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

Massey Knakal Retained Exclusively To Sell Multifamily Brownstone In Midtown East

05/30/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell a brownstone at 352 East 50th Street. The property is located between First and Second Avenues in Manhattan’s Midtown East neighborhood. The asking price is $4,400,000.

The building contains approximately 4,350 square feet and sits on an 18.75’ x 100.42’ lot.  It is currently configured as three residential units. The first three floors have the potential to be delivered vacant.  The lower level unit is a three-bedroom duplex with access to a 650 square foot rear garden.  The parlor level benefits from ceilings approximately 11 feet high and access to an approximately 240 square foot rear deck.  The third story contains a floor-through one-bedroom apartment.  The top floors are configured as a three-bedroom duplex with a washer and dryer, vaulted ceilings approximately 17 feet high, and access to a roof deck.  Each unit is individually metered for electric service, and the gas burner and hot water heater were replaced less than a year ago.

Conveniently located in the Midtown East submarket and steps from United Nations Plaza, this townhouse represents an excellent opportunity for a live-plus-income, single-family conversion, or investment property.

"The property is a renovated rental that is a perfect candidate for a live/invest or single-family conversion.  The proximity to Midtown and the UN will attract investors and users who value the convenience of the location," said Clint Olsen, who is exclusively marketing this property with Brock Emmetsberger.  Both can be reached at 212.696.2500.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

05/30/2013 - 08:36

Source

Cushman & Wakefield Capital Markets Group New York

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