Manhattan Condo Investment | 5.5% Gross Yield | Near Columbia University

Posted by Wei Min Tan on October 29, 2026

Manhattan Luxury Condo Investment | $14,500 Monthly Rental Income Through August 2028

Prime Upper West Side Location | Convenient to Columbia University

For international buyers seeking to diversify their wealth into U.S. dollar-denominated assets, Manhattan real estate offers an attractive combination of long-term wealth preservation, rental income, and future flexibility for family use.

Residence 10C at 212 West 72nd Street presents an opportunity to acquire a luxury three-bedroom condominium in Manhattan’s prestigious Upper West Side neighborhood, with an existing tenant paying $14,500 per month under a lease running through August 2028.

The property offers immediate rental income without the need to secure a new tenant, making it particularly appealing to overseas investors looking for an income-producing Manhattan asset.

Read about Wei Min’s style in Best Manhattan property agents and Role of a buyer’s broker.

Immediate Rental Income Through August 2028

With an existing lease in place, investors benefit from an established U.S. dollar rental income stream.

Investment Highlights

Asking Price: $3,145,000

Monthly Rental Income: $14,500

Annual Rental Income: $174,000

Gross Rental Yield: Approximately 5.5%

Lease Expiration: August 2028

Residence: Three bedrooms, two bathrooms

Interior Space: Approximately 1,425 square feet

The existing tenancy provides visibility into rental income through August 2028, subject to the tenant fulfilling the lease obligations.

For international investors, this eliminates the initial uncertainty of marketing a vacant property and finding a qualified tenant.

Wei Min’s article, New York Property Market Outlook

Photos:  212 W 72 St #10C, New York, NY

Prime Upper West Side Location — Convenient to Columbia University

Located at Broadway and West 72nd Street, the condominium enjoys a prime position in one of Manhattan’s most desirable and established residential neighborhoods.

The building is conveniently connected to Columbia University via the 1 subway line, making it attractive to families considering future educational opportunities for their children in New York.

The Upper West Side is particularly appealing because of its residential atmosphere, cultural institutions, parks, and convenient transportation.

Nearby destinations include:

Central Park and Riverside Park: Beautiful green spaces for recreation and outdoor activities.

Lincoln Center: One of New York’s premier destinations for performing arts and culture.

72nd Street Subway Station: Convenient access to Midtown, Downtown, and Columbia University.

Restaurants and Shopping: A wide selection of neighborhood cafés, restaurants, supermarkets, and boutiques.

The combination of an established residential neighborhood and access to Manhattan’s leading educational and cultural institutions supports the property’s long-term appeal.

Contemporary Luxury Living at 212 West 72nd Street

Residence 10C features a thoughtfully designed three-bedroom layout with approximately 1,425 square feet of living space.

The apartment offers floor-to-ceiling windows, high ceilings, white oak flooring, and north and south exposures.

The modern kitchen features premium Miele appliances, quartzite countertops, and contemporary cabinetry.

Residents enjoy full-service condominium amenities, including a doorman and concierge, fitness center, children’s playroom, residents’ lounge, and landscaped rooftop terrace.

These features enhance the property’s appeal both as a luxury rental investment and as a potential future family residence.

Wei Min’s article, Manhattan New Development and Luxury Market Update

Rental Income Today, Family Flexibility Tomorrow

For many global families, Manhattan property ownership serves multiple purposes beyond financial returns.

It offers an opportunity to diversify wealth into U.S. dollar assets, participate in one of the world’s most established real estate markets, and create options for the next generation.

With the existing lease running through August 2028, an investor can collect rental income during the remaining lease term while planning for the property’s future.

After the lease expires, the residence may potentially be retained as an investment, used by family members, or made available for children attending university in New York, subject to applicable tenancy laws and occupancy requirements.

This flexibility is especially relevant for families considering a long-term connection to New York.

A Manhattan Investment Worth Considering

212 West 72nd Street, Residence 10C combines several attributes that international investors often prioritize:

• Immediate U.S. dollar rental income under an existing lease.
• Approximately 5.5% gross rental yield at the asking price.
• Prime Upper West Side location with convenient access to Columbia University.
• Three-bedroom layout suitable for future family use.
• Ownership in a full-service Manhattan luxury condominium.

For investors seeking an income-producing New York property with the potential for long-term family utility, Residence 10C offers a compelling opportunity.

Contact us to learn more about this Manhattan condominium investment.

Weimin Tan, tan@castle-avenue.com, +1.212.380.6134

Dawn Lei, dawnlei@wernewyork.com, +1.929.488.7975

Gross rental yield is calculated before common charges, property taxes, insurance, financing, and other ownership expenses.  Rental payments remain subject to tenant performance.  Future occupancy and rental arrangements are subject to applicable laws and lease terms.

What We Do

We focus on global investors buying Manhattan condos for portfolio diversification and long term return-on-investment.
1) Identify the right buy based on objectives
2) Manage the buy process
3) Rent out the property
4) Manage tenants
5) Market the property at the eventual sale