GRADUATE STUDENT HOUSING
527 West 113th Street NYC
With a scheduled closing date of September 2023, 527 West 113th Street is the opportunity to acquire a multifamily building on the best block for Columbia students: the first block of residential buildings before Columbia's main campus. Of the thirteen parcels on the block, Columbia University already owns ten. 527 West 113th Street is one of only three privately owned buildings on the street.
This five-story walkup consists of eight free market apartments. It has been owned by a family - mom and pop landlords - for the past 40 years. With some deferred maintenance, the building is in good condition structurally with opportunity for value add. The projected returns are in the mid-teens.
See proforma and memorandum for detailed financial analysis.
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