119 W 81st St, New York, NY 10024

Live Plus Income Opportunity for Homebuyer or Investor. IPRG is pleased to offer 119 West 81st Street, a 5-story brick townhouse located on West 81st Street between Columbus and Amsterdam Avenue, steps away from Central Park. The 10-unit townhouse is built approximately 17 ft x 50 ft on all five levels, with an 8 ft x 12 ft extension on the first three floors, totaling 4,978 square feet. The property sits on a 102.17 ft lot and is zoned R8B with approximately 1,970 square feet of additional air rights. The building will be delivered 50% vacant, including the floor through 900 SF owner’s unit (1F/1R) on the ground floor which also has private backyard access. The remaining five occupied units include two free market and three rent stabilized units. Should the new owner choose, the 4th floor (Units 4F/4R – 800 SF) could also be combined into a floor through unit, making this a viable live plus income opportunity. The entire building will not be delivered fully vacant. The building benefits from the highly sought after 2B tax class. It is a well maintained, sprinklered property that has recently been repointed. The property has been owned and managed by the same family for nearly 50 years. All of the residential apartments have not been renovated in recent years which allows a purchaser the opportunity to immediately add value through renovation. This is a unique opportunity acquire a partially free market, partially rent stabilized building in the prestigious Upper West Side. The property is steps away from the American Museum of Natural History, Central Park, and retail along Columbus Avenue. The building is nearby the B, C subway stop at 81st Street and the 1 train at 79th Street. Vacant Units (5): 1F/1R - 900 SF - Already Combined + Backyard Access 3F – 475 SF 4F – 400 SF 4R – 400 SF Occupied Units (5): 2F – 475 SF 2R – 475 SF 3R – 475 SF 5F – 400 SF 5R – 400 SF