An 11-story, pre-war apartment building in Washington Heights has been sold for $10.2 million.
Located at 788 Riverside Dr, the 80,678 square feet building houses 62 apartments, mainly comprised of rent-stabilized and rent-controlled units, alongside some free-market units. With average unit sizes of approximately 1,025 square feet, the property features predominantly two- and three-bedroom units and one six-bedroom, three-bath duplex with its own separate entrance. The property had also undergone substantial recent capital improvements.
JLL represented the seller, a longtime family owner of the property, with a team led by Paul Smadbeck and Hall Oster. The buyer was an unnamed local family office.