567 West 125th Street

JLL has been retained on an exclusive basis to arrange for the sale of 567 West 125th Street, a 50’ wide 6 story mixed-use building located on the north side of West 125th Street between Broadway and Amsterdam Avenue. The property is ideally situated between Columbia University’s brand new $7 Billion Manhattanville Campus and the new 1.1 Million-square-foot Manhattanville Factory District. These new developments will continue to attract new residential tenants to the area and provide demand for high-quality rental housing and service-oriented retail. In addition to these new drivers the property is well serviced by the 1 train along Broadway which provides convenient access to midtown Manhattan in under 20 minutes. 567 West 125th Street contains 22 spacious apartments & two retail spaces. Of the 22 residential units, 17 are Free Market, 4 are Rent Stabilized, and 1 is Rent Controlled. Layouts are configured as 1 one-bedroom, 1 four-bedroom and 20 three-bedroom units, with an average unit size of approximately 716 square feet. The Free-Market apartments are renting for an average of $54 PSF, while the rent-regulated units are averaging $19 PSF representing a 68% discount to prevailing market rents. The retail is fully leased to Go! Go! Curry and Red Olive Deli through July of 2026 and 2028 respectively. Go! Go! Curry is an international franchise with six NYC locations and over 70 worldwide. Red Olive Deli recently completed a new build out of their space and is in the second year of a ten-year lease. The retail is leasing for a blended $92.79 PSF with each tenant paying a 15% share of the R.E tax recoveries over base years of 15/16 & 18/19 respectively. Both tenants have access to additional storage space in the basement. The property is heated by a #2 oil-fired boiler, is sub metered for both gas and electric, and is located in an Opportunity Zone which lies outside of all Historic Districts. Given the property’s spectacular location and proximity to major market drivers, 567 West 125th Street will appeal to investors seeking a primarily Free Market building in a neighborhood with solid underlying fundamentals and significant barriers to future rental supply. The property will be sold on an as is where is basis.