EAST 75TH STREET NEW YORK CITY 15 SINGLE FAMILY CONVERSION OPPORTUNITY 17 Wide Historic Townhouse
Confidentiality THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your own limited use in considering whether to pursue negotiations to acquire an interest in 15 East 75th Street, New York, New York ( The Property ). This Confidential Memorandum contains brief, selected information pertaining to the business and affairs of the Owner, and has been prepared by Massey Knakal Realty Services ( Massey Knakal ) primarily from information supplied by the Owner. Although this Confidential Memorandum has been reviewed by representatives of the Owner, it does not purport to be all inclusive or to contain all of the information which a prospective purchaser may desire. Neither Massey Knakal, nor any of their officers, employees or agents make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Confidential memorandum or any of its contents, and no legal liability is assumed or to be implied with respect thereto. By acknowledgment of your receipt of the Confidential Memorandum, you agree that the memorandum and its contents are confidential, that you will hold and treat it in the strictest of confidence, that you will not directly or indirectly, disclose or permit anyone else to disclose this memorandum or its contents to any person, firm or entity without prior written authorization of Owner, and that you will not use, or permit to be used, this memorandum or its contents in any fashion or manner detrimental to the interest of Owner. Photocopying or other duplication is strictly prohibited. Owner and Massey Knakal expressly reserve the right, at their sole discretion, to reject any or all proposals or expressions or interest in the building, and to terminate discussions with any party at any time with or without notice. If you do not wish to pursue negotiations leading to this acquisition, kindly return this confidential memorandum to Massey Knakal. This Confidential Memorandum shall not be deemed a representation of the state of affairs to the property or constitute an indication that there has been no change in the business of affairs or the property since the date of preparation of this memorandum.
FIFTH AVE SIXTH AVE The Massey Knakal Advantage Best Inventory On average, Massey Knakal exclusively lists 600+ properties at any given time the largest inventory of properties in the New York City metropolitan area. 96 TH ST Best Territory Knowledge The Massey Knakal Territory System assigns only one sales agent to represent property in a given area, making these agents superior real estate experts for their territory. The benefit to you is that our agents can assist you with making a more profitable buying decision. You can be confident that a purchase made through Massey Knakal will be the right decision for your needs. 59 TH ST 80 TH ST 42 ND ST CENTRAL PARK WEST 76 TH ST 63 RD ST Best Opportunity Massey Knakal treats all buyers fairly, which means that you will always have an equal opportunity to purchase a property. Since Massey Knakal only handles exclusive listings, you will be able to get accurate property information and up-to-the-minute status reports on the availability of all our properties. The benefit to you is that you will not waste valuable time tracking properties that have already been sold. Additionally, throughout the purchasing process, you will always be treated with respect and professionalism by our sales agents. 27 TH ST CANAL ST HOUSTON ST BOWERY 14 TH ST
Offering Memorandum 15 EAST 75th STREET Asking Price: $19,500,000 GUTHRIE GARVIN SENIOR VICE PRESIDENT ggarvin@masseyknakal.com 212.696.2500 x7786 MICHAEL GEMBECKI SENIOR ASSOCIATE mgembecki@masseyknakal.com 212.696.2500 x7743 TYLER HUGHES ASSOCIATE thughes@masseyknakal.com 212.696.2500 x5148
Introduction Property Information Floor Plans Property Photos Retail Map Neighborhood Map Zoning Description Neighborhood Description
The Opportunity The Upper East Side is the most established and prestigious residential neighborhood in New York City. With Central Park and the Museum Mile defining its western border, the neighborhood is famous for its classic architecture, world-class boutiques and restaurants, and a deep-rooted commitment to culture. When this sophistication is overlaid with an infrastructure of convenient transportation, plentiful retail options, and vibrant nightlife, it is easy to understand why the Upper East Side holds such a cachet for so many. The Upper East Side boasts the most expensive homes and has long been the established home of wealthy New York Families who wish to enjoy the convenience and sophistication of fine city living. 15 East 75th Street offers buyers the chance to own a 7,200 square foot home, on one of the best blocks on the Upper East Side. 15 East 75th Street offers buyers the chance to create a 7,200 square foot home, on one of the best blocks on the Upper East Side The unparalleled cultural amenities of the Upper East Side draw many to live here; the convenience, the nightlife, and the prestige associated with an Upper East Side address speak for themselves. Don t miss this opportunity to reside at a most desirable address in this charming and vibrant neighborhood. The ultimate buyer of this house will be fortunate to have secured such a rare opportunity.
Overview A five story Queen Anne style townhouse located on the north side of East 75th Street between Fifth and Madison Avenue. It currently contains doctors offices on the ground floor, a duplex on the 2 nd and 3 rd Floors, a duplex on the 4 th and 5 th Floors and a rear north facing roof terrace. Originally built in 1889 as one of a row of five houses (Nos. 9-17) on East 75th Street by architect William E. Mowbray. Between 1899 amd 1927 the house was owned and occupied by William W. and Emily P. Hall. Mr. Hall, along with brother Thomas Hall, built many elegant residences on the Upper East Side to affluent clients. The townhouse has a renovated brick facade with brownstone trim. Original details dating back to 1889 have been maintained such as the full-length arched windows at the second floor, curved oriel ar the third floor, modillioned cornice above the fourth floor and large triangular dormer spanning facade set in mansard roof at the fifth floor.* Property Description Location Block/Lot Lot Size Lot Area The north side of East 75th Street between Fifth and Madison Avenue 1390/12 17 x 102 (approx) 1,737 (approx) Townhouse Information Building Dimensions Floors 1-2 Floors 3-5 Total 17 x 95 17 x 77 3,230 (approx) 3,927 (approx) 7,157 (approx) Stories Zoning F.A.R. Total Square Feet Air Rights Square Feet Historic District: Est. Taxes: 5 R8B 4.0 7,157 (approx) None Upper East Side $74,036 (13/14) *Information from the Upper East Side Historic Designation Report
2nd Floor Cellar 1st Floor 3rd Floor
4 th Floor 5 th Floor Roof
Neighborhood Description Upper East Side INTRODUCTION The Upper East Side is the most established and prestigious residential neighborhood in New York City. With Central Park and the Museum Mile defining its western border, the neighborhood is famous for its classic architecture, world-class boutiques and restaurants, and a deep-rooted commitment to culture. When this sophistication is overlaid with an infrastructure of convenient transportation, plentiful retail options, and vibrant nightlife, it is easy to understand why the Upper East Side holds such a cachet for so many. The Upper East Side has long been the established home of wealthy New York families, as well as for empty nesters that wish to enjoy the convenience and sophistication of fine city living. These elements of the neighborhood continue to dominate the pre-war buildings along Park Avenue and Fifth Avenue, but the overall makeup of the neighborhood changes gradually as one travels east. Lexington Avenue, Third Avenue, Second Avenue, First Avenue, and York Avenue are predominantly lined with post-war residential towers, with mid-rise elevator and walk-up apartment buildings on the side streets. This part of the neighborhood appeals greatly to young professionals who work in Midtown and Downtown and prefer the Upper East Side for the convenience, the nightlife, and the prestige associated with an Upper East Side address. EMPLOYMENT Residents both young and old often work nearby. As was mentioned before, many work in the nearby hospitals like Lennox Hill, Memorial Sloan Kettering, New York Presbyterian, and the Rockefeller Institute. However, with the easy commute to Midtown, many Upper East Siders are veterans of finance,...the most established and prestigious residential neighborhood in New York City. With Central Park and the Museum Mile defining its western border... real estate, and law. J.P. Morgan Chase, Bank of America, PricewaterhouseCoopers, and KPMG are some of the world s most influential names in business and are just a handful of the major employers located nearby. In addition to these companies, 15 East 75th Street is a short subway ride from the Chrysler Building, the Greybar Building, the Empire State Building, the Met Life Building and 101 Park Avenue some of the city s largest office buildings containing countless businesses and employment options. DEMOGRAPHICS Directly related to the comforts enjoyed by area residents and easy accessibility to the city s premier employers is the favorable demographic mix for anyone betting on the
neighborhood s continued success. The Census Bureau reported that in 2009 the median household income in the area, which includes single person households, was approximately $103,000 annually. When examining only families, this number jumps to nearly $179,000, with approximately 45% of all Upper East Side families making $200,000 or more per year. Over 65% of employed area residents reported working in just a handful of industries and occupations: finance, real estate, law, health care, and upper level managers in a variety of industries. ARTS AND RECREATION The unparalleled cultural amenities of the Upper East Side are an important draw as well. The western border of the Upper East Side is Fifth Avenue, which runs along the eastern border of Central Park. This stretch of Fifth Avenue is known as the museum mile due to the high concentration of nearby museums. The most famous of these is the spectacular Metropolitan Museum of Art, located within the boundaries of Central Park between 80th and 84th Street. As the largest art museum in the Western Hemisphere, the Met house exhibits of art and artifacts from countless cultures throughout history. For those who prefer the art of the 20th Century, the Guggenheim Museum can be visited between 89th and 90th street. Known for its spectacular visiting exhibitions in painting, sculpture, and design, as well as its impressive permanent collections of modern painting, the Guggenheim not only presents its visitors with some of the world s greatest art, it is a supreme work of art itself. Two blocks north of the Guggenheim, the Cooper-Hewitt Museum presents the Smithsonian Institute s rich collection of works of design. The museum is inside a restored mansion built for Andrew Carnegie in 1901. Other nearby cultural attractions include The Jewish Museum, the Asia Society, and the American Irish Historical Society. One of the great pleasures of living on the Upper East Side is easy access to Central Park and the esplanade along the East River. Central Park spans Fifth Avenue to Central Park West and is 51 blocks long, offering many types of recreational and leisure activities, as described earlier in this section. In addition to Central Park s host of recreational activities, Charles Schurz Park can be enjoyed by Upper East Side residents as well. Charles Schurz Park (official home of the mayor of New York City at Gracie Mansion) ties in to the East River Esplanade, which can be accessed at East 71st Street, East 78th Street, East 96th Street, and East 110th Street as well. The esplanade is an ideal setting for a serious workout, or for those who simply crave the breezy openness of a walk along the river. As an aside, residents can also head there to catch a ferry to Yankee Stadium. The Vanderbilt and 92nd Street YMCAs are popular facilities utilized by many area residents. These divisions of the YMCA are institutions keeping many residents and families involved in neighborhood activities including athletic events, summer camps, classes for the youth, community board meetings, and seminars on a wide variety of topics. DINING & SHOPPING Shopping throughout the Upper East Side is abundant. Lexington and Third Avenue between East 59th and East 96th cater to an on-the-go daytime retail crowd. Convenient
shops include local cafes, bookstores, wine shops, jewelry stores, and beauty salons as well as a number of household name midlevel retailers such as Ann Taylor, Sephora, and Williams Sonoma. Throughout the Upper East Side, the variety of restaurant options is amazing. Brunch mecca Sarabeth s Kitchen, Patsy s Pizzeria, Serendipty 3, Osso Buco, Erminia, Atlantic Grille, and Sant Ambroeus are among the more well known establishments, but a walk along Second and Third Avenues will show that there are simply too many restaurants to name. This concentration of excellent, diverse, and numerous dining options adds to an already extensive list of neighborhood amenities. EDUCATION The Upper East Side has a particular appeal to wealthy families searching for world-class education institutions in which to enroll their children. Dozens of the city s elite private schools, both secular and religious, single-sex and coeducational, are sprinkled throughout its blocks. CONCLUSION The neighborhood is a gold mine of social and cultural activites and history that continues to attract residents and visitors alike. Whether one comes to savor, the history, immerse oneself in the nightlife, restaurants, museums and shops, or take a stroll through Central Park, the Upper East Side offers a multitude of pleasures.