Bankruptcy Sale_305 E 61st Street New York NY__

EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
BANKRUPTCY AUCTION - United States Bankruptcy Court Southern District of New York
In Re: 305 East 61st Street Group LLC - Case # 19-11911-shl
65,000+ SQ FT - STALLED CONDO CONVERSION
14 Residential Units & 14,800+ Sq Ft Commercial Space
• 305 East 61st Street, Upper East Side, New York, NY 10065
• Former Art Storage Facility - Stalled Redevelopment Site - Substantially
Complete
• 65,000+ Sq Ft, 10-Story Elevator Building
• 6,208 Sq Ft Lot (49.5’ x 125.42’ Lot)
• 2 Blocks to MTA Lexington Ave-63rd St Station: F, M, Q, R Subway
• 3 Blocks to MTA 59th St-Lexington Ave Station: 4, 5, 6 Subway
• 1 Block to MTA M15, Q60, Q101 Bus Lines
14 Residential Units
• (5) 2 Bedroom & 2.5 Bath Half-Floor Units:
• Each Unit is 2,480 Sq Ft
• (5) 3 Bedroom & 3.5 Bath Half-Floor Units:
• Each Unit is 3,098 Sq Ft
• (3) 3 Bedroom & 3.5 Bath Full-Floor Units:
• Each Unit is 5,781 Sq Ft
• (1) 3 Bedroom & 3.5 Bath Full-Floor Penthouse Unit:
• Unit is 5,781 Sq Ft
• Large Portion of Rooftop Terrace for Exclusive Penthouse Use
14,800+ Sq Ft Commercial Space
• Currently Under Construction for International Luxury Brand AIRE Ancient
Baths New York
• Aqua Therapy Pools, Massage Therapy Rooms, Whirlpool, Steam Room,
Locker Rooms & More
• Tenant Invested a Substantial Amount of Money into the Build-out
• NNN Lease – $600,000 Annual Rent
• 15-Year Term with 4% Escalations
• Tenant has Agreed in Writing to the Above Referenced Terms - Final Lease
Pending Execution
ADDITIONAL INFORMATION
• Borough: Manhattan Block: 1436 Lot: 5
• Zoning: R8B w/C2-5 Commercial Overlay
• Fireproofed Structural Steel Frame w/Reinforced Concrete or Masonry Floors
and Roofs
• Residential Units Delivered Vacant & Commercial Space Delivered Subject to
Lease
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