207-209 West 107th Street

JLL has been retained on an exclusive basis to arrange for the sale of 207- 209 West 107th Street, two adjacent 37’ wide 5 story plus basement walkup buildings. The properties lie on the north side of 107th Street between Amsterdam Avenue and Broadway, a short walk from Columbia University and in the heart of the Upper West Side’s Bloomingdale District. The buildings combine for 74’ of frontage, 32,200 RSF and 23 apartments of which 13 are Rent Stabilized, 1 is Rent Controlled, and 9 are rented at Market. The legacy Rent Regulated units are renting for an average of ~$14 PSF, which represents a ~74% discount to renovated apartment rents within the buildings. Each building conisists of two side by side floor-through apartments on floors 2-5, 1 floor-through and one ground-floor basement duplex apartment on the 1st floor, and 2 additional basement units. The duplex apartments are configured as 7 bedrooms with 3 bathrooms and the renovated floor-through apartments are configured as 5 bedrooms with 2 bathrooms. The vacant basement apartment (24th Unit), BW in 209 W 107, was previously used as a super’s unit and can be combined with a portion of 1W in order to create a new legal apartment. In addition, BE in 209 West 107 recently vacated and is poised for renovation. All apartments and common areas are heated via a gas boiler located in the basement. The buildings benefit from recent renovations to all Market units and ample future upside in the Rent Regulated components. Purchasers will have multiple pathways to add value both immediately and in the near term. Features of the buildings include a minimal loss factor, large layouts, ample light and air, high ceilings and spacious basements that have yet to be fully optimized. Additionally, local barriers to new construction, the property’s central location and proximity to both Columbia University and the 1 train on West 110th Street will continue to drive demand for apartments over the long term. 207-209 West 107th Street represents an excellent opportunity to purchase a multi-family asset in one of New York’s most dynamic neighborhoods.