Cushman & Wakefield today announced that the real estate services firm has been retained on an exclusive basis to market The Parge House, a five-story mixed-use building for sale, located at 866 Lexington Avenue on Manhattan’s Upper East Side. The asking price is $12,000,000.
A Cushman & Wakefield team consisting of Senior Managing Director Guthrie Garvin, Director Michael Gembecki and Associate Alexander Ball will be leading the marketing efforts on behalf of the property’s seller.
“The site presents purchasers with multiple options, including the opportunity to live in the beautiful triplex or the potential to expand the retail component to the second floor, taking further advantage the property’s corner location in a strong retail corridor,” said Guthrie Garvin of Cushman & Wakefield.
The Parge House features two commercial units on the ground floor, currently occupied by two retailers. The residential component of the building includes a 3,375-square-foot owner’s triplex with an outdoor terrace and a total of three free-market units on the 4th and 5th floors above. A private entrance provides access to the triplex, which was formerly occupied by ownership and will be delivered vacant.
The corner building is located on a tree-lined block and distinguished by its elaborate parget work, set into white decorative plaster in combination with red brick, Tudor style doors and a variegated colored slate roof. Windows line its northern and eastern facades, filling the large spacious rooms with light. The building features 14,697 gross buildable square feet and 7,557 square feet of air rights.
Located on the southwest corner of Lexington Avenue and East 65th Street, The Parge House is ideally located in the vibrant Upper East Side neighborhood. The Upper East Side is known for its elegant townhouses, world-class dining and retail, vibrant nightlife and convenient transportation. The property is easily accessible via the Lexington Avenue – 63rd Street subway station and multiple bus lines.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
