$6,950,000 $6,995,000
Updated 2 days ago
Manhattan Valley, Manhattan | West 106th Street & West 107th Street
8,285 Square FeetIncome Property

$6,950,000 $6,995,000
floors / apts5 / 18
Lot Size25'1"x100'
Built Size25'x68'
Building TypeLow-Rise
RE Taxes$128,526
Price Per SF

Building Amenities

  • Voice Intercom

Property Description

Drivers of rent growth in the short term will include the ongoing citywide rental recovery and a return to full international enrollment at Columbia University this coming fall. The Property’s predominantly Free Market status, studio layouts and access to the Broadway 1 & Central Park B, C subway stations will be additional drivers of rent growth. Longer term demand will be supported by the supply constrained nature of the Upper West Side building stock, the long discussed potential redevelopment of West 106th Street and the continued evolution of the retail landscape along Columbus Avenue. Future ownership will have multiple paths to increase the Property’s cash flow. Light cosmetic upgrades to the apartments can position the Free Market component in-line with the top of prevailing area studio rents. Upon future vacancy of the remaining regulated units, perimeter changes and new unit configurations can be utilized to re-cast first market rents. In addition, the vacant basement space could be repositioned to offer tenant amenities such as storage or an in-building laundry service. Over the longer term, the property lies outside of all the UWS historic districts and possesses ~8,052 SF of additional air rights that could be used in the future to enlarge the existing structure.

Listing History

$6,950,000 [-$45,000] [0.6%]
Price Drop by Jonathan Hageman
Initial Price by Hall Oster

Building Details

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
Year Built1910
Learn More About the Building

Transit and Citi Bike


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0.37 miles

Manhattan Valley | Manhattan

Quick Profile

Many New Yorkers have walked through this small neighborhood countless times but may be unfamiliar with its name, which is often folded into the vastness of the Upper West Side. An ameatuer might even confuse the neighborhood with Harlem, Morningside Heights, or make up a new geographically descriptive name like, Upper Upper Westside. Manhattan Valley is bounded by 110th Street to the north, 96th Street to the south, Central Park West to the east and Broadway to the west. 

Manhattan Valley is a diverse, mostly residential neighborhood that is rich in history. The north side of the neighborhood has no shortage of historic row houses and distinctive buildings designed in a Romanesque, Victorian Gothic and Queen Ann style of architecture. If you’re a fan of architecture this may be an ideal place to visit. Contrasting the neighborhood's classical architecture in the north are the modern buildings of Columbus Square on the south side.

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: 86943TH