Executive Summary
Cushman & Wakefield has been exclusively retained to arrange the sale of 323 West 80th Street. The 43’ × 44’ trophy asset sits on the corner of West 80th Street and Riverside Drive just steps away from Riverside Park. 323 West 80th Street is a 6-story, 9,768-square-foot elevator building, located on a tree-lined residential block in the heart of the Upper West Side. The property contains 9 residential units, including an owner’s duplex that spans the 2nd and 3rd floors. The property comes equipped with a private single car garage, an elevator, and a beautiful roof deck spanning the entire footprint of the property. 6 of the 9 units are statutorily free market and the remaining 3 units are rent stabilized. The expectation is to deliver the property free and clear of any rent regulated tenants upon the execution of a purchase and sale agreement. As a result of the property’s unique features it provides future ownership with a number of potential investment strategies to considering including User + Income, Single-Family Conversion, and a value-add multi-family opportunity.
Sale-Leaseback
Ownership’s desired outcome is to execute a sale of the property and a leaseback of their existing unit (2nd & 3rd Floor Duplex). The leaseback will be pre-negotiated before closing for a defined term/duration and a nominal fee. While a sale-leaseback is the desired execution, ownership is open to an outright sale of the property.
