33 west 89th street - images4.loopnet.com · paul smadbeck managing director +1 212 377 2278...

PROPERTY FEATURES

PROPERTY DESCRIPTION

For more informationor inspection, please contactExclusive Agents:

PAUL SMADBECKManaging Director+1 212 377 [email protected] com

CONRAD MARTINAssociate+1 212 377 [email protected] com

TEDDY GALLIGANAssociate+1 212 377 [email protected] com

DISCLAIMERAlthough information has been obtained from sources deemed reliable, neither Owner nor JLL makes any guarantees, warranties or representations, express or implied, as to the completeness or accuracy as to the information contained herein. Any projections, opinions, assumptions or estimates used are for example only. There may be differences between projected and actual results, and those differences may be material. The Property may be withdrawn without notice. Neither Owner nor JLL accepts any liability for any loss or damage suffered by any party resulting from reliance on this information. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement. ©2017. Jones Lang LaSalle IP, Inc. All rights reserved

33 West 89th Street

JLL has been retained on an exclusive basis to arrange for the sale of 33 West 89th Street, a 5-story Renaissance Revival townhouse with a 4-story rear extension. Situated on a quiet, tree-lined block just steps from Central Park, this historic row house was designed by the prolific period architect Gilbert A. Schellenger and constructed in 1894-95 as part of an original row of eleven (#’s 19-39), all of which remain today.

The property is currently laid out as nine fair-market apartments consisting of a garden level 2-bedroom floor-through, seven 1-bedroom apartments and one studio unit with a private terrace. The building is serviced by a gas-fired boiler and each unit is individually metered for

both gas and electric. The basement boasts a generous 9 foot ceiling height and laundry facilities at no cost to tenants. The property is owned in a co-op structure with 100% of the co-op shares being offered for sale.

33 West 89th Street is a beautifully maintained, fair-market historic brownstone that presents purchasers with flexible options - to expand the garden floor-through into a larger owner’s unit while collecting income from the remaining units above, or to restore the entire property to its original grandeur as a spectacular park-block single family home.

LOCATION North side of West 89th Street between Central Park West and Columbus Avenue

BLOCK / LOT 1203 / 20LOT SIZE 19’ x 100.67’ LOT AREA 2,013BUILDING SIZE 19’ x 70’ (Irr.)STORIES 5 (4 Story Rear Extension)ABOVE GRADE SF 6,270 (Per DOF)UNITS 9 FMZONING R7-2 / 3.44 FARHISTORIC DISTRICT Upper West Side - Central Park WestAIR RIGHTS 655 SF (Approx.)ASSESSMENT (18/19) $560,743 (Tax Class 2C)PROJECTED TAXES (18/19) $67,323

ASKING PRICE: $6,900,000

MULTIFAMILY TOWNHOUSE STEPS FROM CENTRAL PARK9 FAIR-MARKET APARTMENTS • IDEAL LIVE + INCOME OR SINGLE-FAMILY CONVERSION

W 90TH ST

W 89TH ST

COLU

MBU

S AV

E

CENTRAL PARK W

BLOCK1203

20

19’

100.67’

HALL OSTERManaging Director+1 212 377 [email protected] com














33 West 89th StreetMULTIFAMILY TOWNHOUSE STEPS FROM CENTRAL PARK

REVENUEMONTHLY INCOME $23,300ANNUAL INCOME $279,600

RENT ROLLUNIT LOCATION STATUS TYPE LEASE EXP. IN PLACE RENT ANNUAL RENT1A Ground Floor FM 2 BR Floor Thru 6/30/2020 $4,600 $55,2001B Second Floor - Front FM 1 Bed 9/30/2018 $2,000 $24,000 2B Second Floor - Rear FM 1 Bed 2/28/2019 $2,600 $31,2001C Third Floor - Front FM 1 Bed 10/31/2018 $2,400 $28,8002C Third Floor - Rear FM 1 Bed 5/31/2019 $2,600 $31,2001D Fourth Floor - Front FM 1 Bed 8/31/2018 $2,350 $28,2002D Fourth Floor - Rear FM 1 Bed 1/31/2019 $2,400 $28,8001E Fifth Floor - Front FM 1 Bed 11/30/2018 $2,300 $27,6002E Fifth Floor - Rear FM Studio 10/31/2018 $2,050 $24,600TOTAL $23,300 $279,600

EXPENSESREAL ESTATE TAXES (18/19) Actual $67,323INSURANCE Projected @ $1.00 PSF $6,270WATER & SEWER Projected @ $750 / Unit $6,750HEATING FUEL Projected @ $1.65 PSF $10,346ELECTRIC Projected @ $0.35 PSF $2,195REPAIRS & MAINTENANCE Projected @ $550 / Unit $4,950SUPER Projected @ $600 / Month $7,200MANAGEMENT Projected @ 3.0% / EGI $8,136TOTAL EXPENSES $113,169

NET OPERATING INCOMEIN PLACE

GROSS ANNUAL REVENUE $279,600 VACANCY & CREDIT LOSS @ 3% - $8,388LESS EXPENSES - $113,169NET OPERATING INCOME $158,043

ASKING PRICE: $6,900,000


PAUL SMADBECKDirector+1 212 377 [email protected] com














33 West 89th StreetMULTIFAMILY TOWNHOUSE STEPS FROM CENTRAL PARK

33 west 89th street - images4.loopnet.com · paul smadbeck managing director +1 212 377 2278...

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