Updated 3 days ago
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The Armstead
Upper West Side, Manhattan | Broadway & West End Ave
5 Rooms3 Beds2 BathsCo-op

$1,200,000
Maintenance$2,215

Listing Features

  • Ground Floor
  • Live/Work

Outdoor space and views

  • North Exposure
  • South Exposure

Building Amenities

  • Full-Time Doorman
  • Bike Storage
  • Elevator
  • Laundry Room
  • Roof Deck
  • Storage

Policies

  • Pets Allowed
  • Pieds A Terre Ok

Property Description

Invest securely with a possible 8 Cap return on this Live-Work Professional, Cooperative apartment rented on a long-term basis to the New York State Assembly as a District Office. This apartment features five rooms and two bathrooms. This fabulous, income producing space is Located in The Armstead, a Pre-War, 24Hr building located on the vibrant Upper Westside. There is a private, street level entrance as well as a lobby entrance. The current lease term will expire in June 2023 but NYS has continuously renewed for the last thirty years and has no intention of vacating unless asked by the next owner. Great for a 1031 Exchange. The Return on Investment is Superb! Cap Rate: 6.7
The monthly maintenance is $2215.19
The monthly rent is $8961.
Monthly profit is $6,745.81

Listing History

Now
10/18/2022
$1,200,000
Initial Price by Stephen P. Wald
Stephen P. Wald Real Estate Associates
2022

Building Details

OwnershipCo-op
Building TypeMid-Rise
Service LevelFull-Time Doorman
AgePre-War
AccessElevator
Year Built1925
Financing Allowed80%
Floors/Apts18/82
Learn More About the Building

Transit and Citi Bike

Subway

103 St
0.04 miles
Cathedral Pkwy (110 St)
0.28 miles
103 St
0.46 miles
96 St
0.47 miles

Citi Bike

W 106 St & Amsterdam Ave
0.12 miles
W 104 St & Amsterdam Ave
0.12 miles

Contact Agent

Contact Agent

Stephen P. Wald
Stephen P. Wald Real Estate Associates
View this property on the company's website

Building Availability

APPSF
Median
Average
-
$1,150,000
$1,150,000
Last 12 months
$982
-
-

Two Beds in Upper West Side

APPSF
Median
Average
$1,643
$1,600,000
$1,870,419
$1,755
$1,845,000
$1,995,556

Upper West Side | Manhattan

Quick Profile

Bracketed on its east and west borders by massive city parks, the Upper West Side (UWS) is known for its greenery, stately and elegant townhomes, safe streets and great schools, all of which make it a very desirable neighborhood for families. The UWS has maintained its community feeling, making it attractive to young professionals and retirees, both of whom want a sense of belonging in the place they call home.

Here you’ll find many apartment buildings, especially those along Central Park West. Historic architecture abounds, anchored by four luxury co-ops - the San Remo, Majestic, Century and Eldorado apartments - all of which have two towers on their interiors. They were built in the 1930s and their design was predicated on a 1929 building code that imposed a height limit on residences facing the street. There are also impressive row houses near Riverside Drive throughout the W 70 and 80 Streets. Above the 90s, you will find smaller buildings where walk-ups are very reasonably priced.

There are several world-class museums and venues dedicated to the performing arts. Plentiful dining can be found in the UWS. You will find everything from quaint Jewish delis serving up bagels and a schmear to sophisticated fine dining that has earned multiple Michelin stars, and everything you could possibly want in between. There is also abundant shopping and a vibrant nightlife.

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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: 2002041