Highview Apartments 560 Audubon Ave 93 Unit Apartment Building $9,900,000 ($106,452/Unit) 8.07% Cap Rate New York, NY 10040

560–568 Audubon Avenue represents a rare opportunity to acquire a stable, income-producing multifamily asset in one of Manhattan’s most resilient residential markets. The Property benefits from proximity to a cluster of major institutional anchors—including Columbia University Irving Medical Center, New York-Presbyterian Hospital, Yeshiva University, and CUNY in the Heights—all of which continue to expand and drive consistent housing demand throughout Washington Heights. The properties have been fully reviewed and vetted, with all regulatory matters current. Ownership has completed all required improvements and administrative updates, and there are no outstanding violations, fines, or open items.
Accordingly, the portfolio presents a clean regulatory profile, offering investors clarity, reduced compliance risk, and long-term operational confidence. Although New York City has changed considerably over the past decade, Washington Heights has remained a high-conviction submarket for multifamily investors. The neighborhood continues to demonstrate steady occupancy, dependable rent collections, and limited new supply. These fundamentals, supported by the presence of long-standing educational, and medical institutions reinforce the long-term stability of this asset and its position within one of Manhattan’s most durable residential corridors.
1. Durable Income Supported by Major Institutional Anchors Columbia University Irving Medical Center, New York-Presbyterian Hospital, Yeshiva University, and CUNY in the Heights continue to drive consistent housing demand throughout Washington Heights. Their long-term presence contributes to steady occupancy and dependable collections.
2. Large-Scale, Fully Stabilized Asset Offering Predictable Cash Flow With all 92 units operating under rent-stabilized frameworks, the Property provides a high degree of income predictability. Annual adjustments follow established city guidelines, supporting long term revenue planning and operational stability.
3. Low Turnover Supported by the Unit Mix The unit mix caters to a wide range of households within the neighborhood, contributing to historically low turnover and consistent occupancy. This supports stable operations and reliable revenue performance.
4. Strong Positioning Within an Established Residential Corridor Washington Heights remains one of Manhattan’s most stable residential environments, supported by transit access, institutional employment hubs, and a broad renter base. These characteristics reinforce the Property’s long-term operating consistency and make it a reliable component of any multifamily investment strategy.