4791 Broadway, New York, NY 10034

Washington Heights, New York, New York 10034

$21,000,000  

Listing ID Number

25682

Property Description

Cushman and Wakefield has been retained on an exclusive basis to arrange for the sale of 4791 Broadway. This investment property is a 69 unit, mixed-use, 6-story, 58,260 GSF corner building located in the Inwood neighborhood of Northern Manhattan. The property is located on the northwest corner of Broadway and Cumming Street (just one block north of Dyckman) and boasts 101’ of prime Broadway frontage.
65% of the property’s income is derived from the residential component and 35% from the ground floor retail. The building contains 63 residential units, including one super’s unit in the basement, and 6 retail spaces. The 63 residential apartments are a combination of 51 one-bedroom, and 11 two-bedroom apartments (plus 1 Super unit) that average a spacious 732 sqft. The residential portion of the building is currently renting at approximately $22 per net square foot in a market that can easily achieve over $30. Given the building’s desirable location, and strong foot traffic, retail rents in the building are averaging $90 per square foot.
Inwood is one of Manhattan’s most exciting and thriving neighborhoods and recently passed a major large scale rezoning. This rezoning impacts 59 blocks of Inwood and will have a positive impact on the entire neighborhood. 4791 Broadway is ideally situated between major retail corridors along Dyckman and West 207th Streets which offer tenants both neighborhood gems and large national chains. Some of these businesses include Tryon Public House, Papasiot, Tabu, Mamasushi, Mamajunana Café, Starbucks, Dominos, GNC, Planet Fitness, Duane Reade, CVS, Dunkin Donuts, Foot Locker and many more. A short walk from the building is the world famous Fort Tryon Park and the 196 acre Inwood Hill Park which further add to the desirability of the neighborhood. The property is one block from the Dyckman Street A train stop and less than 4 blocks from the Dyckman Street 1 stop.

Overview

Building Type:Apartment Buildings

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Robert M. Shapiro
Executive Managing Director
(212) 660 7717
robert.shapiro@cushwake.com

Ian Brooks
Director
(212) 589-5107
ian.brooks@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.