JLL has been retained on an exclusive basis to arrange for the sale of 19 East 66th Street (the "Property"), a 20' wide, 5-story elevatored commercial townhouse on the north side of East 66th Street between Fifth and Madison Avenues. The Property represents an attractive opportunity for an investor to either reposition the property into a single family residence, a pied-a-terre, or continue to operate the property as a commercial townhouse. The building is currently configured as a two-tenant commercial property, consisting of two separate art galleries known as Blum & Poe and Rosenberg and Co. Across both leases, the Property generates over $1,000,000 in gross annual revenue, in addition to benefitting from real estate tax reimbursements from both tenants. The Property features 6 floors of usable space, generous ceilings heights, and high-end showroom finishes throughout. The prestigious location of this property has made this townhouse attractive to art dealers and is currently home to two well known galleries. Features of this property include a center entrance, a spacious lobby, an elevator, a terrace off the third floor and central air conditioning. In addition to receiving a new roof in 2014, a new water main was installed from the street to the building in 2016 and 12 new windows on the front of the building were installed in 2018. Founded in Santa Monica in 1994, Blum & Poe is a contemporary art gallery that showcases the connection sculpture, paintings & photography that also features locations in Los Angeles and Tokyo. Rosenberg & Co. Gallery continues Marianne Rosenberg's family's distinguished tradition of exhibiting both modern and contemporary art. The gallery presents an international roster of works by prominent impressionist, modern and contemporary artists. Together with the Blum & Poe gallery, Rosenberg & Co. have made 19 East 66th Street synonymous with fine contemporary art. 19 East 66th Street will appeal to an array of purchasers interested in acquiring a commercial townhouse in a marquee Upper East Side location on a Central Park block. The Property will be sold on an as-is, where-is, basis
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