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Lexington Ave. MXU Goes on the Block
Cushman & Wakefield has been retained to market The Parge House, a five-story mixed-use building at 866 Lexington Ave. on Manhattan’s Upper East Side, with an asking price of $12 million. A Cushman & Wakefield team, including Guthrie Garvin, Michael Gembecki and Alexander Ball, will lead the marketing efforts on behalf of the seller.
“The site presents purchasers with multiple options, including the opportunity to live in the beautiful triplex or the potential to expand the retail component to the second floor, taking further advantage of the property’s corner location in a strong retail corridor,” said Garvin.
The Parge House features two currently occupied commercial units on the ground floor. Its residential component includes a 3,375-square-foot owner’s triplex with an outdoor terrace, and a total of three free-market units on the fourth and fifth floors above. The building features 14,697 gross buildable square feet, and 7,557 square feet of air rights.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
