnsons, who are Canadian, bought a ground-floor fixer-upper in a co-op near Riverside Drive that they renovated, soon adding another apartment above them, an alley behind the apartment that they bought from the co- op and turned into a “backyard,” and an apartment next door for Ms. Johnson’s father. They are raising their son, Jack, now 11, and daughter, Kate, 8, in the apartment. “Everything is here,” said Ms. Johnson, 45, who runs her own business making guards for city sidewalk trees. “We just tumble out the door and we’re in Riverside Park riding our bikes, all four of us.” Of course, the entire West 80s neighborhood, which also encompasses the more commercial streets of Broadway, Columbus Avenue and Amsterdam Avenue, is not so idyllic. But the area does “seem to have a different aesthetic” from its neighbors to the north and south, said Melissa Elstein, the secretary and a founding member of the West 80s Neighborhood Association. Besides streets lined with historic buildings, she said, it has “a lot of healthy restaurants”; an abundance of yoga classes (Ms. Elstein, 49, who has a law degree, now teaches yoga); and many residents who care about the environment. 219 WEST 81ST STREET, #4F A two-bedroom two-bath condo in a building with a gym and a roof terrace, listed at $2.175 million. (917) 279-7925 Karsten Moran for The New York Times https://www.nytimes.com/2016/01/17/realestate/the-west-80s-an-aesthetic-of-its-own.html 1/4 - 6 - Income and Expenses PROJECTED APPROX LEASE LEASE UNIT SIZE TERRACE RENT INCOME SQ FT EXPIRES TYPE (APPROX) 1A Studio N $2,200 300 8/31/20 Non Stabilized $2,400 1B 1 Bed Y $3,650 1,140 4/30/21 Non Stabilized $4,000 2A 1 Bed Y $2,750 370 7/31/20 Non Stabilized $3,000 2B 1 Bed Y $2,750 630 3/3/21 Non Stabilized 3,500$ 3A 1 Bed N $2,675 370 3/31/21 Non Stabilized $2,900 3B 2 Bed N $4,150 820 7/31/20 Non Stabilized $4,500 4A 1 Bed Y $2,900 360 10/31/21 Non Stabilized $3,200 4B 1 Bed N $3,150 630 8/31/20 Non Stabilized $3,500 PHA 2 Bed/2 Bath Y $3,900 910 5/21/21 Non Stabilized $4,900 PHB 2 Bed/2 Bath Y $5,000 940 8/31/21 Non Stabilized $5,500 Monthly $33,575 **Monthly $37,450 Annual $402,900 **Annual $478,392 ANNUAL EXPENSES Real Estate Taxes $140,000 Insurance $7,000 Repairs & Maintenance $5,000 Gas $8,000 Electric 950 Water & Sewer $4,600 Accounting $2,000 Anual Expenses $167,550 Net Operating Income Current $235,350 NOI PROJECTED: 310,842 **Projected **Renovations to consider: upgraded kitchens and baths, in unit washer/dryers, combinations, landscaping, system upgrades. - 7 - Neighborhood Just off Riverside Park, the scenic area invites strolls, bike rides, dog walks and leisurely afternoons in Riverside Park overlooking the Hudson River. The bucolic neighborhood is home to a rich fabric of schools, activities, restaurants, grocery stores and museums – not to mention both Central Park and Riverside Park. Landmark architecture such as The Ansonia, The Apthorp and The Belnord gives the area its aura -- and anchor stores such as Zabars, Fairway, Citarella, Trader Joe’s, give it its livability. Schools such as PS 9, PS 87, Special Music School, Trinity, Collegiate, Heschel, Stephen Gaynor, Calhoun, Dwight, Rodeph Sholom – as well as colleges such as Fordham and Julliard -- offer a wealth of educational opportunities. Popular restaurants include French Roast, Five Napkin Burger, Jacob’s Pickles, Carmine’s, The Mermaid Inn, Luke’s Lobster, Café Luxembourg, Peacefood Café and Sushi Yasaka to name just a few. Museums include CMom, Museum of Natural History and well as cultural centers at Lincoln Center, Columbus Circle add to the scope of reasons the area inspires such adoration from its diverse residents. Nearby subways include: CitiBike on Riverside Drive, the 1 train at West 79th Street and West 86th Street, cross town buses and the B/C at Central Park West. This building offers residents wonderful opportunities to stick close to home or get around the City. - 8 - The Future The new owner could also convert it to a single-family townhouse, live with income, or boutique condominiums. Upgrades to the interiors such as new kitchens and baths, landscaped outdoor spaces, and in unit washer /dryers where feasible should greatly enhance rent roll. The walk-up building consists of ten renovated, free-market apartments. This building provides the possibility of converting to a single-family residence or living in part of the building while earning income from the other units. With its grand bay windows, 315 West 82nd Street fits right in with its neighbors along this quintessential Upper West Side block. The new owner could capitalize on the many anchor stores, community amenities and schools in reshaping the interiors. FOR MORE INFORMATION PLEASE CONTACT Sabrina Seidner Matylda M Pearson Licensed Associate RE Broker Licensed Associate RE Broker Licensed as Sabrina J Seidner Licensed as Matylda Pearson m 917.805.9475 | o 212.401.1138 m 646.740.4938 | o 212.721.7227 [email protected] [email protected] Real estate agents affiliated with The Corcoran Group are independent contractor sales associates and are not employees of The Corcoran Group.
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