Endeavor Guidance completes $11.4M sale of 57 West 86th St.
JLL Capital Markets arranges sale of the four-story residential and retail building
NEW YORK, December 16, 2020 — JLL Capital Markets announced today that it has completed the $11.4 million sale of 57 West 86th St., a 13,290-square-foot building located on New York City’s Upper West Side.
JLL worked on behalf of Endeavor Guidance to complete the sale to Michael Herzog, LLC .
The four-story property includes a 6,300-square-foot retail space on the ground floor, currently occupied by Investment Banking Company and 12 rental residential units. The property features two studios, nine one-bedroom units, and one two-bedroom unit. Four of the apartments enjoy attractive outdoor spaces.
The building is ideally located on the north side of West 86th St. between Central Park West and Columbus Ave., less than a block from Central Park. The 86th St. subway station (B, C) is less than a block away. Nearby Columbus and Amsterdam Ave. offer some of New York City’s most dynamic bars, restaurants and shopping options.
The JLL Capital Markets team representing the seller was led by Managing Directors Paul Smadbeck and Hall Oster, and Associates Teddy Galligan, Conrad Martin, Tim O’Brien and Braedon Gait.
“57 West 86th St., with its superior Upper West Side location, is a solid income-producing asset with great credit in as the prime retail tenant,” said Smadbeck. “As such, the offering attracted a tremendous amount of attention from investors across a wide spectrum.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.