JLL selected to sell 417 W. 126th St. in New York City
12,420-square-foot property offers flexible zoning in the heart of Manhattanville
NEW YORK, September 22, 2020 — JLL Capital Markets announced today that it has been selected to exclusively market 417 W. 126th St., a three-story, 12,420-square-foot commercial property located between Morningside and Amsterdam avenues in New York City’s rapidly changing Manhattanville neighborhood.
The site is located within an Opportunity Zone and is ideal for both end-users seeking a property that they solely control or developers seeking a site near large neighborhood institutions. The entire building is currently owner occupied and can be delivered vacant. The ground floor features curb cuts on both West 126th and West 127th streets and offers indoor parking for 10-20 cars and trucks, depending on size.
The JLL Capital Markets professionals overseeing the sale include Managing Directors Hall Oster and Paul Smadbeck; Vice Presidents Teddy Galligan and Conrad Martin, and Associate Braedon Gait.
“The property benefits from its location in the heart of both Columbia University’s Manhattanville expansion campus and Janus Property Group’s brand new Manhattanville Factory District redevelopment,” said Oster. “Flexible R7-2 / M1-5 / MX-15 zoning allows for residential, commercial and community facility development ranging from 16,300-26,488 buildable-square-feet depending on use.”
“The property possesses independent entrances with curb cuts on 126th and 127th Streets and can be easily partitioned to meet the owner’s preference,” Galligan added. “The flexibility enables a potential purchaser to retain a portion of the property for their own use while collecting supplemental income from the remaining space.”
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 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.
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 nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.