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BKREA has announced the $28 million sale of 500 Columbus Avenue, a prominent mixed-use redevelopment opportunity located at the northwest corner of Columbus Avenue and West 84th Street on Manhattan’s Upper West Side. The transaction closed on July 31, 2026, with BKREA exclusively representing the seller throughout the marketing and sale process.
The five-story property contains approximately 35,258 square feet and sits on a 10,217-square-foot lot with approximately 102 feet of frontage along Columbus Avenue and 100 feet along West 84th Street. Located just steps from Central Park, the property combines a long-standing retail component with vacant residential space, creating significant potential for repositioning and long-term value creation.
BKREA arranged the sale of 500 Columbus Avenue for $28 million, demonstrating continued investor demand for well-located mixed-use assets with redevelopment potential.
The property occupies a highly visible corner at Columbus Avenue and West 84th Street, just one block from Central Park and surrounded by leading schools, cultural institutions, restaurants, and neighborhood amenities.
The five-story building contains approximately 35,258 square feet on a 10,217-square-foot lot, offering a substantial footprint in one of Manhattan’s most desirable residential neighborhoods.
The property's residential floors are delivered vacant, providing an opportunity to reposition the upper levels into luxury condominiums or high-end rental apartments while maintaining the existing retail component.
The property’s ground-floor retail component, including its long-standing Gristedes supermarket tenancy, provides income while offering an investor the potential to pursue longer-term redevelopment and value-add strategies.
The combination of vacant residential space, existing retail income, a prominent corner location, and proximity to Central Park generated strong investor interest throughout the marketing process.
Bob Knakal, Jake Hulsh, Ryan Candel, and Nick Tuleu exclusively represented the seller, leveraging BKREA’s investment sales expertise and targeted marketing strategy to successfully execute the transaction.
500 Columbus Avenue presented a rare combination of location, existing income, and redevelopment potential. The property's vacant residential floors created an opportunity to unlock additional value while the ground-floor retail component provided ongoing income. Its Upper West Side location, prominent corner presence, and proximity to Central Park further strengthened its appeal to investors and developers.
According to Jake Hulsh:
“The combination of vacant residential space, stable retail income, and an irreplaceable Upper West Side corner created a compelling value-add opportunity for investors.”
500 Columbus Avenue sold for $28 million, with the transaction closing on July 31, 2026.
The property is located at the northwest corner of Columbus Avenue and West 84th Street on Manhattan’s Upper West Side, just one block from Central Park.
The property's vacant residential floors provide an opportunity for conversion or repositioning, while its existing retail component provides income and its prominent location supports long-term value creation.
BKREA exclusively represented the seller, with Bob Knakal, Jake Hulsh, Ryan Candel, and Nick Tuleu working on the transaction.
BKREA is a New York City commercial real estate brokerage specializing in seller representation for investment sales and development sites, combining market intelligence, property research, valuation expertise, and targeted marketing strategies.
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