328 East 89th Street
328 East 89th Street
$19,000,000
20
20
34,760
34,760
$547
Sold 1/19/22
Description
Compass has been retained on an exclusive basis to facilitate the sale of 324-328 and 327 East 89th Street on the Upper East Side. These four magnificent, 25' wide brownstones total 40 units spread over ~35k SF above-grade with six rent-stabilized and two rent-controlled units. Two of the buildings have only one regulated unit between them with 327 E. 89th having one RS unit and seven vacancies, and 328 E. 89th being fully free-market. They have been well-maintained and owned by the same family for...Compass has been retained on an exclusive basis to facilitate the sale of 324-328 and 327 East 89th Street on the Upper East Side. These four magnificent, 25' wide brownstones total 40 units spread over ~35k SF above-grade with six rent-stabilized and two rent-controlled units. Two of the buildings have only one regulated unit between them with 327 E. 89th having one RS unit and seven vacancies, and 328 E. 89th being fully free-market. They have been well-maintained and owned by the same family for three generations. The high percentage of free-market units offers investors numerous opportunities:
A. Keep the in-place income and lease up the remaining
units (current ownership has intentionally left vacancies in
preparation for a sale) for a solid rate of return in already renovated
buildings;
B. Combine each floor into floor-through luxury units
that would rent or sell at a premium upon converting to
condominiums or single-families;
C. Install an elevator in between the contiguous buildings
and create a 50' or 75' masterpiece in a highly-desired part
of Manhattan where condominium and single-family sales
range upwards of $2,500 / SF for 25’ wide brownstones.
This is a truly remarkable opportunity to own a part of old NYC
that is only a few blocks from the new second avenue subway
line. Please reach out to request the DHCRs, a Pro Forma, or for any other
questions. Ownership would prefer to sell as a portfolio but will
consider all offers.
A. Keep the in-place income and lease up the remaining
units (current ownership has intentionally left vacancies in
preparation for a sale) for a solid rate of return in already renovated
buildings;
B. Combine each floor into floor-through luxury units
that would rent or sell at a premium upon converting to
condominiums or single-families;
C. Install an elevator in between the contiguous buildings
and create a 50' or 75' masterpiece in a highly-desired part
of Manhattan where condominium and single-family sales
range upwards of $2,500 / SF for 25’ wide brownstones.
This is a truly remarkable opportunity to own a part of old NYC
that is only a few blocks from the new second avenue subway
line. Please reach out to request the DHCRs, a Pro Forma, or for any other
questions. Ownership would prefer to sell as a portfolio but will
consider all offers.
Listing Agents
Amenities
- Common Roof Deck
- Exposed Brick
- Decorative Mouldings
- Hardwood Floors
- High Ceilings
- Walk Up
- Laundry in Building
- Renovated Kitchen and Bath
Location
LISTING UPDATED: 01/18/2022 07:14 PM
Property Details for 328 East 89th Street
Status | Sold |
---|---|
Days on Market | 97 |
Taxes | $12,884 / month |
Maintenance | - |
Min. Down Pymt | - |
Total Rooms | 40.0 |
Compass Type | Multi Family |
MLS Type | - |
Year Built | 1920 |
Lot Size | 10,068 SF / 25' x 101' |
County | New York County |
Building
Location
Building Information for 328 East 89th Street
Stories5Residences40Year Built1920Building Size25' x 74'Building Sq. Ft9,250 SFLot Size10,068 SF / 25' x 101'Building AgePre-warBuilding TypeBrownstone
Payment Calculator
$116,575 per month
The Payment Calculator is for illustrative purposes only.
Property History for 328 East 89th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 328 East 89th Street
Taxable ValueLand$580,500Additions$1,268,100Total$1,848,600
Home Facts
Total Finished SqFt8,890 SqFtLot Size2,616 SqFtYear Built1920ZoningR8BAPN1015510036
Schools near 328 East 89th Street
This home is within New York City Geographic District # 2.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 6 to 8 |
Rating | School | Distance |
---|---|---|
Yorkville Community School PublicPK to 5 | ||
P.S. 527 East Side School-Social Actio PublicK to 5 | ||
Jhs 167 Robert F Wagner Public6 to 8 | ||
Nyc Lab Ms For Collaborative Studies Public6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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