12 West 104th Street

JLL has been retained on an exclusive basis to arrange for the sale of 12 West 104th Street, a freestanding, 27’ wide, 5-story walk-up building located steps from Central Park. Configured as 16 apartments, the property is comprised of approximately 10,434 Sq. Ft. inclusive of the basement. Although located mid-block, 12 West 104th Street feels much like a corner building due to the adjacent public gardens on either side providing abundant light and air and protected views for all apartments. The residential units are configured as 16 two-bedrooms, all of which are Free Market. Floors 1-5 contain 3 units each and the basement contains 1 large apartment. The apartments are currently leased for an average of $3,061 per month. In regard to infrastructure, the building is heated via a #2 oil fired boiler and is individually metered for both gas and electric. 12 West 104th Street is poised to benefit from a post- COVID rebound in rents. Due to its fully Free Market status, proximity to transportation and high quality renovations, the property is set to capitalize on surging rental growth throughout the balance of the pandemic. The property also features several technology upgrades including Latch locking systems, upgraded Comelit intercoms, and cloud-based cameras located in the common areas. Given its unique location between to two city owned parks, the property benefits from superior views and unmatched light and air relative to the comparable rental stock in the neighborhood. Additionally, the building is ideally positioned just a short distance from Columbia University, Whole Foods at Columbus Square, the B C subway lines at West 103rd Street & Central Park West, and the 2 3 trains at 110th and Malcolm X Boulevard. The building’s central location and access to public transportation will act as a sustained catalyst for demand, attracting a broad spectrum of tenants and driving rental growth over the long term. 12 West 104th Street will appeal to investors seeking a low maintenance, Free Market building that is both close to Columbia University and well served by public transportation. The property will be sold on an as-is where-is basis.