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Mixed-Use

121 E 89th St

121 E 89th St, New York, NY 10128

Listing Price: $6,700,000

Cap Rate
2.18%
Number of Units
5
Occupancy
100.0%
Price/Unit
$1,340,000
Price/Gross SF
$1,022.90
Gross SF
6,550

Investment Overview

Marcus & Millichap is pleased to offer 121 East 89th Street, located on East 89th Street between Park Avenue & Lexington Avenue in the Carnegie Hill section of Manhattan, New York. 121 East 89th Street is a 4 story historic residential building of Northern Renaissance Revival, constructed between 1888 - 1889 under the owner Estate of William C. Rhinelander. The building was designed by Henry J. Hardenbergh, a prominent American architect known for designing the original Waldorf and Astoria Hotels on Fifth Avenue. 121 East 89th Street is located within the Hardenbergh/Rhinelander Historic District, named after the both the architect and the owner estate of the subject property. The Rhinelander family were sugar merchants who acquired large tracts of land in the 1770’s. The Rhinelander’s went off to build over 100 row houses, small flats, and large apartment buildings. 121 East 89th Street consists of 1 office/apartment unit and 4 true three-bedroom\2-bathroom apartments. Each apartment features washer\dryer and 10 foot ceiling heights. The property is built 17 ft x 73 ft and sits on a 20.17 ft x 83.5 ft lot with approximately 6,550 gross square feet. The property is zoned C1-8X allowing for approximately 8,597 gross SF of available air rights (Block: 1518, Lot: 15) This property offers investors and owner/users the rare opportunity to purchase a historic residential building in the Carnegie Hill section of Manhattan, New York.

Investment Highlights

  • Rare Prime Carnegie Hill Multi-Family Building
  • 4 Free Market Apartments
  • Strong Candidate For Owner/User/Single Family Conversion

Exclusively Listed By

Financing By

Mixed-Use

121 E 89th St

Listing Price: $6,700,000

Cap Rate
2.18%
Number of Units
5
Occupancy
100.0%
Price/Unit
$1,340,000
Price/Gross SF
$1,022.90
Gross SF
6,550

Investment Highlights

  • Rare Prime Carnegie Hill Multi-Family Building
  • 4 Free Market Apartments
  • Strong Candidate For Owner/User/Single Family Conversion

Investment Overview

Marcus & Millichap is pleased to offer 121 East 89th Street, located on East 89th Street between Park Avenue & Lexington Avenue in the Carnegie Hill section of Manhattan, New York. 121 East 89th Street is a 4 story historic residential building of Northern Renaissance Revival, constructed between 1888 - 1889 under the owner Estate of William C. Rhinelander. The building was designed by Henry J. Hardenbergh, a prominent American architect known for designing the original Waldorf and Astoria Hotels on Fifth Avenue. 121 East 89th Street is located within the Hardenbergh/Rhinelander Historic District, named after the both the architect and the owner estate of the subject property. The Rhinelander family were sugar merchants who acquired large tracts of land in the 1770’s. The Rhinelander’s went off to build over 100 row houses, small flats, and large apartment buildings. 121 East 89th Street consists of 1 office/apartment unit and 4 true three-bedroom\2-bathroom apartments. Each apartment features washer\dryer and 10 foot ceiling heights. The property is built 17 ft x 73 ft and sits on a 20.17 ft x 83.5 ft lot with approximately 6,550 gross square feet. The property is zoned C1-8X allowing for approximately 8,597 gross SF of available air rights (Block: 1518, Lot: 15) This property offers investors and owner/users the rare opportunity to purchase a historic residential building in the Carnegie Hill section of Manhattan, New York.

Exclusively Listed By

Financing By

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