$4M for Upper West Side Apartments at 944 Columbus Ave

Comprehensive Practice Management LLC paid $4.2 million for a five-story, mixed-use building at 944 Columbus Ave. in the Manhattan Valley neighborhood of Manhattan’s Upper West Side. The building includes nine apartments and two commercial units.

“The property presented a tremendous opportunity for an investor to acquire a cash-flowing, mixed-used building with long-term upside,” said Guthrie Garvin of Cushman & Wakefield, who with Hall Oster represented the seller in the transaction.

Of the nine residential units, one is vacant, one is rent-controlled and seven are rent stabilized. The retail component consists of a beauty salon and a small restaurant, both with leases well-below surrounding market rates and scheduled to expire during the summer of 2018.

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