866 Lexington Avenue, New York, NY 10065

Upper East Side, New York, New York 10065

$12,000,000  

Listing ID Number

25473

Property Description

The Parge House is a classic property, created by architect Frederick Sterner in 1923, with numerous configuration possibilities on New York City’s elegant Upper East Side. A corner building on a tree-lined block, the building is distinguished by its elaborate parge work set into white decorative plaster in combination with red brick, Tudor style doors and variegated colored slate roof. Windows line its northern and eastern facades, filling the large spacious rooms with light. The countless fine details seen throughout the building make this a truly one of a kind opportunity for any purchaser.

The Upper East Side has long been the established home of wealthy New York families who wish to enjoy the convenience and sophistication of fine city living. 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. With Central Park and Museum Mile defining its western border, the neighborhood is famous for its elegant townhouses, world-class boutiques and restaurants, top-rated schools 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 a cachet for so many. The Parge House captures the best of New York living and is a once in a lifetime opportunity to own a piece of the exclusive Upper East Side that is anchored by corner retail.

The property is a twenty (20’) foot wide, eighty (80’) foot long, five (5) story mixed-use building located on the southwest corner of Lexington Avenue and East 65th Street. The property has two (2) commercial units on the ground floor currently occupied by fine linens retailer Casa Del Bianco and custom tailor Manolo Costa. Casa Del Bianco is positioned on the corner of Lexington and East 65th Street and Manolo Costa occupies the western portion of the building and has a separate address of 130 1/4 East 65th Street. Each of the retail tenants also occupies a residential unit.

The residential component of the building includes a beautiful 3,375 (approx) square foot owners triplex with outdoor terrace and a total of three (3) free market units on the 4th and 5th floors above. A private entrance on East 65th Street provides access to the triplex, which was formerly occupied by ownership and will be delivered vacant. The triplex has its own separate address (130 ½ East 65th Street); the main stairwell for the upper units is through a Lexington Avenue entrance and services all floors above.

Overview

Building Type:Apartment Buildings, Commercial Buildings, Commercial Condo/Co-op, Development/Conversion Sites, Live Plus Income Buildings, Mixed-Use Investment Buildings, Mixed-Use User Buildings, Special Use, Townhouses
Lot Dimensions:20.42 x 80
Residential Units:4
Commercial Units:2
Zoning:C1-8X
Building Sq Ft:7,140

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Guthrie Garvin
Executive Managing Director
(212) 660 7786
guthrie.garvin@cushwake.com

Michael Gembecki
Director
(212) 660 7743
michael.gembecki@cushwake.com

Alexander Ball
Associate
(212) 660-7715
alexander.ball@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.