Multifamily Property Across from St. Patrick’s Goes for $12.6M

NEW YORK—Situated across from St. Patrick’s Cathedral on Fifth Avenue, 5 East 51st Street has sold in an off-market transaction for $12.6 million. The purchaser is a corporate entity, 5 East 51st LLC.

Eastern Consolidated’s Ted Kaplan represented the seller, while Senior Director Peter Carillo procured the buyer. Steve Holm of Levy Holm Pellegrino & Drath LLP acted on behalf of the buyer in the transaction.

The property, a 14,000-sq.-ft., 14-unit residential apartment building, includes two commercial spaces of approximately 5,000 sq. ft. (combined). The elevator building comes with more than 12,000 sq. ft. of air rights. Residential space in the building is comprised of nine studios, three one-bedroom apartments and two one-bedroom penthouse apartments.

All residential units feature 13-ft. ceiling heights and oversized windows.

Located on the north side of East 51st Street, in the Fifth Avenue shopping thoroughfare, 5 East 51st Street is in close proximity to Saks Fifth Avenue and Rockefeller Center.

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