Cushman & Wakefield retained to sell fee position of UWS rental building

Cushman & Wakefield has been retained on an exclusive basis by Mount Sinai St. Luke's to sell the fee position of an apartment building at 1080 Amsterdam Ave. The property, located on the corner of Amsterdam Ave. and West 113th St. on the Upper West Side, is subject to a 99-year net lease. Ownership is requesting proposals for the fee position. The 20-story pre-war apartment building contains approximately 82,250 s/f and was leased in 2012 to a partnership of SL Green and Stonehenge, who have since completed a full gut-renovation of the entire property. Constructed circa 1932, the building features approximately 140' of combined frontage and stands at nearly 200' tall making it the tallest multifamily building in the area. It receives excellent light due to its southern exposure and offers stunning views of Midtown Manhattan, the Hudson River, and points east overlooking Morningside and Central Parks. "As the fee owners of 1080 Amsterdam Ave., Mount Sinai looks forward to a successful transaction negotiated by Cushman & Wakefield, the proceeds of which we plan to use to further enhance the quality health care services offered by Mount Sinai St. Luke's," said Tom Ahn, vice president of the real estate division, Mount Sinai Health System.