4740 Broadway is a 6 story mixed â?? use apartment building located on the vibrant northeast corner of Broadway and Thayer Street in the Washington Heights section of Manhattan. The building is in pristine condition and has been meticulously maintained by long term ownership for over 30 years. The property benefits from and is anchored by its outstanding location. It receives extraordinary commuter foot traffic from the 5 surrounding Dyckman Street A express train entrances (one of which empties out directly in front of 4740 Broadwayâ??s northern most retail space) and the MTA commuter bus stop across the street. New Yorkers from all over the city are drawn close by to the bustling and resurgent retail corridor of Dyckman Street which offers its patrons a variety shopping opportunities and new hip restaurants such as the Mamajuana Café. Fort Tyron Park, home of the Cloisters Museum, is located directly across the street and provides tenants with numerous outdoor amenities such as playgrounds, tennis courts, ball fields, hiking trails and a waterfront promenade. The combined 68 residential units, many of which enjoy sweeping park views, feature spacious pre-war layouts and are comprised of 31 one-bedrooms, 27 two-bedrooms, and 10 three-bedrooms. The entire building is rent regulated and consists of 61 rent stabilized units, 5 rent controlled units, and 1 superâ??s unit (there is currently 1 vacancy). The residential units offer tremendous upside with one-bedrooms averaging $976, two-bedrooms averaging $886, and three bedrooms averaging $1,095 per month in a market that easily yields rents of $1,400, $1,800, and $2,200 per month respectively (44%, 103%, and 101% upside). Ownership has recently made significant upgrades and performed substantial maintenance throughout the property including but not limited to new security cameras, a newly poured court yard, pointing / façade work, along with major upkeep on the roof and parapet walls. Overview Building Type: Apartment Buildings Block/Lot: 2175/45 Lot Dimensions: 101.25' x 150' Lot Sq Ft: 14,988 Stories: 6 Residential Units: 68 Commercial Units: 6 Zoning: R7-2 FAR: 4.00 (wide street) Assessment Value: $1,035,000 Taxes: $139,032 Building Sq Ft: 60,123 (approx.) Building Dimensions: 99' x 145' (approx.)
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
