The Reel

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A blog for breaking sales and neighborhood real estate news.

A vacant commercial building at 350 East 81st Street, located between First and Second Avenues on Manhattan’s Upper East Side, was sold for the first time in 25 years in an all cash transaction valued at $3,750,000.

The four-story plus mezzanine elevator building is approximately 9,201 square feet and sits on a 24’ x 102’ lot.  The elevator building was delivered vacant and is currently configured with a restaurant at grade with office above. The sale price equates to $408 per square foot.

“The building was bought by foreign buyers who closed all cash with the intention of converting it into multiple residential units,” said Massey Knakal Vice President of Sales Thomas D. Gammino who exclusively represented the seller in this transaction.

Click here for press release

Neighborhoods: Upper East Side