The 13-story building at 211 East 51st Street is under contract to be sold by Uned Associates LLC of which Unni Edelman is president.
The white-brick building was erected in 1958 and contains about 85 rental apartments.
The property was being offered by Eastern Consolidated with an asking price of $42,500,000, which includes the 76,500-square-foot existing building and approximately 10,000 square feet of the building's unused and developable air rights.
In conjunction with the offering, preliminary architectural plans were developed for the conversion of the building into condominiums with a new facade and added floors.
Peter Hausburg of Eastern Consolidated, however, indicated to CityRealty.Com today that the buyer now in contract for the property most likely will not dramatically alter the building, but would convert it to condominiums.
The building has two retail spaces with a total of about 5,000 square feet that are now vacant and a third space of about 4,500 square feet that is leased to a spa in the basement. Mr. Hausburg said that a studio apartment has been committed to an existing tenant, but added that this arrangement could be "mitigated."
The mid-block building has discrete air-conditioners, some terraces and some angled corner windows.
The white-brick building was erected in 1958 and contains about 85 rental apartments.
The property was being offered by Eastern Consolidated with an asking price of $42,500,000, which includes the 76,500-square-foot existing building and approximately 10,000 square feet of the building's unused and developable air rights.
In conjunction with the offering, preliminary architectural plans were developed for the conversion of the building into condominiums with a new facade and added floors.
Peter Hausburg of Eastern Consolidated, however, indicated to CityRealty.Com today that the buyer now in contract for the property most likely will not dramatically alter the building, but would convert it to condominiums.
The building has two retail spaces with a total of about 5,000 square feet that are now vacant and a third space of about 4,500 square feet that is leased to a spa in the basement. Mr. Hausburg said that a studio apartment has been committed to an existing tenant, but added that this arrangement could be "mitigated."
The mid-block building has discrete air-conditioners, some terraces and some angled corner windows.
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Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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