164 E 61st Street, New York, NY 10065

Midtown East, New York, New York 10065

$10,495,000  

Listing ID Number

25646

Property Description

Cushman & Wakefield has been exclusively hired to sell 164 East 61st Street, a five-story, mixed-use property comprised of 4 full floor apartments and a commercial space on the ground floor. The building underwent a full renovation in recent years which transformed the property to an ultra-high end rental building. Each unit was designed, renovated, and decorated with thought and luxurious materials, creating the ideal live/work or live/invest opportunity. Each unit boast high ceilings, oversized windows and personal washers and dryers. In addition, some have skylights, outdoor space, and bay windows. They were renovated in 2013 with high-end details and are being rented at $96/sf. With the ability to vacate the residential portion within a year, this is an ideal opportunity to convert the property to a luxury user building in a block where they trade for as much as $2,500/SF.
The high end renovations and vacant commercial space present the ideal live/work, live/invest or conversion opportunity in one NYC’s most sought after neighborhoods.

Overview

Building Type:Mixed-Use Investment Buildings, Mixed-Use User Buildings
Stories:5
Units:5
Zoning:R8B
FAR:4

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

William Conrad
Director
(212) 660 7740
William.Conrad@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.