Upper West Side pre-war elevator building comes to market

NEW YORK, Nov. 5, 2021 — JLL Capital Markets announced today that it has been selected to exclusively market 740 West End Ave., an impeccably maintained, 135,460-square-foot, pre-war elevator building in New York’s Upper West Side that has been owned and operated by the same family for multiple generations.

Constructed in 1915, the 14-story building features ornate architectural details and tremendous light and air due to its 225 feet of wrap-around corner frontage on a pair of double wide streets. The property is currently configured as 101 units, with layouts averaging approximately 1,000 square feet. Ownership has invested heavily in upgrading the property’s major building systems over the past 20 years, leaving virtually no remaining deferred maintenance.

Located on the northeast corner of 96^th Street and West End Avenue, the building stands within easy walking distance of Riverside Park and Central Park and is conveniently located one block from the 96^th Street Subway line at Broadway, offering access to the 1, 2 and 3 subway lines and providing connectivity throughout the city. The property also benefits from recent capital improvements and hands-on management with exceptionally maintained infrastructure.

The JLL Capital Markets team marketing the property on behalf of the seller is led by Chairman of NY Investment Sales Bob Knakal; Managing Directors Hall Oster, Paul Smadbeck and Jonathan Hageman; Vice President Teddy Galligan and Analyst Braedon Gait.

“740 West End Ave. represents an incredible opportunity to own an iconic Upper West Side elevator apartment building with substantial near- and long-term upside,” Knakal said.

“Generous unit sizes, excess potential amenity space and the ability to easily reconfigure layouts will provide prospective purchasers with a variety of repositioning strategies as the city continues its rapid economic recovery,” added Oster.

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 and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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