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Compass Markets Murray Hill Multifamily with View Toward Mixed-Use
Compass Vice Chairs Ronda Rogovin and Adelaide Polsinelli (pictured) have been hired to market 116 E. 37th St., an income-producing multifamily building in Murray Hill. The property contains eight free-market apartments, with the near-term potential to vacate for user occupancy. There’s also about 1,800 square feet of air rights.
“116 E. 37th is ideally located within close proximity to Grand Central Terminal and the United Nations, and would be ideal for use if converted, to a one or two-family townhouse, or as a mixed-use property to serve as the headquarters for a not-for-profit organization or for a foreign government or embassy,” said Rogovin.
Polsinelli added that a not-for-profit that bought the property for its own use would also have “the additional benefit of not being required to pay real estate taxes, perhaps the highest single expense of operating a building in New York City.”
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- ◦Sale/Acquisition
