News: Brokerage

Property of the Month: Corbin and Kline of Besen & Associates retained as exclusive brokers for 229 East 60th St.

Greg Corbin,
Corbin Group at Besen & Associates

 

Aaron Kline,
Corbin Group at Besen & Associates

 

 

 

Manhattan, NY The Corbin Group at Besen & Associates, as exclusive agent for the Prince of Monteagudo, offers 229 East 60th St. for sale. This property is an exceptional investment opportunity to purchase and reposition a vacant mixed-use building on the Upper East Side.

The Galleum Building is a spectacular, newly re-constructed, 5,540 s/f (above-grade), five-story mixed-use building, with an ADA approved elevator, private garden, large rear veranda, and a roof deck that provides 360º panoramic city views. The property is found on the north side of 60th St. between Third and Second Aves.in the borough’s Midtown East Decoration & Design District.

229 East 60th St. was taken down to the studs and underwent a no expense spared, three-year rebuild that was completed in June 2016. Only the finest materials were sourced and used from top to bottom. The construction features include: New steel beams, new electrical and plumbing, LED lighting throughout, new Mitsubishi HVAC system, high-speed (60 ft. per minute) 4 ft. x 7 ft. elevator that services the roof, new concrete floors in the basement, new roof with 25-year warranty, and a custom-designed  marble garden. 

The property benefits from incredible access to public transportation, neighborhood attractions, restaurants, retail, and local amenities. Within one block is the Lexington Ave./59th St. subway station servicing the 4, 5, 6 and N, R and W trains, and three blocks north is the entrance to the subway servicing the F and new Second Ave. Q train. 

Nearby attractions include the Bloomingdale’s flagship store, Central Park, the Decoration & Design Building, the Church of Our Lady Peace, Trinity Baptist Church, Roosevelt Island Tramway and the headquarters to the United Nations.

MORE FROM Brokerage

Horvath & Tremblay Announces Strategic Integration of B6 Real Estate Advisors, Expanding New York City Presence

New York, NY Horvath & Tremblay, a premier real estate services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal & valuation services, announced the strategic integration of B6 Real Estate Advisors into the firm’s growing national platform.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent