Leslie J. Garfield & Co., Inc. arranges sale of 308 East 81st Street for $5.45 million

Leslie J. Garfield & Co., Inc. arranged the sale of 308 East 81st St., a totally renovated four-story single-family townhouse with a curb cut and a private garage located on the South side of 81st St. between First and Second Aves. This 4, 100 s/f building is on a lot-15'x 1 02' and contains four bedrooms, seven bathrooms, a fully escavated 1,000 s/f basement with two additional rooms, a center office area, a full bathroom and a staircase that brings you to the exterior floor above. The property was held at $5.45 million. This property was bought in 2002 in Estate condition with no existing curb cut or garage. It was not only completely renovated from top to bottom, but the building was also extended back to 67' on all floors and the basement/cellar which was a tiny unfinished space with barely enough room to walk, was fully escavated resulting in a finished, totally usable extra level with unusually tall ceilings. The garage and curb cut were also added and approved by the DOB. The decision to decisively sell was made after the tenant of 4 years moved out in August. The purchaser walked in a month ago, saw it once and immediately saw the value in this property and made an offer. Due to a 103I Exchange, the pace of this transaction was key and from initial inspection to closing was roughly 30 days in total. Lydia Rosengarten of Leslie J. Garfield Real Estate., brokered both sides of the deal. The seller was represented by Francis Coffey, Esq. of Heiberger & Assoc, P.C. and the Buyer was represented by Craig Price, Esq. of Belkin Burden Wenig & Goldman, LLP.