$3,050,000
Updated 11 years ago
Sold

505 West 161st Street

Washington Heights, Manhattan | Amsterdam Ave & Broadway

21,732 Square FeetRental Property

$3,050,000
floors / apts6 / 30
Lot Size50'x99'9"
Built Size50'x88'
ZoneR7-2
Building TypeLow-Rise
Price Per SF
$140

This property was sold for $2,900,000 on 10/10/12.

Building Amenities

  • Voice Intercom

Property Description for 505 West 161st Street

> 505 West 161st Street a 50’ wide, six (6) story walk-up apartment building located between Broadway and Amsterdam Avenue. > The property contains thirty residential units and one super’s apartment in the basement. > The building contains a unique unit mix consisting of one (1) studio, seventeen (17) one-bedroom, and twelve (12) two-bedroom apartments. > Further, the units consist of twenty-three (23) rent stabilized and (4) rent controlled units. > Thirteen apartments are on preferential leases, presenting significant potential upside. > The property enjoys excellent access to downtown and outer borough locations via the 1 train on Broadway, the Henry Hudson Parkway and the Harlem River Drive. > It also greatly benefits from its close proximity to major universities and Columbia Presbyterian Hospital. > Please note that the property is encumbered by a mortgage that must be assumed – please inquire for more details. > Offering a great location and substantial rental upside, 505 West 161st Street stands out as a premier Washington Heights multifamily opportunity.

Listing History for 505 West 161st Street

Now
10/25/2012
$2,900,000
Sold and Closed by Michael A. Tortorici
Ariel Property Advisors
05/13/2012
Contract Signed by Michael A. Tortorici
Ariel Property Advisors

Building Details for 505 West 161st Street

OwnershipRental Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1922
Floors/Apts6/30
Learn More About the Building

Transit and Citi Bike

Subway

163 St-Amsterdam Av
0.04 miles
157 St
0.25 miles
168 St-Washington Hts
0.34 miles
168 St
0.35 miles
155 St
0.36 miles

Railroad

Highbridge YardMetro-North Railroad
0.47 miles

Citi Bike

Amsterdam Ave & W 162 St
0.05 miles
W 160 St & St Nicholas Ave
0.09 miles

Contact Agents

Contact Agents

Michael Tortorici
Ariel Property Advisors
Shimon Shkury
Ariel Property Advisors
Victor Sozio
Ariel Property Advisors

Washington Heights | Manhattan

Quick Profile

Washington Heights, a hilly neighborhood on Manhattan’s northern tip known for its affordable apartments, preserved pre-war buildings, and Dominican food. Some would argue that it's a hidden gem and one of Manhattan's last neighborhoods that has retained its culture. The large swath of land is bordered by Inwood to the north along Dyckman Street, by Harlem to the South along 155th Street, by the Harlem River to the east, and the Hudson River to the West. It is the highest natural point on the Island of Manhattan. 

Despite its high residential density, Washington Heights and Inwood have not seen modern housing construction in more than a decade other than relatively small housing units. Midtown Manhattan, Battery Park, TriBeCa, Chelsea, and Hell’s Kitchen, on the other hand, have seen an increase in building. Most of the high rise construction belongs to hospitals such as New York Presbyterian, Columbia University Medical Center, and educational institutions like Yeshiva University and Boricua College. 

Washington Heights has access to amazing green spaces like The Cloisters, Fort Washington Park, Highbridge Park and Fort Tryon Park. There is no shortage of historical landmarks either. Remember General George Washington set up his camp in Washington Heights during the Revolutionary War. He used the elevated neighborhood to his tactical advantage to spot the Redcoats. As history would have it, his plan didn’t work out so well and the British occupied New York for seven years.  

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 41531TH