Invictus

INVICTUS Property Advisors is pleased to present the sale of 313 West 78th Street, a landmarked Upper West Side townhouse multifamily building with six (6) residential units. The five (5) story rowhouse was developed in the late 19th Century (EST. 1893-95) by developer J. & D. Dunn and architect George F. Pelham in the Renaissance Revival style with a limestone, yellow roman brick, and Terracotta façade. The building falls into the West End - Collegiate Historic District and is located on a beautiful tree-line street presenting both end-users and investors with an opportunity to purchase a townhouse on one of the most desired submarkets of the Upper West Side for less than $3,000,000, a historically low price.

The first two floors are configured as an owner's duplex two-bedroom, two-bathroom apartment with access to a garden. The charming unit features fireplaces, exposed wood ceiling beams, a spiral staircase and exposed brick. A renovated chef's kitchen with access to a lovingly landscaped backyard. Future ownership has the ability to create a triplex with a semi-below grade cellar level representing future upside. Upgraded amenities include a washer-dryer and central heating and air conditioning.

The rental units on the third, fourth and fifth floors consist of three (3) studios and two (2) one-bedrooms. Unit 4R has a private roof-patio which is located above the rear extension. The rental units present in place income to pay-off a mortgage and help cover future debt-service.

Ownership also benefits from the property falling into tax class 2A whereby state law limits how much the assessed value can rise each year - no more than 8% from the year prior or 30% over five (5) years. Such caps would remain even if 313 West 78th Street was converted into a condo property at some point in the future.

The subject property is located next to Riverside Park, and one block to the 1 train and the M79 crosstown bus taking you to the Upper East Side. Five blocks to the 2 & 3 express trains, Trader Joe's, & Bloomingdale's Outlet. Close to Central Park, DSW Shoe Warehouse, Zabar's, Fairway Market, Citarella, Columbia University, Fordham University Lincoln Center Campus, The Museum of Natural History, Shake Shack, and the B & C trains.

INVESTMENT HIGHLIGHTS

exclusive agents

Josh Lipton

Andrew Levine

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