Description

323 West 89th Street is a Renaissance Revival-style townhouse designed by renowned architect C.P.H. Gilbert and constructed in 1893. With a 5.3% cap rate at the asking price & ideally positioned on a picturesque Riverside Park block in the Upper West Side, this stately, 22-foot-wide property presents a rare opportunity to acquire a turnkey, income-producing multi-family townhouse in one of Manhattan’s most desirable neighborhoods. Spanning five stories plus basement, the building is currently configured as 10 Free Market apartments, all of which have been recently renovated. The layout includes a mix of studio, one-bedroom, and two-bedroom apartments, with select units featuring private terraces or garden access. High ceilings, wood-burning fireplaces, penthouse additions, and laundry in basement further elevate the offering. Each apartment is individually metered for electric, with updated infrastructure including a converted gas boiler, in-building sprinkler system, and tenant-paid cooking gas. Whether held for steady income, converted into a luxurious owner’s residence, or adapted for a live-with-income scenario, 323 West 89th Street stands out for its prime location within the Riverside – West End Avenue Historic District. Surrounded by landmarked townhouses, tree-lined streets, and steps from Riverside Park, this home offers unmatched access to green space, transportation, and the vibrant cultural institutions of the Upper West Side. The property will be delivered on an as-is, where-is basis. Listing courtesy of Leslie J Garfield & Co Inc ...
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