538 East 11th Street, New York, NY 10009

Alphabet City, East Village, Lower East Side, New York, New York 10009

$19,950,000  

Listing ID Number

25425

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of Bathhouse Studios, a one-of-a-kind multilevel studio and event space topped by a magnificent residence, located on the south side of East 11th Street between Avenue A and Avenue B. Built between 1904 and 1905 and designed in the Neo-Italian Renaissance style, the former public bathhouse was converted into a high-end studio in 1995 by Pulitzer Prize winning photographer Eddie Adams. Designed by esteemed architect Gene Kaufman, the studio was used to house Adams’ work for Parade Magazine and Associated Press, in addition to some of his other major achievements. He also worked and conducted shoots in the studio.

The studio and event space has hosted world renowned brands such as Lamborghini, Vogue, Gucci, Nike, Lacoste, Ketel One Vodka, Ford, and Victoria Beckham, among many others. The ground floor features 20 foot ceilings, oak floors, exposed brick, antique frosted windows, blue glass tile, and glass block skylights with electric black screen shades. There are two curb cuts on the ground floor, one of which leads to the English basement. The 11 foot high English basement consists of marble black & white tile and cement floors along with antique glass framed doors. The residence possesses 16 foot ceilings, oak floors throughout, antique ceiling light fixtures, a kitchen with granite and stainless steel countertops, and two grand bathrooms. Furthermore, both the kitchen and bathrooms are tiled and enjoy top of the line appliances. The residence walks out to a sun drenched 2,200 square foot outdoor deck that can serve home to remarkable gatherings. Additionally, the entire building utilizes a central HVAC system.

The building is located within easy walking distance to the 14th Street L train stop and steps from popular neighborhood hot spots including Webster Hall, Astor Place, Cooper Square, International Center of Photography, New Museum of Contemporary Arts, Anthology Film Archives and The East River Waterfront Esplanade. The area has also experienced a number of astounding new developments such as Steiner East Village, Extell’s 510 East 14th Street and Magnum’s 100 Avenue A. These additions to the neighborhood, as well as many others, have garnered the attention of buyers who want to live, work, and play in one of the most dynamic neighborhoods in New York City.

This is an extremely rare opportunity for residential and commercial end users to acquire the only first class freestanding building featuring an expansive studio, event space, fully renovated residence and landscaped roof deck in the heart of the East Village.

Overview

Building Type:Commercial Buildings, Live Plus Income Buildings, Mixed-Use Investment Buildings, Mixed-Use User Buildings, Townhouses
Block/Lot:404/23
Lot Dimensions:50.5' x 94.79'
Lot Sq Ft:4,787
Buildable Sq. Ft:19,148
Unit Sq Ft:14000
Stories:2
Units:1
Zoning:R8B
FAR:4.00
Residential / Community Facility
Year Built:1904
Landmark Status:Yes

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Robert A. Knakal
Chairman, New York Investment Sales
(212) 660 7777
robert.knakal@cushwake.com

Michael F. DeCheser
Senior Managing Director
(212) 660 7772
michael.decheser@cushwake.com

Jonathan Hageman
Executive Managing Director
(212) 660 7773
jonathan.hageman@cushwake.com

Darragh Clarke
Director
(212) 660 7737
darragh.clarke@cushwake.com

Andrew Berry
Director
(212) 589-5124
andrew.berry@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.