$18,000,000
Updated 11 years ago
Sold

162 East 78th Street

Upper East Side, Manhattan | Lexington Ave & Third Ave

5 Baths9,007 Square FeetSingle Family

$18,000,000
floors5
Lot Size18'75"x102'17"
Built Size18'75"x53'
ZoneR8B
Building TypeTownhouse
RE Taxes$120,695
Price Per SF
$1,998

Listing Features

  • Restored Details

Outdoor space and views

  • City Views
  • Garden Views

Building Amenities

  • Voice Intercom
  • Elevator

Property Description for 162 East 78th Street

New York Residence is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of 162 East 78th Street, a six-story elevatored townhouse currently used as a medical facility. It was completely renovated in 2010.

The property presents a wide range of options - it could simply be held as an investment to generate a solid net yield of 4% with $720,000 annual NOI; all management tasks would be taken care of by the tenant’s staff.

If acquired by a hospital or medical professional, part of the space could be made available for the future owner who might benefit from significant synergies with the existing medical team.

Or, if so desired by a purchaser, the property could be vacated by the current occupants to facilitate other office use or a residential conversion.

Either way, this offering presents an outstanding opportunity to acquire a prime building on one of the nicest streets of the Upper East Side, just three blocks from Central Park. Excellent access to public transportation - a subway station is located just around the corner.

Listing History for 162 East 78th Street

Now
01/22/2016
Sold and Closed by Thomas Guss
New York Residence
2016

Building Details for 162 East 78th Street

OwnershipSingle Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessElevator
Year Built1926
Floors5
Learn More About the Building

Transit and Citi Bike

Subway

77 St
0.05 miles
72 St
0.36 miles
86 St
0.42 miles
86 St
0.46 miles
68 St-Hunter College
0.48 miles

Citi Bike

E 77 St & 3 Ave
0.06 miles
E 76 St & Park Ave
0.17 miles

Contact Agents

Contact Agents

Thomas Guss
New York Residence
Saul Lalic
New York Residence
Hanna Sternberg
New York Residence

Upper East Side | Manhattan

Quick Profile

Exuding a cosmopolitan, refined air that is reminiscent of Paris or other European cities, the Upper East Side (the UES, to local cognoscenti) has a reputation as being a bastion of wealth and privilege. Even though it was built by American “royalty” families like the Vanderbilts, Roosevelts, Kennedys, Carnegies and Rockefellers, whose elaborate mansions once anchored Fifth Avenue, there are affordable housing options throughout the neighborhood. The further east you move, away from Central Park and the more commercial avenues, the more likely you are to find quiet, tree-lined streets with historic townhouses and brownstones. Keep your eye out for reasonably priced apartments in pre-war low-rise and even a few high-rise buildings.

With abundant, beautifully landscaped green spaces, including the oasis of Central Park acting like a backyard, the area is quiet and lushly green. You can relax and unwind in John Jay Park, Carl Schurz Park or take a stroll along the East River Promenade. The whole neighborhood seems isolated from the workaday chaos of the city at large. Add to that the history of the neighborhood and the abundance of cultural institutions, and you have a uniquely welcoming neighborhood.

Known for its abundance of high-end retail shopping, especially on Madison Avenue, the Upper East Side is host to the Barneys New York flagship department store. Here you can find upscale goods, fashion and home decor items. You will also find the edgy runway-inspired Alexander McQueen collections. If you are dying to treat your feet to red-soled opulence, be sure to visit the Christian Louboutin boutique. These are only a small sampling of this high-end shopper’s paradise that features everything from designer boutiques that offer the ultimate in haute couture to resale shops where you can find last season’s best on sale at hefty discounts .

There are many unique dining experiences, from fine dining to the casual bite-on-the-go, awaiting you in the UES. Sushi is going through a renaissance in the city, and the best omakase-style sushi can be found at Sasabune on E 73rd Street. Omakase sushi means that you leave the choice of ingredients, preparation method and presentation to the chef. Elegant French cuisine can be experienced at JoJo, E 64th Street, housed in gorgeous townhouse. Just for fun, visit the Lexington Candy Shop on Lexington Avenue, to get a taste of an old-fashioned soda fountain.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 24458TH