September 25, 2020
Ariel Property Advisors has listed 102 W. 107th St., a residential conversion opportunity with an existing parking garage on the Upper West Side. The property, listed for $12 million, consists of an approximately 75-by-101-foot lot with a four-story, 29,700-square-foot building currently operating as a parking garage.
Brokers for the listing include EVP Victor Sozio, president Shimon Shkury, EVP Michael Tortorici and investment sales director Mark Anderson.
The current tenant is operating the garage on a month-to-month basis. The building can also be delivered vacant, presenting a unique opportunity for owner-users and immediate conversion potential for developers. The high-density zoning on the property provides the possibility of residential use.
“This is a rare opportunity for a buyer to acquire an income-generating property with development potential in a prime location near famous parks, world-renowned healthcare, prestigious higher education and historic New York City landmarks,” said Sozio.
For comments, questions or concerns, please contact Paul Bubny