JLL has been retained on an exclusive basis to arrange for the sale of 237 West 72nd Street, a 23’ wide, 5-story mixed-use building located on the north side of West 72nd Street just west of the corner of Broadway and steps from the 72nd Street subway station.
The property’s ground floor retail benefits from tremendous foot traffic generated by the subway hub which is one of Manhattan’s busiest (14 out of 472 stations). The retail space is currently anchored by Jenny Craig under a corporate-guaranteed long-term lease which expires in July of 2027. The balance of the property consists of a math tutoring school on the entire 2nd floor, and four free-market apartments on floors 3-5. Layouts for the apartments include two 2-bedroom units on the 3rd floor with the rear unit featuring a large private outdoor deck, a 3-bedroom floor-through unit on the fourth floor with a private deck, and an expansive 4-bedroom floor-through on the 5th floor. The apartments have been renovated on a one-off basis over the years which presents the opportunity to increase revenue via cosmetic upgrades to both interior finishes and common areas.
In addition to the excellent subway access (1, 2 and 3 trains), the property is also served by multiple NYC bus routes including a stop directly in front of the building. The entrance ramp to the West Side Highway is just one block to the west.
Located on one of the Upper West Side’s main wide-street retail corridors, 237 West 72nd Street represents a unique opportunity to acquire a centrally-located mixed-use asset with zero exposure to Rent Regulation or deferred maintenance and favorable Tax Class 2A status in one of the most vibrant New York City Neighborhoods.
100% Free Market