701 W 135th St, New York, NY 10031

701 West 135th Street represents a unique investment opportunity to own approximately 18,200 rentable square feet just one block north of Columbia Universityâ??s Manhattanville expansion. Stretching from West 135th Street to West 138th Street along 12th Avenue, this three unit, 2 and 3 story building is fully occupied by destination retail tenants including two nightclubs/bars and one restaurant. All tenants are individually metered and pay for heat, electric, and water, and two tenants contribute to a portion of the ownershipâ??s real estate taxes. Ownership also benefits from an ICIP Tax Exemption valued at $457,200 (off of the assessed value), which is in year 5 of 25. Scheduled to be completed in 2030, Columbiaâ??s Manhattanville expansion will cover 17-acres accounting for over 6.8 million square feet of space for teaching, parking, academic research, retail, and community facilities. Consequently, the project is sure to improve the local economy and neighborhood, create thousands of new jobs and reconnect West Harlem to the new Hudson River waterfront park. Public transportation is easily accessible via the 1 train stop at West 125th or West 137th Streets and the MTA bus lines that run along Broadway and 125th Street. All leases have termination clauses with one yearâ??s notice. *The buildingâ??s roof contains two large billboards facing the Henry Hudson Parkway. The signs are subject to an easement and not included in this offering. Overview Building Type: Commercial Buildings Location: The subject property spans the entire blockfront of 12th Avenue between West 135th and 138th Streets Block/Lot: 2101/58 Lot Sq Ft: 11,873 Stories: 2 and 3 Commercial Units: 3 Zoning: M1-1 FAR: 1.0 Total Taxes: $11,604 Building Sq Ft: 18,200 (rentable)