1950 Amsterdam Ave
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1950 Amsterdam Ave
14 Unit Block of Flats £5,765,866 (£411,848/Unit) 6.50% Net Initial Yield New York, NY 10032
INVESTMENT HIGHLIGHTS
- Condo Finishes
- Gym
- Outdoor Lounge
EXECUTIVE SUMMARY
Compass has been exclusively retained to arrange the sale of 1950 Amsterdam Avenue, a newly constructed six-story elevator building located in the Washington Heights neighborhood of New York. Completed in 2024, this property sits on the west side of Amsterdam Avenue between 156th and 157th Streets, just one block from the Broadway #1 train station.
- This is a hot deal at 6.5 cap
-35 year tax abatement
-All utilities paid by tenants
-Waiting list of renters from Universities
Property Details:
Units: 15 total (14 free-market residential units and 1 commercial retail unit)
8 Studios
6 One-Bedroom Apartments
Size: Approximately 12,362 gross square feet
Features:
Keyless entry and remote video intercom
Common bike storage
Boutique fitness room
Landscaped backyard
Oversized casement windows
Rich white oak hardwood floors
High ceilings
Independent climate control
Designer kitchens with Bertazzoni electric ranges, stainless steel appliances, and stone countertops
In-unit washer-dryers
Investment Highlights:
Lease Status: 100% leased
Rent: In-place rents average $60 per square foot .
Location: Walking distance to The Met Cloisters, United Palace concert hall, Morris-Jumel Mansion, and Hispanic Society Museum & Library. The area features ample parks and green space, offering a serene residential environment with excellent public transportation options.
Investment Potential:
This property presents a unique opportunity for investors seeking a newly constructed, fully leased, free-market asset in a desirable location. With its modern amenities and attractive rent basis, it caters to a diverse tenant pool, including young professionals seeking convenience and charm.
Washington Heights is characterized by its blend of historic charm and modern living, surrounded by fitness centers, parks, shopping, dining, and essential services such as hospitals and schools.
For additional information or to arrange a viewing, please contact Compass.
- This is a hot deal at 6.5 cap
-35 year tax abatement
-All utilities paid by tenants
-Waiting list of renters from Universities
Property Details:
Units: 15 total (14 free-market residential units and 1 commercial retail unit)
8 Studios
6 One-Bedroom Apartments
Size: Approximately 12,362 gross square feet
Features:
Keyless entry and remote video intercom
Common bike storage
Boutique fitness room
Landscaped backyard
Oversized casement windows
Rich white oak hardwood floors
High ceilings
Independent climate control
Designer kitchens with Bertazzoni electric ranges, stainless steel appliances, and stone countertops
In-unit washer-dryers
Investment Highlights:
Lease Status: 100% leased
Rent: In-place rents average $60 per square foot .
Location: Walking distance to The Met Cloisters, United Palace concert hall, Morris-Jumel Mansion, and Hispanic Society Museum & Library. The area features ample parks and green space, offering a serene residential environment with excellent public transportation options.
Investment Potential:
This property presents a unique opportunity for investors seeking a newly constructed, fully leased, free-market asset in a desirable location. With its modern amenities and attractive rent basis, it caters to a diverse tenant pool, including young professionals seeking convenience and charm.
Washington Heights is characterized by its blend of historic charm and modern living, surrounded by fitness centers, parks, shopping, dining, and essential services such as hospitals and schools.
For additional information or to arrange a viewing, please contact Compass.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Granite Countertops
- Large Bedrooms
SITE AMENITIES
- Controlled Access
- Fitness Centre
- Lift
- Multi Use Room
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
| 1+1 | 6 | - | - |
1 of 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 2115-0036 | Improvements Assessment | £650,628 (2024) |
| Land Assessment | £25,767 (2024) | Total Assessment | £676,396 (2024) |
PROPERTY TAXES
Parcel Number
2115-0036
Land Assessment
£25,767 (2024)
Improvements Assessment
£650,628 (2024)
Total Assessment
£676,396 (2024)
ZONING
| Zoning Code | R72 (Located in the Washington Heights neighborhood of Manhattan between W 156th St & W 157th St near the 155th St subway station.) |
| R72 (Located in the Washington Heights neighborhood of Manhattan between W 156th St & W 157th St near the 155th St subway station.) |
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1950 Amsterdam Ave
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