A pre-war apartment building in Washington Heights has recently been sold for $10.2 million. The 11-story building, located at 788 Riverside Dr, spans over 80,000 square feet and includes a total of 62 apartments. These units consist primarily of rent-stabilized and rent-controlled options with some free-market units available as well.
The average size of the apartments is around 1,025 square feet with a mix of two- and three-bedroom layouts. Additionally, there is one unique six-bedroom duplex that features its own separate entrance and three bathrooms. The property has also received significant capital improvements in recent years.
JLL represented the seller – a long-standing family owner – through their team led by Paul Smadbeck and Hall Oster. On the other side was an undisclosed local family office who purchased the property.
This transaction marks another successful deal in Washington Heights’ real estate market as demand for quality residential properties continues to grow in this area.
