Updated 7 years ago
Off Market
Rhinelander Historic Townhouse
146 East 89th Street
Upper East Side, Manhattan | Lexington Ave & Third Ave
7 Beds5,483 Square FeetRental Property
$6,499,500
floors / apts5 / 5
Lot Size20'11"x100'8"
Built Size20'11"x77'
ZoneR8B
Building TypeTownhouse
RE Taxes$35,236
Price Per SF
$1,185
Listing Features
- Architectural Dtls
- Original Details
- Oversized Windows
Outdoor space and views
- Backyard
- Balcony
- Deck
- Garden
- Private Roof
- Townhouse Views
- Treeline Views
Building Amenities
- Voice Intercom
Property Description for 146 East 89th Street
Investment Overview:
Marcus & Millichap is pleased to offer the following opportunity located in the Rhinelander District of the Upper East Side. The property has a total approximate square footage of 5,483 and is located on east 89th Street between Lexington and Third Avenues. The property is built approximately 13 feet by 77 feet deep and is situated on a 21 by 101 foot lot (Block: 1517 Lot: 0149). The property is zoned C1-8X, includes approximately 3,000 square feet of unused air rights, and falls within the protected 2B tax class distinction.
The subject property is a four-story townhouse currently configured as a five-unit multifamily building. The first floor is divided into two apartments: the front unit is a one-bedroom duplex while the rear unit is a two-bedroom duplex with access to a private south facing garden.The second and third floors each contain a floor-through two-bedroom unit with a private balcony. The fourth floor is a two-bedroom duplex with annex and roof deck access.
This is an extremely rare opportunity to acquire an entirely free market building on the Upper East Side. The building, which boasts tremendous character and history, has light and air on three sides, original fire places, and a south facing garden. All current residential leases contain demolition clauses, rendering it ideal for an immediate single family conversion or live plus income investment.
The Rhinelander District is one of the smallest historic districts in New York City, comprised of seven buildings on the corner of East 89th Street and Lexington Avenue. These seven homes were originally designed as “French Flats”, which exemplified a distinct social status at a time when most all New Yorkers shared living quarters in tenement buildings. The Rhinelanders, one of New York’s oldest and wealthiest landlords in the 18th and 19th centuries, hired renowned architect Henry Hardenbergh — whose résumé included the Dakota, the Waldorf Astoria, and the Plaza - to design these homes with an aura of romance and sophistication.
Traditionally one of the most mature and stable rental markets in Manhattan, this Upper East Side building is located just three blocks from the 4, 5, and 6 subway lines at East 86th Street and Lexington Avenue.
Investment Highlights:
• Rare Offering - One of Seven Addresses in the Prestigious Rhinelander District
• 100% Free Market; Ideal for Single Family Conversion or Live Plus Income Investment
• Building Contains Unique Triple Exposure: Light and Air on Three Sides
• South Facing Garden, Original Fire Places, and Hardwood Floors
• Five Free Market Units: Features Ground Floor Two Bedroom Duplex Garden Unit Top Floor Two-Bedroom with Roof Deck Access; Floor Through Units Have Private Balconies
• Located Steps from 4, 5, and 6 Trains on Lexington Avenue and East 86th Street
Marcus & Millichap is pleased to offer the following opportunity located in the Rhinelander District of the Upper East Side. The property has a total approximate square footage of 5,483 and is located on east 89th Street between Lexington and Third Avenues. The property is built approximately 13 feet by 77 feet deep and is situated on a 21 by 101 foot lot (Block: 1517 Lot: 0149). The property is zoned C1-8X, includes approximately 3,000 square feet of unused air rights, and falls within the protected 2B tax class distinction.
The subject property is a four-story townhouse currently configured as a five-unit multifamily building. The first floor is divided into two apartments: the front unit is a one-bedroom duplex while the rear unit is a two-bedroom duplex with access to a private south facing garden.The second and third floors each contain a floor-through two-bedroom unit with a private balcony. The fourth floor is a two-bedroom duplex with annex and roof deck access.
This is an extremely rare opportunity to acquire an entirely free market building on the Upper East Side. The building, which boasts tremendous character and history, has light and air on three sides, original fire places, and a south facing garden. All current residential leases contain demolition clauses, rendering it ideal for an immediate single family conversion or live plus income investment.
The Rhinelander District is one of the smallest historic districts in New York City, comprised of seven buildings on the corner of East 89th Street and Lexington Avenue. These seven homes were originally designed as “French Flats”, which exemplified a distinct social status at a time when most all New Yorkers shared living quarters in tenement buildings. The Rhinelanders, one of New York’s oldest and wealthiest landlords in the 18th and 19th centuries, hired renowned architect Henry Hardenbergh — whose résumé included the Dakota, the Waldorf Astoria, and the Plaza - to design these homes with an aura of romance and sophistication.
Traditionally one of the most mature and stable rental markets in Manhattan, this Upper East Side building is located just three blocks from the 4, 5, and 6 subway lines at East 86th Street and Lexington Avenue.
Investment Highlights:
• Rare Offering - One of Seven Addresses in the Prestigious Rhinelander District
• 100% Free Market; Ideal for Single Family Conversion or Live Plus Income Investment
• Building Contains Unique Triple Exposure: Light and Air on Three Sides
• South Facing Garden, Original Fire Places, and Hardwood Floors
• Five Free Market Units: Features Ground Floor Two Bedroom Duplex Garden Unit Top Floor Two-Bedroom with Roof Deck Access; Floor Through Units Have Private Balconies
• Located Steps from 4, 5, and 6 Trains on Lexington Avenue and East 86th Street
Listing History for 146 East 89th Street
Now
09/07/2016
POM by Danny Handweiler
Marcus & Millichap
04/19/2016
$6,499,500
Initial Price by Danny Handweiler
Marcus & Millichap
Building Details for 146 East 89th Street
OwnershipRental Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Floors/Apts5/5
Transit and Citi Bike
Subway
86 St
0.14 miles
86 St
0.26 miles
96 St
0.35 miles
96 St
0.42 miles
Citi Bike
E 89 St & 3 Ave
0.1 miles
E 88 St & Park Ave
0.1 miles
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: 38735TH
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