24 Jan, 2021
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Cushman & Wakefield has been retained on an exclusive basis to arrange the sale of a 25’ wide, five-story mixed-use building located at 958 Madison Avenue in the Upper East Side. The property is located on the west side of the luxury Madison Avenue retail corridor between 75th and 76th Streets.
The first three floors of the property contain three full-floor commercial units, with the first-floor unit having an additional 1,200 square feet of below grade space. The first-floor commercial unit is leased through January 2022 to LIK Fine Art and is utilized as an art gallery. Additionally, this tenant is responsible to pay 60% of the annual real estate taxes. The second-floor unit is leased through August 2022 to Fashionphile - a leader in the high-end consignment market for luxury handbags. The third-floor unit is office / gallery space leased through December 2024.
The residential breakdown of the property consists of four 1-bedroom units, of which three units are free market and one is rent stabilized.
The acquisition of 958 Madison Avenue presents an investor or user with the rare opportunity to own / occupy a property in one of the most prestigious retail corridors in all New York City. Neighboring tenants include major luxury retailors such as Carolina Herrera, Lafayette 148, Mykita, Pat Areias, Alexandre Birman, Ann Ahn, Gianvito Rossi and Aquatalia.
FREQUENTLY ASKED QUESTIONS
What is the total square footage of 958 Madison Avenue, New York, NY 10065?
958 Madison Avenue, New York, NY 10065 totals 9,738 square feet.
When was this property built?
958 Madison Avenue, New York, NY 10065 was built in 1910.