New York, NY – December 17, 2018 – Cushman & Wakefield announced today that the firm has arranged the sale of 218 East 61st Street, a four-story, mixed-use property in the Treadwell Farms neighborhood of the Upper East Side. The final closing price was $6,150,000.
Cushman & Wakefield’s Will Conrad in partnership with Olshan Realty led the marketing efforts on behalf of the seller, Teri Betesh. The property was purchased by Justin Derfner.
“Working with Olshan Realty, 218 East 61st Street was a perfect example of the brokerage community working together to move a deal across the finish line,” said Will Conrad. “Due to our hyper-focused expertise of the Upper East Side market and our ability to tap into our community of resources, we were able maximize the property’s exposure and achieve the highest possible price for this unique asset.”
With a location offering a quiet escape from fast-paced Manhattan lifestyle, the property is comprised of two floors of commercial space, two floors of residential space, and a private, well-manicured rear garden. The upstairs residential portion features three bedrooms, two and a half bathrooms, and a new galley kitchen. The commercial space is perfectly suited for medical or government use, and is currently occupied by a periodontist practice, vacating this year.
218 East 61st Street has superior access to public transportation, with the 4,5,6,N,R,W,F, and Q trains serving the immediate neighborhood. The property is also blocks away from Bloomingdale’s, one of Manhattan’s world class shopping destinations, as well as ample top-tier retail, restaurant and hospitality destinations.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.