949 Columbus Ave
Listing Notes
A 7,750 SF mixed-use walk-up with nine free-market three-bedroom apartments over two commercial spaces: an operating restaurant with basement dining and a retail storefront leased to a shoe store. The headline: six of the nine apartments will be delivered vacant on September 1, and every unit in the building is free-market. An investor can start renovating the majority of the residential portion on day one, with no buyouts to negotiate and no regulated leases to work around. The value-add math is straightforward. Each apartment is a three-bedroom, one-bath layout. Add a second bathroom, in-unit laundry, and updated finishes, and these units rent at a different number. The two commercial tenants keep paying while the work happens, so the building produces income through the entire reposition. The location does the rest: two short blocks to Central Park, roughly ten blocks to Columbia University, with the 1, B, and C trains nearby and the restaurants of Columbus and Amsterdam at the doorstep. Most value-add deals make you wait years for the vacancy. This one hands it to you at closing.
Price in context
Cheaper than 0% of the 9 homes listed nearby right now, which run $3,250,000 to $5,500,000.
See all 9 nearby listings
| Address | Asking | Size |
|---|---|---|
| 425 Central Park W Unit 7CD | $3,250,000 | 3 bd · 3 ba |
| 425 Central Park W Unit 7CD | $3,250,000 | 3 bd · 3 ba |
| 285 W 110th St Apt 8B | $3,450,000 | 3 bd · 3 ba |
| 76 W 105th St Unit Ph | $3,475,000 | 4 bd · 4 ba |
| 272 W 107th St Apt 11C | $3,495,000 | 4 bd · 2.5 ba |
| 272 W 107th St Apt 11C | $3,495,000 | 4 bd · 3 ba |
| 218 W 103rd St # B | $3,999,000 | 3 bd · 4 ba |
| 138 Manhattan Ave | $4,500,000 | 5 bd · 3.5 ba |
| 138 Manhattan Ave | $4,500,000 | 5 bd · 4 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more
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