Successful Sale of 190 Claremont Avenue in Morningside Heights, Manhattan
Bob Knakal successfully closed the sale of 190 Claremont Avenue, a classic 15-unit walk-up apartment building located in the heart of Morningside Heights, Northern Manhattan. The property traded hands for $3,900,000. Known for its proximity to institutions like Columbia University and its strong rental demand, the building represented a unique investment opportunity in a stable and historic residential enclave.
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Sale Details
This 15-unit multifamily walk-up building was sold for $3,900,000, equating to $285.09 per square foot across a total of 13,680 square feet. The property was sold by Milton Ottensoser, a private owner, and the transaction was successfully completed on March 15, 2012.
Key Sale Highlights:
- Sale Price: $3,900,000
- Price Per SF: $285.09
- Total Units: 15
- Date Closed: March 15, 2012
- Seller: Milton Ottensoser
Property Details
Situated on Claremont Avenue between West 121st and West 122nd Streets, 190 Claremont Avenue lies at the heart of Morningside Heights, a highly desirable residential submarket within Northern Manhattan. The neighborhood is home to major educational and religious institutions and maintains a quiet, academic atmosphere with strong housing demand.
Full Address: 190 Claremont Avenue, New York, NY 10027
While zoning details were not publicly disclosed, the area is typically zoned for low- to mid-rise residential use. The building’s structure reflects classic pre-war New York architecture and features substantial square footage in a highly walkable neighborhood.
Investment Highlights:
- Building Type: Multifamily Walk-Up
- Total SF: 13,680
- Lot and Block: Block 1993, Lot 104
- Units: 15 Residential Apartments
Market Strategy and Positioning
The sale of 190 Claremont Avenue aligned with growing investor interest in stable, income-producing properties in Northern Manhattan. During a period of continued urban revitalization, Morningside Heights stood out for its low vacancy rates and proximity to key institutions. The property's mid-block location and strong fundamentals helped drive value and demand, making it an attractive acquisition for long-term holders seeking dependable cash flow in an educational and cultural corridor.
Neighborhood Overview
Morningside Heights is a residential neighborhood in Upper Manhattan known for its blend of academic prestige and historic architecture. Bordered by Harlem and the Upper West Side, the area is rich in cultural institutions and offers consistent demand from faculty, students, and long-term renters.
Notable Nearby Attractions:
- Columbia University
- Riverside Church
- St. John the Divine Cathedral
- Morningside Park
Neighborhood Highlights:
- Strong rental demand from academic institutions
- Well-maintained pre-war buildings
- Tree-lined streets and walkable amenities
- Stable long-term tenant base
Conclusion
The sale of 190 Claremont Avenue underscores the appeal of Morningside Heights as a resilient and high-demand submarket for multifamily investment. This transaction reflects Bob Knakal’s deep knowledge of the local market and expertise in securing premium outcomes for owners of well-located walk-up buildings in Manhattan’s most historic neighborhoods.
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Frequently Asked Questions
Q1: How many units are in 190 Claremont Avenue?
The building contains 15 residential apartments.
Q2: What makes Morningside Heights a desirable neighborhood for investment?
Its proximity to Columbia University, consistent rental demand, and historic architecture make it a stable and attractive area for investors.
Q3: What was the price per square foot for this sale?
The property sold for $285.09 per square foot across 13,680 total square feet.
