Updated 8 years ago
Sold
5-7 East 89th Street
Carnegie Hill, Manhattan | Madison Ave & Fifth Ave
8,950 Square FeetCommercial
$25,000,000
floors2
Lot Size64'x100'
ZoneR8B
Building TypeLow-Rise
RE Taxes$317,101
Price Per SF
$2,793
Building Amenities
- Courtyard
Property Description for 5-7 East 89th Street
William Platt designed 5-7 East 89th Street under the commission of New Yorks National Academy in 1958. This highly functional and adaptable 2-story building boasts nearly 65 of frontage on East 89th Street, and sits across from the Guggenheim Museum and Central Park. The Platt-designed property primarily houses classroom and art studio space for the National Academy, one of the most renown art institutions in the United States.
The spacious main lobby of the building houses art exhibits, a lounge seating area and a security desk. The remainder of the ground floor houses large classrooms and studio space, as does the second floor. There is a windowed basement which houses additional classrooms and art studios, an elevator and a large, open courtyard at the rear of the building.
5-7 East 89th Street provides an extremely rare opportunity for a discerning buyer to create a home for their foundation, public institution or an academy just off of Central Park. It is also an exceptional chance to own a substantial piece of real estate in one of the most sough-after neighborhoods in the world.
Listing History for 5-7 East 89th Street
Now
12/10/2018
Sold and Closed by Carrie C. Chiang
Corcoran
2018
Building Details for 5-7 East 89th Street
OwnershipCommercial
Building TypeLow-Rise
AgePost-War
AccessWalk-up
Year Built1958
Floors2
Transit and Citi Bike
Subway
86 St
0.3 miles
96 St
0.41 miles
Citi Bike
5 Ave & E 87 St
0.11 miles
E 91 St & Park Ave
0.16 miles
Carnegie Hill | Manhattan
Quick Profile
Carnegie Hill is a small neighborhood at the northern tip of the Upper East Side that borders Central Park. It is steeped in history, great wealth, architecture and culture. It is known for its world-class museums and its rows of historic mansions. Nothing much changes here as the entire area is landmarked, preventing the proliferation of high-rise developments. Thus the buildings stay a human scale, the sky is aplenty and the neighborhood kind of feels like a small town to its long time residents.
The name Carnegie Hill is derived from the industrial magnate Andrew Carnegie, when Carnegie decided to build himself a mansion at 91st Street and Fifth Avenue….
Carnegie Hill is a family neighborhood with old fashioned upper crust money. The mid-rise co-ops that line the avenues are among the most prestigious addresses in the city. The avenues are lined with small restaurants, boutique shops
The residential towers that have proliferated on the eastside of Third Avenue in the East 90s simply do not exist between Lexington and Fifth.
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: 68621TH
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