JLL completes two UWS sales totaling $9.15 million

Manhattan, NY JLL Capital Markets has completed the sales of 124 West 73^rd St. and 164 West 81^st St., a pair of walk-up buildings on the Upper West Side, for a combined $9.15 million in two separate transactions. 

A local investor bought 124 West 73^rd St. for $4.15 million, and a single-family converter acquired 164 West 81^st St. for $5 million.

The JLL professionals overseeing the sale of 124 West 73^rd St. include managing directors Hall Oster and Paul Smadbeck; vice presidents Conrad Martin and Teddy Galligan; and associate Braedon Gait. The JLL team overseeing the sale of 164 West 81^st St. include Oster and Galligan.

124 West 73^rd St. is between Columbus and Amsterdam Aves. and features five floors of living space and a large two-story extension with a finished roof deck. Designed by architects Thom & Wilson in 1881, it was constructed as part of an original row of three townhouses, all of which are still standing. The historic Neo-Grec brownstone contains eight apartments, including a two-bedroom duplex, a one-bedroom duplex, a one-bedroom and five studios. The property also offers 2,349 s/f of excess air rights, which could be utilized in a renovation to expand on the top or rear of the building. This transaction represents the first sale of the property in over 50 years. 

Located between Columbus Ave. and Central Park West, 164 West 81^st St. was built in 1882 and underwent a full gut renovation in the early 2000s. It was then converted into its current configuration of eight studio apartments. The 18.75-ft. wide Renaissance Revival townhouse features 11-ft. ceilings, an oversized south facing garden and a finished basement, as well as modern kitchens and baths in all of the units. The property also offers 3,899 s/f of excess air rights that can be used to expand the property with a rear extension or a partial fifth story. 

Both properties are near Central Park, Lincoln Center, the Museum of Natural History and the world class shopping and dining options on Broadway, Columbus and Amsterdam Aves. 124 West 73^rd St. provides multiple transportation options with its proximity to the 1, 2, and 3 trains at 72^nd and Broadway. 164 West 81^st St. is steps from the 1 and 2 trains, as well as the A, B, C trains at the 81^st St.-Museum of Natural History station.

“124 West 73^rd St. was the first building sold from a portfolio of four that has been owned by the same family for nearly 50 years. The sale offered a competitive price for a fully free market opportunity with zero exposure to rent regulation within one of Manhattan’s most in-demand neighborhoods,” said Smadbeck.

“164 West 81^st St. was delivered vacant, which offered the purchaser the flexibility to reconfigure the property as they desired,” said Oster. “Its central location offered easy access to the rest of Manhattan while maintaining Upper West Side charm and convenience.”