355 Riverside Drive apartment in the Upper West Side being offered at half its open market value to an Investor who is able to hold the apartment until current tenant vacates or passes to realize its full potential. Tenant has been residing in the apartment prior to conversion and most likely still retains its original charm. Tenant is a married couple in their early 80’s and have been in the apartment for 40 plus years - due to tenant refusal to show the apartment, potential buyer will need to rely on floor plan, there are no pictures available. Recent sale in the building of similar apartment on the 4th floor was sold for over $700,000 in October of last year, discount is being offered to the right buyer who can hold the apartment until it becomes vacant, which can then be sold for its full open market value or rented. This is a SPONSOR unit and no board approval required. Tenant pays $1021 in rent and rent increases every 2 years, maintenance is at $1150 a month which includes taxes - however, since this is not primary residence there is an additional annual tax of $1500. I have not seen the apartment when I purchased it, buyer will not be able to view the apartment. Assume some renovations will be needed, this is a well maintained building with doorman. I offer seller financing Email, call or text for any questions NO BROKERS, unless with a client!!
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
