Polsinelli of Eastern Consolidated to exclusively market 36 Riverside Drive

36 Riverside Drive, a charming 7,380 s/f, 5 ½ story residential building nestled in one of New York's most historic landmark districts on the Upper West Side, is on the market for sale exclusively through Eastern Consolidated priced at $8.5 million. Eastern's senior director Adelaide Polsinelli is spearheading the marketing initiative for the property on behalf of a family partnership. 36 Riverside Drive were the earliest row houses (1888-89) to be erected on the Drive. They were originally the southern half of a row of four that were designed by LAMB & RICH, architects of Barnard College, for George and Clarence Lowther, well-known for their coal yards. Situated steps from stunning views of the Hudson River, the quaint 1880s-era property -located on Riverside Drive at 76th Street - includes eight residential units and can be delivered vacant at closing. According to Polsinelli, the property is also a "perfect user opportunity" lending itself to a variety of possibilities, including townhouse and institutional uses. "Investors are flocking to residential assets on the Upper West Side more than ever thanks to its solid family-friendly tenant base and stability from a revenue perspective," she said, noting that sales volume of multifamily properties in the neighborhood increased three-fold in 2012 over 2011. "Based on our company research, we are finding that buyers are more likely to park capital in neighborhoods that deliver consistent, steady demand, and that's certainly the 'West Side Story' of commercial real estate right now." 36 Riverside Drive is located in walking distance from several dynamic new developments, including Extell Development Company's Riverside South, a five-building, 2,500-unit mixed-use development designed by Pritzker Prize-winning architect's Christian de Portzamparc. The sites are also located in close proximity to the 1, 2, and 3 subway lines, and major attractions and institutions such as Lincoln Center, Columbia University and the American Museum of Natural History.