20 W 64th St, Apt 28de, New York, NY

PROJECT DESCRIPTION: JEL Development purchased two, 2-bedroom adjoining condominium units from an estate and legally combined them. The two units were converted into one 3,900 sqft, 4 bedroom, 4.5 baths unit. Apartment 28DE is characterized by expansive views of Central Park West and the Opera House of Lincoln Center. The apartment was fully renovated to the most modern luxury standards available to the market at the time. 

After a seasoned holding period, in which the unit was leased, JEL eventually sold the property for a significant gain.

DEVELOPER: JEL Development

COMPLETION YEAR: 2003

STATUS: Completed & sold

PROJECT METRICS:

• ROI: 22%
• Cap rate: 4%

INVESTMENT OPPORTUNITY?: Contact us for more information.