Updated a year ago
Off Market
1950 Amsterdam Ave
Washington Heights, Manhattan | West 156th Street & West 157th Street
14 Rooms14 Beds14 Baths12,362 Square FeetIncome Property
$7,500,000 $8,000,000
floors / apts6 / 14
Lot Size25'x100'
ZoneR7-2
Building TypeLow-Rise
RE Taxes$20,316
Price Per SF
$607
Listing Features
- High Ceilings
Outdoor space and views
- Backyard
- City Views
Building Amenities
- Video Intercom
- Bike Storage
- Elevator
- Fitness Facility
Property Description for 1950 Amsterdam Ave
We have been exclusively retained to arrange the sale of 1950 Amsterdam Avenue, a newly constructed six-story elevator building located in the Washington Heights neighborhood of New York. Completed in 2024, this property sits on the west side of Amsterdam Avenue between 156th and 157th Streets, just one block from the Broadway #1 train station.
Property Details:
Units: 15 total (14 free-market residential units and 1 commercial retail unit)
8 Studios
6 One-Bedroom Apartments
Size: Approximately 12,362 gross square feet
Features:
Keyless entry and remote video intercom
Common bike storage
Boutique fitness room
Landscaped backyard
Oversized casement windows
Rich white oak hardwood floors
High ceilings
Independent climate control
Designer kitchens with Bertazzoni electric ranges, stainless steel appliances, and stone countertops
In-unit washer-dryers
Investment Highlights:
Lease Status: 100% leased
Rent: In-place rents average $60 per square foot .
Location: Walking distance to The Met Cloisters, United Palace concert hall, Morris-Jumel Mansion, and Hispanic Society Museum & Library. The area features ample parks and green space, offering a serene residential environment with excellent public transportation options.
Investment Potential:
This property presents a unique opportunity for investors seeking a newly constructed, fully leased, free-market asset in a desirable location. With its modern amenities and attractive rent basis, it caters to a diverse tenant pool, including young professionals seeking convenience and charm.
Washington Heights is characterized by its blend of historic charm and modern living, surrounded by fitness centers, parks, shopping, dining, and essential services such as hospitals and schools.
For additional information or to arrange a viewing, please contact us.
Listing History for 1950 Amsterdam Ave
Now
12/05/2024
$7,500,000 [-$500,000] [6.3%]
Price Drop by Chris Halliburton
Compass
09/25/2024
$8,000,000
Initial Price by Chris Halliburton
Compass
Building Details for 1950 Amsterdam Ave
OwnershipIncome Property
Building TypeLow-Rise
Service LevelVideo Intercom
AgePost-War
AccessElevator
Year Built2024
Financing Allowed90%
Floors/Apts6/14
Transit and Citi Bike
Subway
157 St
0.16 miles
155 St
0.16 miles
163 St-Amsterdam Av
0.26 miles
155 St
0.29 miles
Citi Bike
Amsterdam Ave & W 156 St
0.05 miles
St Nicholas Ave & W 157 St
0.08 miles
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: 71566TH
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