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    54 71St St New York, NY 10023

    Sponsored
    For Sale
    $5,950,000

    Prime UWS location, renovated 10-unit building. High potential.

    Property size:
    6,667 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 10-unit multifamily building, located at 54 West 71st Street in Manhattan's coveted Upper West Side, presents a compelling investment opportunity. The property boasts 6,667 square feet on a 2,008 square foot lot, zoned R8B. Seven of the apartments are free-market, while three are rent-regulated. A recent 2024 renovation encompassed extensive upgrades to seven free-market units, two of which feature large south-facing terraces. All apartments benefit from ample natural light and high ceilings

    Property Features for 54 71St St

    General Information

    Property type
    Multifamily properties
    Square Feet
    6,667 SF

    Building Details

    Year Renovated
    2024
    Units
    10

    HighLights

    • 10‑unit multifamily building on the Upper West Side, 6,667 sq ft on a 2,008 sq ft R8B lot; seven free‑market, three rent‑regulated units.
    • 2024 renovation of seven free‑market units, including two with south‑facing terraces; all units feature ample natural light and high ceilings.
    • Complete electrical system upgrade, including 400‑amp service and individual 100‑amp service wires for each unit; new panel boxes installed.
    • Comprehensive gas infrastructure update: new gas line, meters, and risers for improved safety and reliability.
    • Plumbing overhaul: replaced front area drain and a section of the cellar's domestic water line.
    • Upgraded fire sprinkler system with replacement of the main line from the street.
    Property Profile Location Intelligence

    Current Use by Public Records

    Little Family Films Video Production Service Pure Vérité Films Film Production Company

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.978546839529
    Latitude
    40.776419090146

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    FAQs

    What type of property is this?
    Multifamily property - Prime UWS location, renovated 10-unit building. High potential.
    Where is this multifamily property located?
    The property is located at 54 71St St New York, NY.
    What is the asking price?
    The asking price for this property is $5,950,000.
    What are key features of this property?
    This property features: 10-unit multifamily building on the Upper West Side, 6,667 sq ft on a 2,008 sq ft R8B lot; seven free-market, three rent-regulated units.; 2024 renovation of seven free-market units, including two with south-facing terraces; all units feature ample natural light and high ceilings.; Complete electrical system upgrade, including 400-amp service and individual 100-amp service wires for each unit; new panel boxes installed.
    Request Owner's contact information
    54 71St St New York, NY 10023
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    New York, NY 10023
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    54 71St St New York, NY 10023
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