Mixed-use property on Upper West Side of Manhattan seeks $7.45M
JLL Capital Markets is marketing the five-story mixed-use building at 237 W. 72nd St.
NEW YORK, June 28, 2021 — JLL Capital Markets is exclusively marketing a 23-foot-wide, five-story mixed-use property for sale, located at 237 W. 72nd St. on the Upper West Side of New York City for $7.45 million.
The property is approximately 8,440 gross square feet, located on a 102-foot lot and lies within a C4-6A zoning district. The building’s ground-floor retail space is currently anchored by Jenny Craig under a long-term lease. The balance of the property consists of an office tenant on the entire second floor and four free-market apartments on floors three through five. Layouts for the apartments include two two-bedroom units on the third floor with the rear unit featuring a large private outdoor deck; a three-bedroom floor-through unit on the fourth floor with a private deck and an expansive four-bedroom floor-through on the fifth floor.
Located on the north side of West 72nd Street between Broadway and West End Avenue, the property is steps away from the 72nd St. subway station, providing direct access to the 1, 2 and 3 subway trains. The property’s ground-floor retail benefits from the extraordinary foot traffic generated by the subway hub, which is one of the busiest stations in the subway system.
The JLL Capital Markets team marketing the property for the seller is led by Managing Directors Paul Smadbeck and Hall Oster; Vice Presidents Conrad Martin and Teddy Galligan, and Associate Braedon Gait. Director Stephen Van Leer is leading the financing.
“This property represents a unique opportunity to acquire a centrally-located, well-maintained, mixed-use asset with zero exposure to rent regulation in one of New York City’s most vibrant neighborhoods,” Smadbeck said.
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 $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.