Historic Five-Story Manhattan Townhouse For Sale ($25MM) in Prime Upper East Side Neighborhood

14-Jul-2021

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An eternal optimist, Liu-Yue built two social enterprises to help make the world a better place. Liu-Yue co-founded Oxstones Investment Club a searchable content platform and business tools for knowledge sharing and financial education. Oxstones.com also provides investors with direct access to U.S. commercial real estate opportunities and other alternative investments. In addition, Liu-Yue also co-founded Cute Brands a cause-oriented character brand management and brand licensing company that creates social awareness on global issues and societal challenges through character creations. Prior to his entrepreneurial endeavors, Liu-Yue worked as an Executive Associate at M&T Bank in the Structured Real Estate Finance Group where he worked with senior management on multiple bank-wide risk management projects. He also had a dual role as a commercial banker advising UHNWIs and family offices on investments, credit, and banking needs while focused on residential CRE, infrastructure development, and affordable housing projects. Prior to M&T, he held a number of positions in Latin American equities and bonds investment groups at SBC Warburg Dillon Read (Swiss Bank), OFFITBANK (the wealth management division of Wachovia Bank), and in small cap equities at Steinberg Priest Capital Management (family office). Liu-Yue has an MBA specializing in investment management and strategy from Georgetown University and a Bachelor of Science in Finance and Marketing from Stern School of Business at NYU. He also completed graduate studies in international management at the University of Oxford, Trinity College.

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17K sf total, 14K sf above grade, 3K sf below grade, 3,576 sf lot, 35 X 102, Zoning R8B / LH-1A, Tax Class 2

Current asset mix: thirteen free market apartments, five office units, and 3K sf below grade

This is a historic five-story townhouse available for sale ($25MM) in a prime Upper East Side Manhattan neighborhood.  The building has thirteen free market apartments and five office units.  The property will be delivered vacant.  The property is ideal for both home owners and investors.

This building is situated in one of the most affluent neighborhoods in Manhattan.  The historic townhouse is located in a quiet tree-lined neighborhood just a block away from Central Park.  It’s also a block away from the golden retail district for high-end retail and fine dining options.  The property is conveniently located a few blocks from multiple transit stations.  

Home owners and investors alike will mutually benefit from the property’s convenient access to fine academic institutions for residents and housing demand from students and families.  The building is also located near multiple cultural institutions including The Met, The Frick, and Guggenheim Museum.

Property taxes is $163K/yr.

Using most recent sales of comparable properties in the area we derive the following fair market value for the building:

$2,786psf to $3,329psf = $39.9MM to $47.7MM Fair Market Value

Official Appraised Value from 2018 = $38MM

*The current building is underutilized by 2,000 sf.  A buyer can gut renovate and add an additional floor to develop a six-story building with another 3,000sf basement.

The seller is willing to provide $17MM in acquisition financing at 68% LTC and 8% interest rate

Oxstones Real Estate, www.Oxstones.com  CRE@Oxstones.com

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