Citibank Upper West Side — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: New York, NY 10023

Photos

Citibank Upper West Side — Sale in New York, NY, photo 1 of 2
Citibank Upper West Side — Sale in New York, NY, photo 2 of 2

Investment Figures

Cap rate
4.63%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present 170 West 72nd Street is a single-tenant Citibank in the heart of the Upper West Side retail corridor, offered at $20,000,000 with a 4.63% cap rate on $925,000 of net income. The asset is fully passive. The lease runs triple net through July 2037 with two five year renewal options extending the term to 2047, and the tenant carries taxes, insurance, utilities, and all repairs and replacements, interior and exterior, structural and non structural. There are no landlord obligations. The tenant is Citibank, N.A., the primary U.S. banking subsidiary of Citigroup Inc. (NYSE: C), carrying senior credit in the single A category. Citibank executed a ten year extension in February 2026 with no early termination right. The branch holds $619 million in on site deposits, the highest of any Citibank in the 10023 zip code at 61% of the three branch base and nearly double the next closest location. The 14,638 square foot building sits on a 4,768 square foot lot zoned C4-6A, one minute from the 72nd Street 1/2/3 station, with 174,322 residents and 117,941 daytime employees within a one mile radius. Neighboring retail includes Trader Joe's, Bank of America, Bloomingdale's, Chase, and Sephora. The property carries 33,042 square feet of unused development rights. Please contact the listings agents for more information or tours. Investment Highlights: • Absolute triple net lease with zero landlord responsibilities • Highest deposit Citibank in the 10023 zip code at $619 million on site • One minute walk to the 72nd Street 1/2/3 • Term secured through July 2037 with two five year options to 2047 • Investment grade tenant, Citibank, N.A., single A senior credit

Market Context

This retail in New York, NY is listed for sale. It is offered at an approximate 4.6% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in New York, NY — view the full market.

Estimated Price per SF

$486.60/SF – $3,539/SF

Mid: $1,475/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

Contact

  • Michael Kook

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