Reuveni in Real Time
listing
Reuveni Real Estate, as the exclusive sales agent, is pleased to bring to market 23-25 West 106th Street, located in the Manhattan Valley neighborhood of Manhattan’s Upper West Side for an asking price of $12,500,000.
23-25 West 106th St, located on the northwest corner of 106th street (Duke Ellington Boulevard) and Manhattan Avenue, consists of two five-story buildings that have been combined into one complex with contiguous floor plates, totaling approximately 24,570 SF. There are additional unused air rights totaling approximately 8,847 SF. The property has been owned and occupied by a non-profit institution for over 30 years and is currently configured as a mix of classrooms, dormitories, administrative offices, and recreational space. The building(s) are classified as Tax Class 4, Building Class(es) N2/N9.Interior features include double height ceilings in a portion of the basement with windowed above ground frontage on Manhattan Avenue, a fully operating vented kitchen in basement, a passenger elevator accessing all floors from basement to roof, and a flat roof with open view and exposures in all directions. The site is located just north of the venerable Manhattan Avenue Historic District, and benefits from its scale and charm without being subjected to its building restrictions and landmark approval process.
23-25 West 106th St presents several opportunities for residential redevelopment or adaptive reuse by an institution / non-profit. This offering presents investors with the opportunity to acquire a prominent corner site of notable scale within an established and thriving residential neighborhood that is expected to grow in population and desirability in accordance with major developments on the West Side of Manhattan.
23-25 West 106th St benefits from immediate adjacency to Central Park with a park entrance at the end of the street. Morningside and Riverside Park(s) are also in close proximity. The property is within walking distance of some of the most prominent institutions and cultural destinations in New York, including Columbia University, the Icahn School of Medicine at Mount Sinai, and the Cathedral of St. John the Divine. There are a wide variety of retail and dining options within the area, including the Columbus Square retail village. The neighborhood is served by several subway lines including the B/C at Cathedral Parkway – 110th St (0.14 mi) and the 1 at 103 St (0.4 mi).
