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

Massey Knakal Sells A Townhouse In Sutton Place

09/19/2012

A townhouse at 350 East 51st Street, located between First and Second Avenues in Manhattan’s Sutton Place neighborhood, was sold in an all-cash transaction valued at 2,600,000.

This four-story 20’-wide townhouse consists of seven residential units, of which four are fair market and three are rent stabilized. The basement and first floor consist of a spacious duplex, featuring two bedrooms, and a private south-facing garden. The second floor consists of two rent stabilized studios and the top two floors consist of four one-bedroom apartments, of which three are fair market and one is rent stabilized.

The townhouse totals approximately 5,500 square feet and sits on a 20’ x 100 lot. The sale price equates to approximately $473 per square foot.

The property has recently undergone extensive renovations, including a new roof in 2005, video intercoms in 2007, and a new gas-fired boiler in 1999. Additionally, the façade was updated in the late 1980’s and the deck and walls in the rear garden were improved within the past five years.

“This building was impeccably maintained and well positioned for the buyers to hold as an investment property or potentially use a portion of the building as a personal residence,” said Director of Sales Hall Oster who exclusively represented the seller with Director of Sales Clint Olsen.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.

www.masseyknakal.com

09/19/2012 - 15:48

Source

Cushman & Wakefield Capital Markets Group New York

Want more news about Cushman & Wakefield Capital Markets Group New York? Click here