250 West 91st Street

Avison Young has been engaged by ownership as exclusive agent to sell 250 West 91st Street (the “Property”), a mixed-use corner elevator building in the heart of Manhattan’s Upper West Side. Featuring 159 feet of wraparound frontage on the southwest corner of West 91st Street & Broadway (101 feet on Broadway), the six-story building encompasses 30,833± total square feet across fourteen (14) residential apartments and three (3) commercial spaces. The Property has been under the same ownership for 46 years. Of the fourteen (14) residential units, seven (7) are free-market, five (5) are rent-stabilized, and two (2) are rent-controlled. The free-market units are comprised of four (4) one-bedroom, two (2) two-bedroom, and one (1) five-bedroom apartment. Significant untapped potential can still be captured effortlessly by maximizing floorplans, unit combinations, and implementing cosmetic upgrades throughout the units and common areas, including the expansive lobby. The commercial component of the Property is anchored by Barzini’s Market, which occupies approximately 85 feet of frontage along Broadway. The smallest commercial space is occupied by Gaby’s Barber Shop, and the larger corner space is currently vacant. Given Broadway’s status as one of Manhattan’s strongest commercial corridors, a new owner should be able to effortlessly lease up the corner storefront. Additionally, the corner location and C4-6A zoning presents future development potential, with a residential FAR of 10X and max ZFA of 58,000 SF (27,167 SF of unused floor area). By purchasing 2X FAR in offsite inclusionary housing certificates (“OSIH”), the max ZFA increases to 70,000 SF. Alternatively, a buyer can add one or two stories above the existing structure as a penthouse addition. Furthermore, the adjacent property to the west possesses 22,000 SF of unused air rights (plus 8,460 of OSIH), offering additional development potential. The property is located outside of the Riverside-West End historic district, allowing a new owner to explore as-of-right development options without LPC approval. Located on the Upper West Side, the Property is within walking distance of all the amenities the neighborhood has to offer. The Property is a short walk from Central Park and Riverside Park, with excellent transportation options (1/2/3/ trains on 86th & 96th Streets), as well as great restaurants and nightlife that make this location so consistently attractive to so many tenants. 250 West 91st Street offers investors the opportunity to acquire an irreplaceable corner building with significant value-add potential in the heart of the Upper West Side.