$5.2M for Building on Upper East Side Border

Ling Jiou Mountain Buddhist Society paid $5.2 million for a five-story building at 219 East 60th St.

“The building was delivered vacant which allowed for immediate occupancy and significant upside after renovation. We were able to find a user/buyer who paid a premium outside of the typical gallery and boutique profile of the neighborhood,” said Clint Olsen, executive managing director for Cushman & Wakefield, who represented the seller. Essential New York Real Estate represented the buyer.

The building includes retail space on the first two floors, and three upper floors of open floor-plan offices ideal for residential conversion. The building was also under-built, which allowed for potential extensions or expansion.

For comments, questions or concerns, please contact Bendix Anderson