Description

Cash Buyers Only – 5-Unit Limestone with Vacancies & Upside Ideal for an end-user seeking a home with income or an investor looking for long-term upside. 311 West 78th Street is an 18-foot-wide Renaissance Revival limestone with approx. 5,000 SF across five stories, located just off Riverside Park between West End Avenue and Riverside Drive. The property is configured as five residential units: three stabilized (Owner’s Duplex, 4th Floor front studio, and 5th Floor studio) and two free market (3rd Floor one-bedroom and 4th Floor rear studio). The Owner’s Duplex and the 4th Floor front studio will be delivered vacant. The 3rd Floor one-bedroom is free market and rented at $6,000/month. The 5th Floor stabilized studio remains occupied. Owner’s Duplex (Garden & Parlor): Skylit kitchen/dining, 31’ x 19’ garden, 11’ ceilings, original plaster details, and working fireplaces. Delivered vacant. 3rd Floor (Unit 2 – Free Market): One-bedroom with 10’ ceilings, laundry, and working fireplace. Rented at $6,000/month. 4th Floor: Rear studio (free market, terrace, exposed brick, washer/dryer). Front studio (stabilized). Front delivered vacant. 5th Floor (Unit 5 – Stabilized): Studio with rent near market. Additional features include a full cellar with 7’8” ceilings, updated mechanicals (new boiler, sprinkler, hot water heaters, thermostats), and long-term ownership. Please Note: This property does not qualify for residential financing. Commercial loans for this asset type are generally unavailable. Cash-only purchase. Listing courtesy of Compass ...
More >