Marcus & Millichap on behalf of Newel, LLC offers for sale the fee simple interest in 425- 429 East 53rd Street ("Property") a.k.a. 425 East 53rd Street (Block: 1365 Lot: 16) a.k.a. The Newel Building. The Newel Building is located in midtown east Manhattan, in a posh, predominantly pre-war building enclave called Sutton Place. The Property will be delivered vacant. It is comprised of approxiately 34,125 sq. ft. on 5 floors (above grade) plus an additional 6,000 + sq. ft. basement, plus a 1,500 + sq. ft. boiler room sub-basement. The Property is built full to lot line and measures approximately 75' x 91' providing an additional 6,000 + sq. ft. roof deck space for a reimagined use. Total available space is approximaely 48,000 square feet. Ceiling heights throughout the Property range from 9' at the basement level to 13'5" - 15'8" on above grade levels 1 - 5. The property also features a curb cut, and car-sized freight elevator and a passenger elevator. The Property is zoned residential (R10, FAR:10) and has a commercial use Certificate of Occupancy. The Property is delivered as-is without air rights. The Property occupies 75' of frontage midblock along the north side of East 53rd Street between First Avenue and Sutton Place a.k.a. Sutton Place Park a.k.a. FDR Drive exit 11 East 53rd Street. The north, west and south facing sides of the Property look out into open space. The Property has a distinct look and feel and can best be described as an impressive open-floor loft style building. Investment Highlights ¦ Class A fireproof loft building ¦ Flexible commercial and/or residential use possibility ¦ On-site parking ¦ Strategic Midtown-East location ¦ High-end residential and corportate neighbors ¦ Near to Major Art, Science and International Government Institutions ¦ High ceilings throughout ¦ 34 year ownership, delivered vacant
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