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$18,683,333
List price: $19,000,000
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324-328 East 89th Street
Townhouse in Yorkville •  building info
20bd • 20ba • 34,760ft² $547 per ft²
Sold price

$19,000,000

Key Details
Days on market
156
Last price change
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Estimated payment
$115,407
Taxes
$12,884
Monthly maintenance
N/A
Description
We have 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.

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Important Stuff
Pets allowed
History
What it'll cost
Purchase price
$19,000,000
Asking Price: $19,000,000
Term
30 Years
Down Payment
$1,900,000 (10%)
Min: 10% (1,900,000)
Rate
6.0 %
Mortgage Amount
$17,100,000
Mortgage Payment
$102,523
Taxes
$12,884
Estimated Yoreevo rebate
Estimated closing cost
Total monthly cost $115,407
Buy your dream home with us and get an estimated
$316,667 rebate.
Rebates vary by sale price, market and are subject to a minimum commission.
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