Living in a Material World
A four-story townhouse that sits on the borderline with the mansion of the Upper East Side’s most famous material girl is on the market for $9.5 million.
The 4,160-square-foot building at 158 East 81st Street sits adjacent to Madonna’s Upper East Side abode, offering the right buyer an opportunity to double its square footage and sneak an occasional glance at the Queen of Pop.
“I see that as far from being a bad thing,” said Massey Knakal’s Guthrie Garvin, who is marketing the property with Thomas Gammino, Jr.
“It not only has a well-known neighbor, but it has a very nice feel to it,” he said, noting the quaint 1,000-square-foot backyard and the site’s development potential.
Massey Knakal has arranged the $5.5 million sale of an apartment building at 104 Suffolk Street on the Lower East Side to a foreign investor, demonstrating the city’s continued status as one of the world’s few safe havens, The Commercial Observer has learned.
The 10,000-square-feet five-story walk-up consists of 20 residential units, 14 free market and six rent stabilized, with 18 one-bedroom apartments and two duplexes. Recent renovations include the entrance, common areas, roof and a dual fuel burner was recently installed.
“104 Suffolk Street was purchased by an overseas investor, which is a testament to the growing interest among the international community,” said Massey Knakal’s Michael DeCheser, who exclusively represented the seller in the transaction with CEO Paul Massey, Jr. and Guthrie Garvin.
On the Market
A retail condominium at 383-391 Amsterdam Avenue (172 West 79th Street), with a mix of six retail tenants in place and located within gawking distance of a recent Katie Holmes citing next door, has sold for $12.2 million, The Commercial Observer has learned.
The condominium, on the corner of Amsterdam Avenue and West 79th Street, is divided into six stores totaling approximately 4,070 rentable square feet at ground level, with 102 feet of frontage on Amsterdam Avenue and 30 feet on West 79th Street, in a posh Upper West Side retail corner.
A note to all billionaires: Massey Knakal Realty Services is exclusively marketing an 11,000-square-foot Upper East Side building at 18 East 64th Street for $40 million.
The property has been off the market for six decades, and now presents an opportunity for a potential buyer to cut down existing office and residential space in the building and create a single-family palace on one of the city’s most exclusive blocks – and the nation’s most expensive neighborhood.