29 Beekman Place_Offernig Memorandum_em

BANKRUPTCY SALE:
29 BEEKMAN PLACE, NYC
12,000 Sq. Ft. Trophy Residence
Sweeping East River Views
Blocks from the United Nations

TABLE OF CONTENTS
Executive Summary..............6-7
Property Overview & Snapshot.....................9
Amenities & Block Map...........................10-11
Retail Map & Aerial View........................12-13
Subway & Embassy/Consulate Map.....14-15
Property Photos........................................18-41
Floor Plans.................................................42-43
Location Overview.........................................44

EXECUTIVE SUMMARY
Rosewood Realty Group is pleased to present the opportunity to purchase 29
Beekman Place, a trophy residence currently in Bankruptcy.
The 12,000 (including basement) square foot palace is located in one of the most
historic and charming residential areas in New York City. Situated in the exclusive
and prestigious enclave of Beekman Place, the townhouse is walking distance from
the United Nations. Spread over eight floors (including basement) the beautifully
proportioned property offers open expansive Eastern and Western exposures which
give way to awe-inspiring East River Views and allow for natural sunlight to pour in
throughout the day. Designed with grand scale entertaining in mind, the garden
level features an astounding 32 foot long commercial grade chef’s kitchen while the
second floor showcases a charming reception area just off the foyer and a long
entrance gallery that leads to a lovely banquet hall. Comprised of 2 large open
living spaces with over 11 foot ceilings, and both eastern and western views, the
third floor demonstrates the truly grandiose proportions of this unique residence.
The solarium off the family room transports you to another world, and is enclosed
by three walls of glass which allow for beaming natural light and endless River
Views. In addition, there are two private terraces totaling almost 1,500 SF of
outdoor space, a true rarity in NYC.
The property features an elevator, wine cellar, Central A/C, 8 wood burning
fireplaces, 6 master suites, 11 bathrooms and 5 additional rooms which can have
any number of uses including offices, maid’s quarters or guest suites.
29 Beekman Place retains an abundance of original architectural details. Dating
back to the 1930’s, the townhouse has had only had 3 previous owners. Its size
and grandeur make it appropriate for a private mansion, Live/Work, or a
Foundation. Just blocks from the United Nations, the palatial property is ideal for a
consulate, embassy, or diplomat residence. The building was constructed in 1934
as the largest of 9 mansions along the tranquil and tree lined Beekman Place. This
exquisite house has a rich history of its own, having once been the home to the
famous William Paley as well as philanthropist Mary Lasker. Do not miss this
opportunity to purchase a piece of New York history which was originally listed at
$49,000,000 but due to its bankruptcy status is priced to sell quickly.
ASKING PRICE: $11,450,000

PROPERTY OVERVIEW
• 12,000 SF Townhouse: 10,000 above grade plus subgrade and basement
• 8 stories: 6 above grade plus subgrade and basement
• Two private terraces totaling 1,500 SF of outdoor space
• Sweeping views of the East River
• Located on the exclusive and prestigious enclave of Beekman Place
• Blocks from the United Nation
• Perfect for a Private Mansion, Live/Work, Foundation, Consulate,
Embassy, or Diplomatic Residence
PROPERTY SNAPSHOT
PROPERTY NAME
29 Beekman
PROPERTY TYPE
Residential - Townhouse
ADDRESS 29 Beekman Place, New York, NY 10002
MARKET
Midtown East
SUBMARKET
Turtle Bay
ASSESSOR PARCEL BLOCK 01361, Lot 0121
LOT SQ. FT. 2,000
LOT DIMENSIONS
20 x 100 ft
GROSS SQUARE FOOTAGE 12,000 SF, including subgrade / basement
YEAR BUILT 1910
NUMBER OF STORIES 8, including subgrade / basement
ZONING DISTRICTS R8
OWNERSHIP
Fee-Simple Interest
EXTERIOR
Brick

AMENITIES MAP
BLOCK MAP

RETAIL MAP
AERIAL VIEW

SUBWAY MAP
EMBASSY/CONSULTAE MAP

PROPERTY PHOTOS

FLOOR PLANS

LOCATION OVERVIEW
Beekman Place
Beekman Place is a small street located in the Turtle Bay neighborhood on the East Side of Manhattan, New
York City. Running from north to south for two blocks, the street is situated between the eastern end of 51st
Street and Mitchell Place, where it ends at a retaining wall above 49th Street, overlooking the glass apartment
towers at 860 and 870 United Nations Plaza, just north of the headquarters of the United Nations. [1] “Beekman
Place” also refers to the residential neighborhood that surrounds the street itself. It is named after the
Beekman family, who were influential in New York City’s development. [2]
History
The neighborhood was the site of the Beekman family mansion, Mount Pleasant, which James Beekman built
in 1765. James Beekman was a descendant of Willem Beekman, for whom Beekman Street and William Street
were named. The British made their headquarters in the mansion for a time during the American Revolutionary
War, and Nathan Hale was tried as a spy in the mansion’s greenhouse and hanged in a nearby orchard. George
Washington visited the house many times during his presidency. The Beekman family lived at Mount Pleasant
until a cholera epidemic forced them to move in 1854, but the home survived until 1874, when it was torn
down. With the surge of immigration from Europe in the late 19th and early 20th century, the Lower East Side’s
slums expanded north. The Beekman Place area’s well-off residents gave way to impoverished workers
employed in the coalyards that lined much of the East River. The neighborhood’s rehabilitation began in the
1920s, facilitated primarily by Anne Morgan of the Morgan banking family, [3] who lived slightly farther north on
Sutton Place.
Notable buildings
One Beekman Place, the 1929 co-op designed by Sloan & Robertson and Corbett, Harrison & MacMurray, is
“the most prestigious Beekman Place apartment building”. [4] It was built by a group headed by David Milton,
husband of Abby Rockefeller and son-in-law of John D. Rockefeller, Jr. Early tenants here included “Wild Bill”
Donovan of the OSS, John D. Rockefeller III, [5] Prince Aly Khan, A&P heir Huntington Hartford, and Happy
Rockefeller. The building has a lavishly tiled pool on the ground floor for the tenants, as well as a basketball
court and a small Ping-Pong table.[citation needed] In the 1950s, and perhaps for some time before and/or
after, 1 Beekman Place was the residence of the British Consul General in New York. [6]
Modernist architect Paul Rudolph designed, built, and repeatedly renovated his long-term residence at 23
Beekman Place from 1967 until shortly before his death in 1997. The architectural features of this four-level
penthouse include a slender steel skeletal structure and a stepped succession of concrete panels cantilevering
over an existing older townhouse, [7] large walls of glass with panoramic East River views, high ceilings, and
open floor plans.
In popular culture
•In Irwin Shaw’s “The Eighty Yard Run”, the main character lives here after blocking big Swedes and Poles.
•In Patrick Dennis’s novel Auntie Mame (1955) and its various adaptations, the title character lives at 3
Beekman Place.
•In Sydney Pollack’s movie The Way We Were (1973), Beekman Place symbolizes the WASPish cultural
background of Hubbell Gardiner (Robert Redford’s character) that is a continual irritant in his relationship with
the Marxist Jew Katie Morosky (played by Barbra Streisand).
•In Tom Wolfe’s novel The Bonfire of the Vanities (1987) and its movie adaptation (1990), the mayor says
of Beekman Place: “They sit in their co-ops, Park Avenue, Fifth, Beekman Place, snug like a bug. Twelve-foot
ceilings, a wing for them, one for the help.”
•In Billy Joel’s song “Close to the Borderline”, the ninth track from the album Glass Houses (1980), he writes:
“While the millionaires hide in Beekman Place, the bag ladies throw their bones in my face”.
•In Netflix’s Unbreakable Kimmy Schmidt, Kimmy becomes romantically interested in Logan Beekman, despite
being unaware of the history of his esteemed family.
References
1.^ Paul Goldberger, The City Observed: New York City—A Guide to the Architecture of Manhattan. New York: Vintage Books, 1979.
2.^ Aitken, William Benford (1912). Distinguished Families In America: Descended From Wilhelmus Beekman And Jan Thomasse Van Dyke. The Knickerbocker
Press. Retrieved August 22, 2009.
3.^ Henry, Moscow (1990) [1979]. The Street Book: An Encyclopedia of Manhattan’s Street Names and Their Origins. Fordham University Press. p. 27. ISBN
0-8232-1275-0.
4.^ http://www.cityrealty.com/nyc/beekman-sutton-place/1-beekman-place/90
5.^ Freitag, Michael (August 24, 1986). “If You’re Thinking Of Living In; Beekman Place”. The New York Times.
6.^ “New Yorker”.
7.^ “Look Alive! Paul Rudolph’s Manhattan loft at 23 Beekman Place hits the market,” The Architect’s Newspaper, December 14, 2012 Archived November 12,
2013, at the Wayback Machine

FOR MORE INFORMATION OR TO SET UP A VIEWING, PLEASE CONTACT
THE CORBIN GROUP AT ROSEWOOD REALTY:
Greg Corbin
President, Bankruptcy and Restructuring
Rosewood Realty Group
Direct: 212.359.9904
greg@rosewoodrg.com
Aaron Kline
Director
Rosewood Realty Group
Direct: 212.359.9930
aaron.kline@rosewoodrg.com
William Tavoulareas
Head Analyst
Rosewood Realty Group
Direct: 212.359.9923
william@rosewoodrg.com
Brandon Serrota
Associate
Rosewood Realty Group
Direct: 212.359.9928
brandon@rosewoodrg.com
Chaya Milworn
Associate
Rosewood Realty Group
Direct: 212.359.9936
chaya@rosewoodrg.com
Elliot Haft
Associate
Rosewood Realty Group
Direct: 212.359.9925
elliot@rosewoodrg.com
DISCLAIMER
Disclaimer: This is a confidential brochure (the “Brochure”) intended solely for your limited use and benefit
in determining whether you desire to express any further interest in the proposed sale of 29 Beekman Place.
The information contained herein, including any pro forma income and expense information (collectively, the
“Information”) is based upon assumption and projections and has been compiled or modeled from sources we
consider reliable and is based on the best available information at the time the brochure was issued. However, the
Information is subject to change and is not guaranteed as to completeness or accuracy. While we have no reason
to believe that the Information set forth in this brochure, underwriting, cash flows, valuation and other financial
information (or any Information that is subsequently provided or made available to you) contains any material
inaccuracies, no representations or warranties, express or implied, are made with respect to the accuracy or
completeness of the Information. Independent estimates of pro forma income and expenses should be developed
before any decision is made on whether to invest in the property. Summaries of any documents are not intended to
be comprehensive or all-inclusive, but rather only outline some of the provisions contained therein and are qualified
in their entirety by the actual document to which they relate. You understand that the Information is confidential
and is furnished solely for the purpose of your review in connection with a potential investment in the property.
You further understand that the Information is not to be used for any other purpose or made available to any other
person without the express written consent of Rosewood Realty Group. This offering is subject to prior placement and
withdrawal, cancellation or modification without notice.