$3.8M for Rent Stabilized Townhouse

An undisclosed buyer paid $3.8 million for a townhouse on the Upper West Side of Manhattan. The ornate townhouse is divided into just six apartments. That works out to a price of well over a-half-million-dollars per apartment, or $922 per square foot.

“Built in 1892, the property’s unique Renaissance Revival architecture, in addition to its sought-after Riverdale Park location, at 331 W 87th Street, attracted great interest from both private and professional investors”, said Stephen Palmese, vice chairman for Cushman & Wakefield.

Four of the units in the five-story, 4,109-square-foot property are rent-stabilized, one is rent-controlled, and the sixth is market-rate.

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