Listed by BKREA
Unpriced
550-552 West 174th Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 36,720
Units 4
NOI $339,417
Stories 11
Lot Size (SqFt) 10,000
Zoning R7-2
Multifamily | 4 Units
Marketing description
BKREA has been exclusively retained
to arrange the sale of 550-552 West
174th Street ("The Site"), an
exceptional opportunity in the heart of
Washington Heights. The subject
properties are located on the
southwest corner of West 174th Street
and Audubon Avenue and consist of
two tax lots: Lot 15 and Lot 17.
Investment highlights
- Flexible Zoning Opportunity - The favorable R7-2 zoning with a C1-4 commercial overlay allows for residential and local retail development, enabling flexibility in executing a variety of business plans that align with the neighborhood's mixed-use character and growing demand.
- Fully Occupied - 550–552 West 174th Street features 4 retail stores on the avenue and 45 occupied residential units, including 38 rent-stabilized and 7 rent-controlled, providing strong in-place income and long-term value.
- Coveted Location - 550-552 West 174th Street is ideally located in the heart of Washington Heights, allowing developers to benefit from the neighborhood’s strong institutional anchors, growing residential demand, and vibrant cultural character.
- Advantageous Accessibility - The site is just 0.3 miles from the 175th Street station (A line) and under 0.5 miles from the 168th Street station (A and 1 lines), providing express access to Midtown, Downtown, and beyond.
- Institutional Anchors Nearby - Located just minutes from New York-Presbyterian Hospital and Columbia University Medical Center, 550–552 West 174th Street benefits from proximity to two of Upper Manhattan’s largest institutional anchors. These world renowned institutions drive consistent demand for housing and retail, supporting long-term neighborhood stability and economic growth.
- Prime corner location in Washington Heights, Upper Manhattan.
- Situated minutes from New York-Presbyterian Hospital and Columbia University Medical Center, two of the area’s largest institutional anchors.
- Walking distance to local dining, shopping, cultural institutions, and neighborhood parks.
- Total Lot Size: 10,000 square feet (100’ x 100’).
- Zoning: R7-2 with C1-4 commercial overlay (residential + local retail potential).
- Combined Total: 36,720 GSF / 32,661 NSF, 45 residential units + 4 retail stores.
- 550 West 174th Street: 6-story walk-up, ~21,815 GSF, 25 residential units + 4 commercial units.
- 552 West 174th Street: 5-story walk-up with basement, ~14,905 GSF, 20 residential units.
- Fully occupied with in-place income.
- 38 rent-stabilized, 7 rent-controlled.
- Annual residential income: ~$615,890.
- 4 ground-floor retail tenants (pizza, grocery, tax prep, pharmacy).
- Annual commercial income: ~$205,288.
- Washington Heights: a dynamic, culturally rich neighborhood with strong community fabric and institutional anchors.
- Major employers: Columbia University Medical Center, NewYork-Presbyterian Hospital, and Yeshiva University.
- Vibrant cultural and dining scene along Broadway, St. Nicholas Avenue, and Dyckman Street.
- Scenic green spaces: Fort Tryon Park, Highbridge Park, Hudson River views.
- 175th Street Station (A line) – 3-minute walk.
- 168th Street Station (A, C, 1 lines) – under 0.5 miles.
- George Washington Bridge Bus Terminal – 5-minute walk.
- Multiple MTA bus routes nearby (M4, M5, M100).
- Fully occupied multifamily portfolio with stable income and long-term upside.
- Zoning flexibility allows for residential and local retail development.
- Prime location near world-renowned medical and educational institutions.
- Positioned for sustained demand in one of Upper Manhattan’s most resilient and growing neighborhoods.
Listing Contacts
Listed by BKREA
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Annual Cash Flow
$339,417.00
$28,284.75/mo
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