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1461 St Nicholas Ave 33,779 SF Specialty Building Offered at $17,500,000 at a 7.44% Cap Rate in New York, NY 10033
Investment Highlights
- Fully Occupied · Cash Flowing 100% leased to three established tenants across 33,779 SF. The building has been fully occupied for decades, producing s
- Tax Reimbursements Boost Yield Tenants reimburse $378,631 per year in property taxes, materially boosting effective yield. Total EGI including reimbur
- Mark-to-Market Rent Upside The anchor tenant's lease ($36/SF) is well below market, presenting significant rent growth optionality at expiration in Ju
- Government-Backed Anchor Tenant Anchor tenant occupies 30,779 SF (91%) under a government lease expiring July 2027. Tenant has been at this location f
- Prime Washington Heights Corner 175' of wraparound frontage at the high-traffic corner of St Nicholas Avenue and West 183rd Street. Steps from the Geo
- Ideal 1031 Exchange Vehicle Fully occupied, government-anchored asset with zero near-term leasing risk and a strong, tax-reimbursement-enhanced yield
Executive Summary
1461–1467 St Nicholas Avenue (601 West 183rd Street) is a three-story, fully-occupied commercial building situated on a prominent corner in Washington Heights, Manhattan. The building comprises a single 7,492 SF lot with 33,779 above-grade gross SF, encompassing one school tenant and two ground-level retail units. The anchor tenant has occupied the building for over 50 years — a testament to institutional-quality tenancy and location. With 175' of wraparound frontage at one of Northern Manhattan's busiest intersections, the property benefits from exceptional visibility, foot traffic, and transit access.
Property Facts
| Price | $17,500,000 | Property Subtype | School |
| Price Per SF | $518.07 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 7.44% | Building Size | 33,779 SF |
| Sale Condition | 1031 Exchange | No. Stories | 3 |
| Property Type | Specialty | Year Built/Renovated | 1928/1970 |
| Zoning | R7-2 - Retail | ||
| Price | $17,500,000 |
| Price Per SF | $518.07 |
| Sale Type | Investment |
| Cap Rate | 7.44% |
| Sale Condition | 1031 Exchange |
| Property Type | Specialty |
| Property Subtype | School |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 33,779 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1928/1970 |
| Zoning | R7-2 - Retail |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 2165-0069 | Improvements Assessment | $3,744,950 |
| Land Assessment | $350,550 | Total Assessment | $4,095,500 |
Property Taxes
Parcel Number
2165-0069
Land Assessment
$350,550
Improvements Assessment
$3,744,950
Total Assessment
$4,095,500
Contacts
-
Jonathan
Buerger
-
Brian
Whelan
-
Mitchel
Flaherty
-
Jake
Shapiro
-
Jonathan
Auerbach
-
Luke
Stone
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Photos
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1461 St Nicholas Ave
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