The Reel

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A blog for breaking sales and neighborhood real estate news.

A mixed-use townhouse at 164 East 61st Street located between Lexington and Third Avenues on the border of Manhattan’s Midtown East and Upper East Side neighborhoods, was sold in an all-cash transaction valued at $5,900,000.

The five-story building contains approximately 5,800 square feet and sits on a 20’ x 100’ lot. It currently consists of one recently renovated commercial unit and six residential units.  Of these residential units, one is a three-bedroom duplex.  The remaining units consist of two studios and three one-bedroom units.  The sale price equates to approximately $1,017 per square foot.

The building was delivered entirely vacant, making it an exceptional opportunity in a well established and accessible neighborhood of Manhattan.

“The buyer, Ira Lifshutz, has been very active in the neighborhood and plans on renovating and operating the building as a boutique rental property,” said Massey Knakal Director of Sales Clint B. Olsen, who represented the seller in this transaction.

Click here for press release

Neighborhoods: Upper East Side, Midtown East