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

Cushman & Wakefield Sells Townhouse on the Upper East Side

06/04/2015

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. 

06/04/2015 - 16:45

Source

Cushman & Wakefield Capital Markets Group New York

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