119 W 81st Street, New York City, NY 10024

Description

119 West 81st Street - Upper West Side Townhouse Investment Opportunity

A rare opportunity to acquire a beautifully maintained, 10-unit circa-1885 townhouse on a coveted tree-lined block in the heart of the Upper West Side. This classic brownstone can be delivered approximately 40% vacant and spans 5 finished floors plus an unfinished basement, offering exceptional flexibility for both end-users and investors.

Located just moments from American Museum of Natural History and Central Park, and within the sought-after Upper West Side/Central Park West Historic District, the property enjoys picturesque views of surrounding historic townhouses and an unbeatable neighborhood setting.

Measuring 17' x 68' on a generous 102' lot, the building encompasses approximately 5,000 interior square feet plus an additional 685 square feet of exterior space. The current configuration includes 3 one-bedroom apartments and 6 studios, with a flexible layout that allows for reconfiguration-including the potential to combine the fourth-floor units. The 900 Square Foot owner's garden-level residence is a spacious floor through unit created by combining two apartments.

Held by the same family for nearly 50 years, the property features a mix of free-market and rent-stabilized units, making it ideal for a live-plus-income buyer or a strategic long-term investment.

Key Features: Elegant entry lobby and well-maintained common areas, exposed brick walls, hardwood floors, multiple decorative fireplaces, Ceiling heights ranging from 7'10" to 11'4", Sprinkler system in place, Expansive private garden with decked terrace, plus an additional fourth-floor terrace & approximately 1,970 square feet of unused air rights. The building falls under Tax Class 2B

While the apartments have not been recently renovated, this presents a significant value-add opportunity for the next owner to modernize and maximize income potential.

Perfectly positioned near the best of the Upper West Side, including dining, shopping, and cultural institutions along Columbus and Amsterdam Avenues, the property is also conveniently located near the B/C trains at 81st Street and Central Park West, as well as the 1 train at 79th Street and Broadway, not to mention the Crosstown Bus at 81st & Columbus.

A true Old World gem with tremendous upside in one of Manhattan's most desirable neighborhoods."