The Tri-State Investment Sales Group for Avison Young is marketing the sale of a five-story, 16-unit, 12,740-square-foot apartment building at 565 W. 173rd St. in Northern Manhattan’s Washington Heights neighborhood. The firm’s Sam Schertz, Frederick Richter and Allan Fries have been engaged by ownership to market the asset with an asking price of $4,500,000.
The renovated 565 W. 173rd includes seven free-market units, seven rent-stabilized and two rent-controlled units. It’s situated on the north side of West 173rd Street, between St. Nicholas and Audubon avenues.
“The 565 W. 173rd St. building is a unique opportunity for an investor to acquire an excellent multifamily property requiring no major upgrades, within the popular Washington Heights neighborhood,” said Schertz. “With the ever-growing demands for residential options in this area, we’re expecting strong interest in the property from a wide variety of investors.”
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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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