Investor Purchases 36-Apartment, UWS Resi Building for $29M



Upper West Side property investor Fine Times has purchased a nine-story, rental building at 110 West 69th Street for $28.9 million from a local family of investors.

SEE ALSO: Multifamily Investors Mautner-Glick Buys 70-Unit UES Portfolio for $30M

The 30,159-square-foot, pre-war property between Broadway and Columbus Avenue is comprised of 36 apartments, according to a release from Cushman & Wakefield.  

Of the apartments, 27 are free market, and one is rent-controlled. The others are rent-stabilized. The average rent is $2,834 per month.

Two of the ground-floor units have been renovated and are duplexed with a basement, and both have access to private gardens. And the remaining 34 apartments are one-bedroom units.

C&W’s Paul Smadbeck, Hall Oster, Teddy Galligan, Conrad Martin and Bryan Smadbeck handed the deal for both sides.

“110 West 69th Street is a genuine boutique trophy located in one of the world’s most desirable residential locations,” Smadbeck said in a prepared statement. “With bonafide near-term upside and prospects for long-term appreciation, the offering attracted substantial interest, which resulted in the property trading for a considerable premium.”