Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Cushman & Wakefield Retained Exclusively to Sell Elevator Apartment Building on the Upper East Side

02/02/2015

Cushman & Wakefield has been retained on an exclusive basis to sell an elevator apartment building at 334 East 79th Street. The property is located between First and Second Avenues on Manhattan’s Upper East Side. The asking price is $29,000,000.

The eight-story elevator-serviced building contains approximately 29,363 square feet and sits on a 51’ x 102.17’ lot.  Entirely free market, it consists of 46 units of which 4 are studios, 7 are one-bedroom, 31 are two-bedroom, 2 are three-bedroom and 2 are four-bedroom apartments, with one unit being occupied by the super.

The Upper East Side is one of Manhattan’s most dynamic and sought after neighborhoods, offering a variety of world class shopping, dining, and entertainment opportunities all while providing quick and easy access to the rest of the city. Public transportation is easily accessible via the 4, 5, 6 trains at 77th or 86th Streets and Lexington Avenue and the numerous bus lines which service the area. Additionally, the first phase of the Second Avenue subway is scheduled to be completed in December of 2016 and will feature new subway stations located at 72nd, 86th and 96th Streets increasing residential and retail growth in the neighborhood.

"Opportunities to acquire entirely free market buildings in one of New York City’s most established neighborhoods are extremely rare and highly appealing to both local and foreign buyers," said Cushman & Wakefield’s Robert M. Shapiro who is exclusively marketing this property with Thomas D. Gammino, Jr. “This is a unique opportunity to acquire an easily managed asset along the East 79th Street corridor which has been undergoing a renaissance due to new development projects by Skyline Development, Anbau, and The Brodsky Organization as well as the nearly complete Second Avenue subway,” added Gammino.

02/02/2015 - 18:05

Source

Cushman & Wakefield Capital Markets Group New York

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