The Boulevard Heights Portfolio, consisting of four multifamily buildings located at 3489 Broadway, 519 West 143rd Street, 610 West 163rd Street, and 548 West 164th Street in Manhattan’s West Harlem and Washington Heights neighborhoods, was sold in an all-cash transaction valued at $45,000,000.
The four pre-war buildings combine for 205 units and approximately 242,740 square feet. The portfolio features tremendous upside in its residential rents, and the sale price equates to approximately $185 per square foot.
3489 Broadway, located between West 142nd and West 143rd Streets, is a ten-story elevator building containing approximately 108,656 square feet on a 99.92’ x 125’ lot. It consists of 73 residential and two commercial units. 519 West 143rd Street, located between Broadway and Amsterdam Avenue, is a six-story elevator building containing approximately 29,520 square feet on a 70.83’ x 99.92’ lot. It consists of 24 residential units. 610 West 163rd Street, located between Broadway and Fort Washington Avenue, is a five-story walk-up building containing approximately 47,930 square feet on a 125’ x 142.17’ lot. It consists of 52 residential units. 548 West 164th Street, located between Broadway and St. Nicholas Avenue, is a six-story elevator building containing approximately 56,634 square feet on a 132.5’ x 99.92’ lot. It consists of 54 residential units.
All of the properties are extremely well located and close to public transportation and neighborhood anchors such as Columbia Presbyterian Hospital, The City College of New York, and the newly improved Riverbank State Park.