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M A R K E T I N G T E A M
Peter Von Der Ahe260 Madison Avenue, 5th Floor
New York, NY
Tel: (212) 430-5114
Fax: (646) 349-3308
Joe Koicim260 Madison Avenue, 5th Floor
New York, NY 10016
Tel: (212) 430-5147
Fax: (212) 500-7565
David Lloyd260 Madison Avenue, 5th Floor
New York, NY 10016
Tel: (212) 430-5185
Fax: (212) 500-7565
Andrew Dansker, Financing Inquiries260 Madison Avenue, 5th Floor
New York, NY
Tel: (212) 430-5168
Fax: (212) 500-5110
Danny Handweiler260 Madison Avenue, 5th Floor
New York, NY
Tel: (212) 430-5138
Fax: (212) 500-7565
INVESTMENT OVERVIEW
PRICING & FINANCIAL ANALYSIS
PROPERTY DESCRIPTION
MARKET OVERVIEW
Section I
Section II
Section III
Section IV
146 East 89th StreetTABLE OF CONTENTS
INVESTMENTOVERVIEW
146 East 89th StreetINVESTMENT OVERVIEW
INVESTMENT DESCRIPTION
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 OPPORTUNITY
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.
146 East 89th Street is now being offered for a
reduced price of
$5,500,000
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.
146 East 89th StreetINVESTMENT OVERVIEW
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
THE OPPORTUNITY, CONT.
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.
146 East 89th Street is now being offered for a
reduced price of
$5,500,000
PRICING & FINANCIAL ANALYSIS
FINANCIAL OVERVIEW
CONFIDENTIAL OFFERING MEMORANDUM
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of theinformation. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real EstateInvestment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap
PRICING & FINANCIAL ANALYSIS
146 East 89th Street
RENT ROLL
CONFIDENTIAL OFFERING MEMORANDUM
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of theinformation. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real EstateInvestment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap
PRICING & FINANCIAL ANALYSIS
146 East 89th Street
CASH FLOW
CONFIDENTIAL OFFERING MEMORANDUM
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of theinformation. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real EstateInvestment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap
PRICING & FINANCIAL ANALYSIS
146 East 89th Street
PROPERTYDESCRIPTION
TAX MAP | BOROUGH MAP
146 East 89th Streeti
City: New Yorki
State: NYi
Block & Lot: 1517 / 149.0i
Lot Dimensions: 21 x 100i
Lot SF: 2,000i
Building Dimensions: 13 x 77i
Building SF: 5,404i
Zoning: R8Bi
Max FAR: 4.00i
Available Air Rights: 3,010i
Landmark Status: 146 East 89th Street House
Historic District: Nonei
Annual Tax Bill: __$44,471i
Tax Class: 2Bi
PROPERTY DESCRIPTION
146 East 89th Street
146 East 89th StreetSUBJECT PROPERTY
PROPERTY DESCRIPTION | PROPERTY PHOTOS
146 East 89th Street
PROPERTY DESCRIPTION | PROPERTY PHOTOS
146 East 89th Street
PROPERTY DESCRIPTION | PROPERTY PHOTOS
146 East 89th Street
MARKETOVERVIEW
MANHATTAN
146 East 89th StreetMARKET OVERVIEW | MANHATTAN
146 East 89th StreetMARKET OVERVIEW | MANHATTAN
146 East 89th StreetMARKET OVERVIEW | MANHATTAN
146 East 89th StreetMARKET OVERVIEW | MANHATTAN
MARKET OVERVIEW | THE UPPER EAST SIDE
146 East 89th Street
M A R K E T I N G T E A M
146 East 89th Street
Peter Von Der Ahe260 Madison Avenue, 5th Floor
New York, NY
Tel: (212) 430-5114
Fax: (646) 349-3308
Joe Koicim260 Madison Avenue, 5th Floor
New York, NY 10016
Tel: (212) 430-5147
Fax: (212) 500-7565
David Lloyd260 Madison Avenue, 5th Floor
New York, NY 10016
Tel: (212) 430-5185
Fax: (212) 500-7565
Andrew Dansker, Financing Inquiries260 Madison Avenue, 5th Floor
New York, NY
Tel: (212) 430-5168
Fax: (212) 500-5110
Danny Handweiler260 Madison Avenue, 5th Floor
New York, NY
Tel: (212) 430-5138
Fax: (212) 500-7565
