Cushman & Wakefield Sells Townhouse on the Upper East Side
A townhouse at 339 East 87th Street, located between First and Second Avenues on Manhattan’s Upper East Side, was sold in an all-cash transaction valued at $3,900,000.
The four-story building contains approximately 3,224 square feet and sits on a 16.11’ x 75.80’ lot. It consists of one unit on the ground floor and a triplex units on floors two through four. The property has development rights remaining, allowing for a significant addition to the existing floor area. The sale price equates to approximately $1,210 per square foot.
The property is located in the heart of Yorkville, a short walk from the 86th Street station of the 4, 5, and 6 trains as well as the Second Avenue subway in the near future.
“Trading at over $1,200 per square foot in need of a gut renovation, this sale exemplifies the current upswing and sustainable future of the Upper East Side market,” said Cushman & Wakefield’s Thomas D. Gammino, Jr., who exclusively handled this transaction.