206 W 80th St
New York, NY 10024

JLL has been retained on an exclusive basis to arrange for the sale of 206 West 80th Street, a 25’ wide, mixed use walk-up building containing 13 apartments on floors 1-5 and 2 step down commercial spaces on the basement level. The property is located on the south side of West 80th Street between Amsterdam Avenue and Broadway and is comprised of approximately 10,506 Sq. Ft.
The property benefits from recent upgrades to the common areas as well as 7 of the 13 apartments. The remaining 6
regulated apartments are in legacy condition and combine for approximately 60% of the building’s residential square footage.
In regard to infrastructure, the building is heated via a gas fired boiler and is individually metered for electric. Of the 13 apartments 7 are Free Market, 3 are Rent Stabilized with 1 (5W) currently vacant, and 3 are Rent Controlled. The Free-Market apartments have been renovated to include stainless steel appliances and in-unit washer and dryer. Additionally, the units are finished with wide-planked hardwood floors and stone countertops. The Free Market units are renting for an average of $4,031 per month while the Rent Controlled units (30% of total residential square footage) are averaging $573 which represents a 86% discount to prevailing market rent within the building. A substantial amount of future value can be created by renovating the Rent Controlled units upon vacature and setting a first rent.
The two commercial spaces are leased to Deborah Herschel & Support Solutions of New York Co. and are averaging $46.02/PSF in rent. Support Solutions of New York Co. has a lease in place until October 2028 while Deborah Herschel has a lease until June 2028.
206 West 80th Street benefits from its proximity to some of the best bars and restaurants the Upper West Side has to offer along Amsterdam Avenue and is half a block from Zabar’s Gourmet emporium. In addition to the culinary options the building is also well served by public transportation with the 1 train located at West 79th Street and Broadway.
206 West 80th Street will appeal to investors seeking a well located mixed-use building with additional upside. The property will be sold on an as-is where-is basis.