34 west 21st street - brochure

8/9/2019 34 West 21st Street - Brochure

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SINGLE FAMILY DEVELOPMENT OPPORTUNITY

34WEST 21ST STREET

NEW YORK CITY


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Confidentiality

THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your own limited use inconsidering whether to pursue negotiations to acquire an interest in 34 West 21st Street, New

York, New York 10010 (“The Property”). The renderings and plans within are for marketing

purposes only.

This Confidential Memorandum contains brief, selected information pertaining to the business

and affairs of the Owner, and has been prepared by Massey Knakal Realty Services (“Massey

Knakal”) primarily from information supplied by the Owner. Although this Confidential

Memorandum has been reviewed by representatives of the Owner, it does not purport to be

all inclusive or to contain all of the information which a prospective purchaser may desire.

Neither Massey Knakal, nor any of their officers, employees or agents make any representation

or warranty, expressed or implied, as to the accuracy or completeness of this Confidentialmemorandum or any of its contents, and no legal liability is assumed or to be implied with

respect thereto.

By acknowledgment of your receipt of the Confidential Memorandum, you agree that the

memorandum and its contents are confidential, that you will hold and treat it in the strictest of

confidence, that you will not directly or indirectly, disclose or permit anyone else to disclose this

memorandum or its contents to any person, firm or entity without prior written authorization of

Owner, and that you will not use, or permit to be used, this memorandum or its contents in any

fashion or manner detrimental to the interest of Owner. Photocopying or other duplication is

strictly prohibited.

Owner and Massey Knakal expressly reserve the right, at their sole discretion, to reject any or

all proposals or expressions or interest in the building, and to terminate discussions with any

party at any time with or without notice.

If you do not wish to pursue negotiations leading to this acquisition, kindly return this confidential

memorandum to Massey Knakal.

This Confidential Memorandum shall not be deemed a representation of the state of affairs to

the property or constitute an indication that there has been no change in the business of affairs

or the property since the date of preparation of this memorandum.


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*Renderings are for marketing purp


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The Massey Knakal Advantage

Best Inventory

Best Territory Knowledge

Best Opportunity

On average, Massey Knakal exclusively

lists 600+ properties at any given time –

the largest inventory of properties in the New

York City metropolitan area. More buyers and

sellers choose to work with Massey Knakal

than any other firm for any size or type of

property transaction.

The Massey Knakal Territory System™ assigns

only one sales agent to represent property in a

given area, making these agents superior real

estate experts for their territory. The benefit

to you is that our agents can assist you with

making a more profitable buying decision. You

can be confident that a purchase made through

Massey Knakal will be the right decision for

your needs.

Massey Knakal treats all buyers fairly, which

means that you will always have an equal

opportunity to purchase a property. Since

Massey Knakal only handles exclusive

listings, you will be able to get accurate

property information and up-to-the-minute

status reports on the availability of all our

properties. The benefit to you is that you willnot waste valuable time tracking properties

that have already been sold. Additionally,

throughout the purchasing process, you

will always be treated with respect and

professionalism by our sales agents.


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Offering Memorandum

Asking Price:

$5,750,000

JAMES NELSON

PARTNER

[email protected]

212.696.2500 x7710

MITCHELL LEVINE

DIRECTOR OF SALES

[email protected]

212.696.2500 x7761

CRAIG WAGGNER

DIRECTOR OF SALES

[email protected]

212.696.2500 x7744

MASSEY KNAKAL REALTY SERVICES

275 MADISON AVENUE, 3RD FLOOR NEW YORK, NY

(P) 212-696-2500 (F) 212-696-0333

JOHN CIRAULO

PARTNER

[email protected]

212.696.2500 x7700

MATTHEW NICKERSON

SENIOR ASSOCIATE

[email protected]

212.660.7742


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IntroductionOverview

Property Information

Tax Map

Floor Plans

Neighborhood Description

Neighborhood Map

Transportation Maps

Renderings


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*Renderings are for marketing purposes only


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A 16.08’ wide lot located on the south side of West 21st Street between 5th and 6th

Avenues. Delivered with plans to break ground immediately on a 7-story elevatored singlefamily mansion which call for a total 8,183 SF with 6,767 SF of that being above grade.

The project, designed by architect Karl Fischer and cutting-edge interior designer Andres

Escobar, calls for a dramatic 7 story elevatored mansion with 6 bedrooms, 6 full baths, 4

powder rooms and private indoor parking. The house features include oversized windows,

ceiling heights from 10 to over 25 feet, a custom glass elevator, and private Spa.

Property Description

Location

Block/Lot

Lot Size

Lot Area

South side of West 21st Street between 5th and6th Avenues

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16.08’ x 92’ (Approx)

1,479 (Approx)

Above Grade SF

Below Grade SF

Total SF

Stories

Zoning

Historic DistrictAssessment

Est. Taxes

6,767 (As Per Plans)



7

C6-4A

Ladies Mile$306,000 (14/15)

$31,588 (14/15)

Overview

Proposed Townhouse Information

(1)The 6,767 SF Includes Infill Of Double Height Cei ling In Kitchen, Plans Call For 6,558 Sellable SF

(1)


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59

822

16.08’


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The Opportunity

34 West 21st Street is an incredible

opportunity to acquire a shovel-ready

development designed by renowned Karl

Fisher and cutting-edge interior designerAndres Escobar in one of the most exciting

and coveted neighborhoods.

As currently designed, the townhouse plans

call for a dramatic 7 story elevatored mansion

with private indoor parking and curb-cut, 6

bedrooms, 6 full baths, and 4 powder rooms.

The townhouse design features oversized

windows, ceiling heights in excess of 25 feet,

a custom glass elevator, and private Spa.

Interestingly, the former townhouse at 34

West 21st Street was the home of former

US President Chester A. Arthur for many

years. While this townhouse was lost to time

generations ago, the opportunity to create

one of the most distinct and magnificent

townhouses in the neighborhood remains.

Current ownership has painstakingly and

meticulously designed what could be one of

the most luxurious new construction single

family townhouses in the entire market. The project will be delivered with plans from

the Department of Buildings and Landmark

Preservation Commission. Not only would a

buyer benefit from the cost savings of all of

this work, which can run well into the seven

figures, but most importantly a buyer could

break ground immediately, saving the 9-14

months typically associated with securing

approved building plans.

Alternatively, zoning allows for a boutique

office building, multi-family residential,

retail, or a combination of all three uses.

Current ownership has painstakingly and meticulously designed what

could be one of the most luxurious new construction single family

townhouses in the entire market.


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Highlights/Features of

Proposed Townhouse

• One-of-a-kind, 7-storymansion with 6-bedrooms, 6 baths

and 4 powder rooms

• Indoor parking and a curb cut with

automatic glass and bronze garage

doors.

• Generous ceiling heights from 10’ to

25’

• Fully customized glass Machine-

Room-Less (MRL) Traction

Elevator

• An open staircase with floating

wood treads wrapping the glass

elevator shaft and accented with

glass railing

• Oversized windows

• Full basement with a private spafeaturing a sauna, steam room, hot

tub, and mosaic waterfall

• 3 fireplaces

• Custom wall-mounted wine cooler

• Radiant heated floors

• 4 wet bars strategically locatedthroughout the home

• Rooftop sun deck with hot tub and

outdoor shower

• Backyard terrace with waterfall

feature and built-In outdoor gas

BBQ

• 25’ kitchen ceilings, overlooking the

backyard

34 West 21st Street offers the opportunity to purchase a centrally located

development site suited for a myriad of uses. Given the explosive residential and

office growth in the area, the site can be used to accommodate either use.


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FIRST FLCELLAR


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THIRD FL

SECOND FL


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SEVENTH FLSIXTH FL


16/28rings are for marketing purposes only


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18/28rings are for marketing purposes only


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Neighborhood Description

Flatiron District

Flatiron

The Flatiron District has undergone quite

a renaissance over the past two decades to

become a premier destination for both New

York City locals and visitors looking to shop,

dine, work, or relax. The burst of activity is

reminiscent of the days when the neighbor-

hood was called Ladies’ Mile—a reference

to its Gilded Age heyday as the epicenter of

women’s retail.

Bounded by two of the city’s favorite public

spaces, Madison Square Park to the north

and Union Square to the south, the area has

become a hotbed of entrepreneurial creativ-

ity and economic growth. On the heels

of this phenomenon is the emergence of a

diverse and dynamic community of

retailers to cater to the employees of

rapidly growing businesses.

Employment Opportunities

In recent years, this micromarket has become

the “place to be” for companies in media, publishing, and technology. In fact, media

and technology have been the major sources

of job creation in New York City since the

2008 recession, surpassing all other sectors.

The Center for an Urban Future estimates

that the city’s count of over

1,000 technology startups being founded

in the 5 boroughs since 2007 is a dramatic

under representation of the true figure.

Though the dramatic spike in new firms is

expected to eventually level off, public and

private investment in accelerator programs

and business incubators continues to create

an entrepreneur-friendly environment.

Major companies like eBay and innumer-

able startups like the microblog-giant Tumblr

are located in the area, creating a vibrant

community of young, wealthy, and highly-

educated workers.

Dining

Though many of the area’s best restaurants

pre-date the neighborhood’s recent

technology and media boom, a fair share

of the newcomers owe their success to the

dramatic changes witnessed over the past

few years. Eleven Madison Park, Tom

Colicchio’s Craft, and Gramercy Tavern all

consistently rank among the best restaurants

in the city, but offer a more casually elegant

experience than the traditional restaurants of

Midtown. Mario Batali’s Eataly in the newly

renovated Toy Building has been the talk of

Considered the epicenter of the Midtown-South area of Manhattan, the property is

situated on the cusp of three defining neighborhoods, the Madison Square Park/FlatironDistrict, Union Square to the South and Gramercy Park to the East.


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the neighborhood and the broader New York

restaurant scene since its debut, serving as

part restaurant, part specialty goods shop.

Tinier, delicious locales include Aldea and

the original Madison Square Park location ofthe famous chain Shake Shack.

Nightlife

With the sharp increase in daily workers and

full-time residents, plenty of new nighttime

destinations have popped up in recent years.

230 Fifth’s rooftop is considered one of

the best bar scenes in the city, and Eataly’s

rooftop Birreria follows close behind. OliveBar at the W Hotel is routinely standing

room only and filled to the brim with stylish

20 and 30 somethings enjoying evening

drinks. The neighborhood seems to have an

endless amount of after-dark options.

Madison Square Park

The Madison Square Park Conservancy

recently raised six million dollars for capitalrenovation of the park, including $2.5 mil-

lion in private funds from corporate leaders,

such as Metropolitan Life Insurance Com-

pany, New York Life Insurance Company,

Credit Suisse First Boston, Rudin Manage-

ment, and Union Square Hospitality Group.

The Madison Square Park Conservancy has

also raised $4 million for a permanent fund

to help support maintenance of the park.

The renovation restored elements of the

park’s original 19th-century design by Ignatz

Pilat and William Grant, while helping to

make the park once again a center of neigh-

borhood life. The restored park features lush

green lawns, colorful flowering shrubs and

plants, World’s-Fair-style benches, a spec-

tacularly restored fountain, a contemporary

reflecting pool, new gateways, new paving

and ornamental lighting.

Today, Madison Square Park is at the heart

of a revitalized business district, bordered

by office buildings, retail establishments and

restaurants. The restoration of the park has

also spurred new residential development,

welcoming a new generation of young park

users.

Local Landmarks

The neighborhood’s namesake, the Flatiron

Building, sits on the edge of another local

destination, Madison Square Park. The Flat-

iron is a beautifully ornate, 1902 landmark

known for its unusually triangular shape and

is a huge draw for tourists and photographers

alike. The 6.2 acre park is the former home

of Madison Square Garden and the current

home of the original Shake Shack, creator

of the city’s favorite hamburgers. It is alsofrequently the set of large public sculptures

and a lounging area for nearby workers and

residents. It is also beset by some additional

Gilded Age structures like the Toy Center

and the New York Life Building.

Gramercy Park sits slightly east of 30 West

21st Street and offers a scenic walk through

a charming and quiet neighborhood full of

restaurants and shops. The park, however,

remains open to only those who live along

its perimeter. Union Square to the south is

one of the liveliest public spaces in all of

New York City. It is almost always full of

people relaxing or performing. Its weekend

Greenmarket is frequented by many and


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serves as a model for successful farmers

markets across the five boroughs.

Shopping

Most of the nearby retail options can be

found along 23rd Street, 14th Street, and

Sixth Avenue, and those thoroughfares are

dominated by big box names and national

brands. Many of those stores, particularly

along Sixth Avenue, are housed in beautiful

landmarked properties such as the Siegel-

Cooper Dry Goods Store, the Hugh O’Neill

Building, and the Adams and Ehrich Broth-

ers Building. They are all now home tostores such as The Container Store, TJ Maxx,

Marshalls, Bed Bath & Beyond, but at one

time housed Bergdorf Goodman, Sak’s, and

Lord & Taylor before they moved farther

uptown. Home Depot has a store on 23rd

Street. Best Buy and Nordstrom Rack both

sit on 14th Street adjacent to Union Square.

Needless to say, this tiny submarket is has

an unusual density of stores to meet every

consumer need.

Ladies’ Mile

The Ladies’ Mile is named for the popular-

ity of Broadway and part of 6th Avenue as a

major shopping district in the second half of

the 1800’s. Large cast-iron dry goods stores

opened along 6th Avenue between 18th &

23rd streets, many of which are still extant.

The city’s major department stores andluxury sellers lined Broadway from Union

Square to Madison Square, earning this

stretch of Broadway the nickname “Fashion

Street”. As office buildings and loft build-

ings moved in, the stores moved uptown.

Broadway and 5th Avenue grew into office

districts. And by 1910 a major construction

boom had changed the side streets between

Broadway & 6th Avenue into a major com-

mercial district of predominantly 12 story

loft buildings.

Conclusion

The classic architecture of the neighborhood

and serenity of the park itself add an aura of

sophistication and old world charm to the

area. Nearby trend-setting restaurants and

theaters deliver the level of cutting-edge

culture downtown residents have come to

expect, and the convenient shopping of FifthAvenue and Union Square are an added ame-

nity. For all members of this community,

convenient access to subways and busses

facilitates transportation throughout the City.

This neighborhood is both old and new, rein-

forcing Manhattan’s traditional dynamic of

reinventing itself while preserving the best

elements of its fascinating history.


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*Renderings are for marketing


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TransportationIn addition to the diversity of services and

amenities located within its parameters,

34 West 21st Street has excellent access to

major transportation modes. The Lexing-

ton Avenue mass transit subway line (with

stops at 14th, 23rd, 28th, 33rd, 42nd, 51st

and 59th Streets) provides quick access

to all Eastside midtown office addresses

and downtown without transfer. A second

subway line, the IRT, runs below 59th

Street from Queens to the Westside before

turning downtown. The area is also ser-

viced by express and local MTA buses for

southbound traffic along Second Avenueand Fifth Avenue, northbound traffic on

First Avenue, Third Avenue, and Madison

Avenue, and east/west bound along 14th,

23rd, 34th and 42nd Streets. The fare for

both the bus and subway lines is $2.50.

By car, there is easy access to and from the

Eastside by the Franklin Delano Roosevelt

Drive, the Queensboro Bridge, and the Tri-

boro Bridge. The highway transportationnetwork connects Manhattan to Westches-

ter County, Connecticut, New England,

and Long Island.

The three major metropolitan airports....

LaGuardia (approximately 20-25 minutes

drive) John F. Kennedy (approximately

30-35 minutes drive) and Newark (approx-

imately 30-35 minutes drive) are located in

the immediate Metropolitan area.

The caliber of quick access from 34 West

21st Street to local and regional business

destinations is unusual and definitely en-

hances the attractiveness of the property.


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34 west 21st street - brochure

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