Property Description for 61-63 West 108th Street
> Ariel Property Advisors presents 61-63 West 108th Street, New York, NY, a five (5) story, twenty (20) unit walk-up building located on the north side of West 108th Street, between Columbus and Manhattan Avenues.
> The property’s unit mix consists of fourteen (14) three-bedroom, five (5) two-bedroom, and one (1) one-bedroom unit.
> The building also contains a super’s unit and laundry room in the basement.
> Due to existing J-51 benefits, the property is completely rent-stabilized.
> However, all residential leases contain preferential lease language and provide future owners flexibility and immediate upside.
> The property underwent extensive renovations in the late 1990s and has been maintained in excellent condition.
> All units boast hardwood flooring, a video-intercom system, and baseboard heating.
> A gas fired forced hot water boiler ensures clean and efficient heating throughout the building.
> Close proximity to local transportation and ongoing neighborhood developments, such as Columbia’s 17 acre expansion project, ensure strong and consistent rental demand.
> With its “turn-key” condition, prime location, and the unique ability to unlock immediate upside without costly renovations, 61-63 West 108th Street stands out as a premier Upper West side multifamily opportunity.