Ariel Property Advisors has exclusively listed 3600-3610 and 3621 Broadway in the Hamilton Heights neighborhood of Upper Manhattan. The four-building, mixed-use assemblage with 225 feet of retail frontage on a prime location on Manhattan’s most prominent thoroughfare is listed for $42.5 million. The portfolio comprises 102 units across 115,514 combined gross square feet with82residential units, 19 retail units and one storage unit. The residential component features two five-bedroom, 41 four-bedroom, 31 three-bedroom and 7 two-bedroom apartments, as well as one superintendent apartment. The brokerage team for the listing includes Victor Sozio, Executive Vice President; Michael A. Tortorici, Executive Vice President; Shimon Shkury, President; and James Nestor, Associate Director, Investment Sales.
“This portfolio in the heart of bustling Hamilton Heights is an opportunity to gain a diversified foothold in a dynamicmarket,” says Sozio. “The Broadway frontage is substantial, with the added value of two prime corner locations at 148th & 149th Street. A mix of free market and rent stabilized residential units offer both stable rents and upside for the future.”
3600-3610 Broadway is an assemblage of five-story buildings on the northeast corner of 148th Street and Broadway. The group contains 36 residential units and 11 ground-floor retail units with combined 125 feet of frontage.3621-3629 Broadway is a prime corner six-story elevator building at the northwest corner of 149th Street and Broadway. The building contains46 residential units, eight commercial units and one storage unit with a combined 100 feet of frontage.
The spacious residential unitsallow for investors to increase bedroom counts or reconfigure unit layouts, while the portfolio also offers investors the ability to capitalize on the strengthening retail andresidential rental market in Hamilton Heights. The buildings are locatedwithin walking distance to the City College of New York, Riverbank State Park, the Hamilton Grange, and a range of restaurants, attractions and shopping. Additionally, tenants benefitfrom the property’s proximity to the 1 subway train at 145th Street and Broadway,providing easy access to Midtown and Downtown Manhattan, Columbia University and the 125th Street Corridor.
About Ariel Property Advisors
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the New York metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry. arielpa.nyc
