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29 Beekman Place_Offering Memorandum_em

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BANKRUPTCY SALE:<br />

<strong>29</strong> BEEKMAN PLACE, NYC<br />

12,000 Sq. Ft. Trophy Residence<br />

Sweeping East River Views<br />

Blocks from the United Nations


TABLE OF CONTENTS<br />

Executive Summary..............6-7<br />

Property Overview & Snapshot.....................9<br />

Amenities & Block Map...........................10-11<br />

Retail Map & Aerial View........................12-13<br />

Subway & Embassy/Consulate Map.....14-15<br />

Property Photos........................................18-41<br />

Floor Plans.................................................42-43<br />

Location Overview.........................................44


EXECUTIVE SUMMARY<br />

Rosewood Realty Group is pleased to present the opportunity to purchase <strong>29</strong><br />

<strong>Beekman</strong> <strong>Place</strong>, a trophy residence currently in Bankruptcy.<br />

The 12,000 (including bas<strong>em</strong>ent) square foot palace is located in one of the most<br />

historic and charming residential areas in New York City. Situated in the exclusive<br />

and prestigious enclave of <strong>Beekman</strong> <strong>Place</strong>, the townhouse is walking distance from<br />

the United Nations. Spread over eight floors (including bas<strong>em</strong>ent) the beautifully<br />

proportioned property offers open expansive Eastern and Western exposures which<br />

give way to awe-inspiring East River Views and allow for natural sunlight to pour in<br />

throughout the day. Designed with grand scale entertaining in mind, the garden<br />

level features an astounding 32 foot long commercial grade chef’s kitchen while the<br />

second floor showcases a charming reception area just off the foyer and a long<br />

entrance gallery that leads to a lovely banquet hall. Comprised of 2 large open<br />

living spaces with over 11 foot ceilings, and both eastern and western views, the<br />

third floor d<strong>em</strong>onstrates the truly grandiose proportions of this unique residence.<br />

The solarium off the family room transports you to another world, and is enclosed<br />

by three walls of glass which allow for beaming natural light and endless River<br />

Views. In addition, there are two private terraces totaling almost 1,500 SF of<br />

outdoor space, a true rarity in NYC.<br />

The property features an elevator, wine cellar, Central A/C, 8 wood burning<br />

fireplaces, 6 master suites, 11 bathrooms and 5 additional rooms which can have<br />

any number of uses including offices, maid’s quarters or guest suites.<br />

<strong>29</strong> <strong>Beekman</strong> <strong>Place</strong> retains an abundance of original architectural details. Dating<br />

back to the 1930’s, the townhouse has had only had 3 previous owners. Its size<br />

and grandeur make it appropriate for a private mansion, Live/Work, or a<br />

Foundation. Just blocks from the United Nations, the palatial property is ideal for a<br />

consulate, <strong>em</strong>bassy, or diplomat residence. The building was constructed in 1934<br />

as the largest of 9 mansions along the tranquil and tree lined <strong>Beekman</strong> <strong>Place</strong>. This<br />

exquisite house has a rich history of its own, having once been the home to the<br />

famous William Paley as well as philanthropist Mary Lasker. Do not miss this<br />

opportunity to purchase a piece of New York history which was originally listed at<br />

$49,000,000 but due to its bankruptcy status is priced to sell quickly.<br />

ASKING PRICE: $11,450,000


PROPERTY OVERVIEW<br />

• 12,000 SF Townhouse: 10,000 above grade plus subgrade and bas<strong>em</strong>ent<br />

• 8 stories: 6 above grade plus subgrade and bas<strong>em</strong>ent<br />

• Two private terraces totaling 1,500 SF of outdoor space<br />

• Sweeping views of the East River<br />

• Located on the exclusive and prestigious enclave of <strong>Beekman</strong> <strong>Place</strong><br />

• Blocks from the United Nation<br />

• Perfect for a Private Mansion, Live/Work, Foundation, Consulate,<br />

Embassy, or Diplomatic Residence<br />

PROPERTY SNAPSHOT<br />

PROPERTY NAME<br />

<strong>29</strong> <strong>Beekman</strong><br />

PROPERTY TYPE<br />

Residential - Townhouse<br />

ADDRESS <strong>29</strong> <strong>Beekman</strong> <strong>Place</strong>, New York, NY 10002<br />

MARKET<br />

Midtown East<br />

SUBMARKET<br />

Turtle Bay<br />

ASSESSOR PARCEL BLOCK 01361, Lot 0121<br />

LOT SQ. FT. 2,000<br />

LOT DIMENSIONS<br />

20 x 100 ft<br />

GROSS SQUARE FOOTAGE 12,000 SF, including subgrade / bas<strong>em</strong>ent<br />

YEAR BUILT 1910<br />

NUMBER OF STORIES 8, including subgrade / bas<strong>em</strong>ent<br />

ZONING DISTRICTS R8<br />

OWNERSHIP<br />

Fee-Simple Interest<br />

EXTERIOR<br />

Brick


AMENITIES MAP<br />

BLOCK MAP


RETAIL MAP<br />

AERIAL VIEW


SUBWAY MAP<br />

EMBASSY/CONSULTAE MAP


<strong>29</strong> BEEKMAN ORIGINAL ASK: $49,000,000 21 BEEKMAN SALE: $35,000,000 ($4,844 / SF)


PROPERTY PHOTOS


FLOOR PLANS


LOCATION OVERVIEW<br />

<strong>Beekman</strong> <strong>Place</strong><br />

<strong>Beekman</strong> <strong>Place</strong> is a small street located in the Turtle Bay neighborhood on the East Side of Manhattan, New<br />

York City. Running from north to south for two blocks, the street is situated between the eastern end of 51st<br />

Street and Mitchell <strong>Place</strong>, where it ends at a retaining wall above 49th Street, overlooking the glass apartment<br />

towers at 860 and 870 United Nations Plaza, just north of the headquarters of the United Nations. [1] “<strong>Beekman</strong><br />

<strong>Place</strong>” also refers to the residential neighborhood that surrounds the street itself. It is named after the<br />

<strong>Beekman</strong> family, who were influential in New York City’s development. [2]<br />

History<br />

The neighborhood was the site of the <strong>Beekman</strong> family mansion, Mount Pleasant, which James <strong>Beekman</strong> built<br />

in 1765. James <strong>Beekman</strong> was a descendant of Will<strong>em</strong> <strong>Beekman</strong>, for whom <strong>Beekman</strong> Street and William Street<br />

were named. The British made their headquarters in the mansion for a time during the American Revolutionary<br />

War, and Nathan Hale was tried as a spy in the mansion’s greenhouse and hanged in a nearby orchard. George<br />

Washington visited the house many times during his presidency. The <strong>Beekman</strong> family lived at Mount Pleasant<br />

until a cholera epid<strong>em</strong>ic forced th<strong>em</strong> to move in 1854, but the home survived until 1874, when it was torn<br />

down. With the surge of immigration from Europe in the late 19th and early 20th century, the Lower East Side’s<br />

slums expanded north. The <strong>Beekman</strong> <strong>Place</strong> area’s well-off residents gave way to impoverished workers<br />

<strong>em</strong>ployed in the coalyards that lined much of the East River. The neighborhood’s rehabilitation began in the<br />

1920s, facilitated primarily by Anne Morgan of the Morgan banking family, [3] who lived slightly farther north on<br />

Sutton <strong>Place</strong>.<br />

Notable buildings<br />

One <strong>Beekman</strong> <strong>Place</strong>, the 19<strong>29</strong> co-op designed by Sloan & Robertson and Corbett, Harrison & MacMurray, is<br />

“the most prestigious <strong>Beekman</strong> <strong>Place</strong> apartment building”. [4] It was built by a group headed by David Milton,<br />

husband of Abby Rockefeller and son-in-law of John D. Rockefeller, Jr. Early tenants here included “Wild Bill”<br />

Donovan of the OSS, John D. Rockefeller III, [5] Prince Aly Khan, A&P heir Huntington Hartford, and Happy<br />

Rockefeller. The building has a lavishly tiled pool on the ground floor for the tenants, as well as a basketball<br />

court and a small Ping-Pong table.[citation needed] In the 1950s, and perhaps for some time before and/or<br />

after, 1 <strong>Beekman</strong> <strong>Place</strong> was the residence of the British Consul General in New York. [6]<br />

Modernist architect Paul Rudolph designed, built, and repeatedly renovated his long-term residence at 23<br />

<strong>Beekman</strong> <strong>Place</strong> from 1967 until shortly before his death in 1997. The architectural features of this four-level<br />

penthouse include a slender steel skeletal structure and a stepped succession of concrete panels cantilevering<br />

over an existing older townhouse, [7] large walls of glass with panoramic East River views, high ceilings, and<br />

open floor plans.<br />

In popular culture<br />

•In Irwin Shaw’s “The Eighty Yard Run”, the main character lives here after blocking big Swedes and Poles.<br />

•In Patrick Dennis’s novel Auntie Mame (1955) and its various adaptations, the title character lives at 3<br />

<strong>Beekman</strong> <strong>Place</strong>.<br />

•In Sydney Pollack’s movie The Way We Were (1973), <strong>Beekman</strong> <strong>Place</strong> symbolizes the WASPish cultural<br />

background of Hubbell Gardiner (Robert Redford’s character) that is a continual irritant in his relationship with<br />

the Marxist Jew Katie Morosky (played by Barbra Streisand).<br />

•In Tom Wolfe’s novel The Bonfire of the Vanities (1987) and its movie adaptation (1990), the mayor says<br />

of <strong>Beekman</strong> <strong>Place</strong>: “They sit in their co-ops, Park Avenue, Fifth, <strong>Beekman</strong> <strong>Place</strong>, snug like a bug. Twelve-foot<br />

ceilings, a wing for th<strong>em</strong>, one for the help.”<br />

•In Billy Joel’s song “Close to the Borderline”, the ninth track from the album Glass Houses (1980), he writes:<br />

“While the millionaires hide in <strong>Beekman</strong> <strong>Place</strong>, the bag ladies throw their bones in my face”.<br />

•In Netflix’s Unbreakable Kimmy Schmidt, Kimmy becomes romantically interested in Logan <strong>Beekman</strong>, despite<br />

being unaware of the history of his este<strong>em</strong>ed family.<br />

References<br />

1.^ Paul Goldberger, The City Observed: New York City—A Guide to the Architecture of Manhattan. New York: Vintage Books, 1979.<br />

2.^ Aitken, William Benford (1912). Distinguished Families In America: Descended From Wilhelmus <strong>Beekman</strong> And Jan Thomasse Van Dyke. The Knickerbocker<br />

Press. Retrieved August 22, 2009.<br />

3.^ Henry, Moscow (1990) [1979]. The Street Book: An Encyclopedia of Manhattan’s Street Names and Their Origins. Fordham University Press. p. 27. ISBN<br />

0-8232-1275-0.<br />

4.^ http://www.cityrealty.com/nyc/beekman-sutton-place/1-beekman-place/90<br />

5.^ Freitag, Michael (August 24, 1986). “If You’re Thinking Of Living In; <strong>Beekman</strong> <strong>Place</strong>”. The New York Times.<br />

6.^ “New Yorker”.<br />

7.^ “Look Alive! Paul Rudolph’s Manhattan loft at 23 <strong>Beekman</strong> <strong>Place</strong> hits the market,” The Architect’s Newspaper, Dec<strong>em</strong>ber 14, 2012 Archived Nov<strong>em</strong>ber 12,<br />

2013, at the Wayback Machine


FOR MORE INFORMATION OR TO SET UP A VIEWING, PLEASE CONTACT<br />

THE CORBIN GROUP AT ROSEWOOD REALTY:<br />

Greg Corbin<br />

President, Bankruptcy and Restructuring<br />

Rosewood Realty Group<br />

Direct: 212.359.9904<br />

greg@rosewoodrg.com<br />

Aaron Kline<br />

Director<br />

Rosewood Realty Group<br />

Direct: 212.359.9930<br />

aaron.kline@rosewoodrg.com<br />

William Tavoulareas<br />

Head Analyst<br />

Rosewood Realty Group<br />

Direct: 212.359.9923<br />

william@rosewoodrg.com<br />

Brandon Serrota<br />

Associate<br />

Rosewood Realty Group<br />

Direct: 212.359.9928<br />

brandon@rosewoodrg.com<br />

Chaya Milworn<br />

Associate<br />

Rosewood Realty Group<br />

Direct: 212.359.9936<br />

chaya@rosewoodrg.com<br />

Elliot Haft<br />

Associate<br />

Rosewood Realty Group<br />

Direct: 212.359.9925<br />

elliot@rosewoodrg.com<br />

DISCLAIMER<br />

Disclaimer: This is a confidential brochure (the “Brochure”) intended solely for your limited use and benefit<br />

in determining whether you desire to express any further interest in the proposed sale of <strong>29</strong> <strong>Beekman</strong> <strong>Place</strong>.<br />

The information contained herein, including any pro forma income and expense information (collectively, the<br />

“Information”) is based upon assumption and projections and has been compiled or modeled from sources we<br />

consider reliable and is based on the best available information at the time the brochure was issued. However, the<br />

Information is subject to change and is not guaranteed as to completeness or accuracy. While we have no reason<br />

to believe that the Information set forth in this brochure, underwriting, cash flows, valuation and other financial<br />

information (or any Information that is subsequently provided or made available to you) contains any material<br />

inaccuracies, no representations or warranties, express or implied, are made with respect to the accuracy or<br />

completeness of the Information. Independent estimates of pro forma income and expenses should be developed<br />

before any decision is made on whether to invest in the property. Summaries of any documents are not intended to<br />

be comprehensive or all-inclusive, but rather only outline some of the provisions contained therein and are qualified<br />

in their entirety by the actual document to which they relate. You understand that the Information is confidential<br />

and is furnished solely for the purpose of your review in connection with a potential investment in the property.<br />

You further understand that the Information is not to be used for any other purpose or made available to any other<br />

person without the express written consent of Rosewood Realty Group. This offering is subject to prior plac<strong>em</strong>ent and<br />

withdrawal, cancellation or modification without notice.

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