21&23 W 26TH ST NEW YORK, NY
TWO HISTORIC ADJACENT COMMERCIAL BUILDINGS FOR SALE
ASKING PRICE: $19,000,000 21&23 W 26TH ST
PROPERTY DESCRIPTION Cushman & Wakefield has been exclusively retained to sell 21 and 23 West 26th Street, two historic adjacent office buildings in New York’s NoMad District. These side-by-side three story plus garden, penthouse and cellar buildings were designed by Thomas Stent and Peabody, Wilson & Brown and constructed in 1881 as the real estate office for brothers William Waldorf Astor and John Jacob Astor III. The Astor Family managed their immense real estate holdings out of these buildings until the elder son, Vincent Astor died and left the buildings to his daughter who was married to millionaire communist, Corliss Lamont. When Lamont died, he bequeathed it to the U.S. Communist Party to use as their headquarters in the mid-1940’s. The exteriors have remained relatively untouched since 1881 and 1922, respectively, until a penthouse addition was placed atop of No. 21 in 1991. The interiors have been renovated and restored over the last 40+ years with the addition of an elevator, central air conditioning, new kitchens and toilets, but the original tiled floors, iron stair, paneled walls, office dividers, fireplaces and even door hardware are all still intact. The buildings combine for approximately 19,045 square feet (No. 21 being 9,290± SF and No. 23 being 9,755± SF), have one elevator inside of No. 23 and are interconnected on the front entryway of the ground floor only. Both buildings contain concrete-lined, walk-in vaults with massive steel safe doors where deeds and cash were stored by the Astor’s and now safeguard archived books. The buildings are separately owned, have individual tax lots and separate mechanical systems. These Colonial Revival and Queen Anne style historic office buildings are located at the confluence of New York’s NoMad, Chelsea and Flatiron submarkets, just steps from Madison Square Park, a few blocks from Google’s headquarters and Hudson Yards and at the center of the tightest office market in the nation where TAMI tenants continue to expand and migrate. The property is currently occupied by the Writers House literary agency that will be vacating the space upon the sale of the property. This offering represents an outstanding opportunity for a company, family office, nonprofit, doctor’s office, established tech or startup, social or private club, alumni association center, art gallery or any wide array of occupiers to own two of the most remarkable and historic buildings in Manhattan. This will be the first sale of No. 21 since 1979 and No. 23 since 2005.
PROPERTY INFORMATION North side of West 26th Street Location: between Broadway and Sixth Avenue Block/Lots: 828 / 19, 20 Lot Dimensions: 50' x 98.75' (side-by-side 25’ footers) Lot Area: 4,938 SF (2,468 SF each) Stories: 3 plus garden, penthouse and cellar Combined Gross SF: 19,045 No. 21 GSF: 9,290 No. 23 GSF: 9,755 Zoning / FAR: M1-6 / 10.0 (commercial) Total Buildable Sq. Ft.: 49,375 Unused Air Rights: 30,331 Landmarked: Yes Historic District: Yes; Madison Square Park North Year Built: 1881 Real Estate Taxes: $133,466
*All square footages are approximate and should be independently verified WEST 97TH ST EAST 97TH ST
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WEST 50TH ST C E EAST 50TH ST 5TH AVENUE MADISON AVENUE AVENUE LEXINGTON 3RD AVENUE 2ND AVENUE WEST 49TH ST N R EAST 49TH ST
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7 GRAND 7 CENTRAL N Q R S B D F M 7 5 7 WEST 42ND ST EAST 42ND ST
BRYANT EAST 41ST ST PORT AUTHORITY PARK A C E WEST 40TH ST EAST 40TH ST
WEST 39TH ST EAST 39TH ST 8TH AVENUE AVENUE OF THE AMERICAS AVENUE PARK AVENUE PARK 7TH AVNUE WEST 38TH ST EAST 38TH ST 21&23 FDR RD W 26TH WESTST 37TH ST EAST 37TH ST
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WEST 35TH ST EAST 35TH ST HERALD SQUARE WEST 34TH ST EAST 34TH ST 7 N Q R W WEST 33RD ST B D F M EAST 33RD ST PENN STATION
A C E EAST 32ND ST HUDSON EMPIRE STATE BLDG YARDS
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PENN STATIONWEST 30TH ST EAST 30TH ST
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N R EAST 28TH ST EAST 27TH ST 21&23 W 26TH ST
FLATIRON BUILDING WEST 25TH ST
MADISON WEST 24TH ST SQUARE C E PARK
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THE HIGH LINE WEST 22ND ST ELEVEN MADISON AVE 1ST AVENUE 1ST LEXINGTON AVENUE LEXINGTON 2ND AVENUE WEST 21ST ST 3RD AVENUE 10TH AVENUE 9TH AVENUE 5TH AVENUE WEST 20TH ST
WEST 19TH ST CHELSEA MARKET WEST 18TH ST
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UNION WEST 16TH ST SQUARE GOOGLE PARK A C E L WEST 15TH ST
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F M L N Q R W L 5 L L WEST 13TH ST
WEST 12TH ST TRANSPORTATION WEST 11TH ST Unrivaled transportation hub with NJ Transit, LIRR, PATH, Port Authority Bus Terminal and the 23rd Street-Broadway N / Q / R, 23rd Street-Lexington Avenue 4 / 5 / 6 and the 23rd Street-EighthWEST 10TH ST Avenue F and M trains all within steps of the property.
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HISTORY OF THE HOUSES WAVERLY PL WASHINGTON • Original John Jacob Astor III and William Waldorf Astor Estate. SQUARE PARK • Side-by-side Victorian Gothic buildings built in 1881. • In 1922, Vincent Astor had redone the facade of No. 23 in a chaste, neo-Federal style. • The exterior of No. 21 has remained untouched since 1881. A metal and glass 3rd story addition constructed in 1991. • From the mid-forties until the late fifties No. 23 served as the American Communist Party’s Headquarters. During this time, the building was under surveillance by the FBI. It also suffered a series of fire bombings that shattered the bay windows on the ground floor and set the offices ablaze. • Both buildings contain concrete-lined walk-in vaults with massive steel safe doors where the Astor’s, the richest and most prominent landlords in New York at the time, stored their real estate deeds and huge rental incomes and later acted as panic rooms for the Communist Party. • No. 21 had been owned and occupied by Volitant Publishing Company which printed magazines from 1952-1979. • No. 21 was purchased in 1979 by Writers House literary agency. • No. 23 was acquired in 2001 by Writers House and the buildings were joined together on the ground floor. 21&23 W 26TH ST 21&23 W 26TH ST
FLOOR PLANS
Garden Level Ground Floor
Penthouse No.23
Second Floor Third Floor 21&23 W 26TH ST NEW YORK, NY
All inquiries should be directed to Cushman & Wakefield. No inspections of the Property are permitted unless accompanied by a representative from Cushman & Wakefield.
For More Information, Please Contact:
JOHN F. CIRAULO CRAIG M. WAGGNER MIKE KAVANAGH JP WILL 212 660 7700 212 660 7744 212 660 7765 212 660 7718 [email protected] [email protected] [email protected] [email protected]
For Financing Inquiries, Please Contact: JESSICA KE Director, Equity, Debt, & Structured Finance (212) 589-5106 [email protected]
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