946 ST NICHOLAS Avenue #NA

The Corcoran Group is pleased to announce our newest commercial exclusive in Washington Heights at 946 St Nicholas Avenue. 946 St Nicholas is an 18+' wide single family townhouse residing between 157th & 158th Street on St Nicholas Avenue in the historic Washington Heights neighborhood of Manhattan. The building is one of 6 historic limestone constructed residences on the block dating from the late 1800's. Although not presently land marked, the elegance and beauty of the home and block is extraordinarily rare. The building consists of a garden level and 3 upper floors plus a full basement and cellar. There is a small courtyard in the rear of the building as well. The building was formerly an 8 room SRO with a Class A apartment in the basement. The present owner has initiated paperwork with the city to convert the home to a 5 unit residential apartment house, but the plans have not been approved yet. The desirability of restoring the home back to a single family residence however may ultimately be the easiest and most profitable route for an investor. Should the purchaser opt to continue the multifamily conversion, the property is well positioned in the active Washington Heights rental market, which has seen a record breaking 37% increase in rents from 2010-2018 according to a report commissioned by Streeteasy.