Madison Avenue building sold.

A long-term leasehold interest in The Shepherd Gallery Building at 1130 Madison Avenue has been acquired by a partnership consisting of entities controlled by Harry Chernoff and Marion Matza.

Designed by John Duncan, the designer of Grant's Tomb, the five-story elevatored townhouse is located at the northwest corner of Madison Avenue and 84th Street. Situated one block east of The Metropolitan Museum of Art, the building, known as The Lynd House, is one of six townhouses built by Robert B. Lynd, all in the same style.

The Shepherd Gallery, a dealer in 19th Century European art, has occupied the entire premises for over 30 years. The building enjoys dramatic ceiling heights on all floors and large picture and stained glass windows. There are fireplaces in most of the rooms, which are quite large in size. Many of the interior walls are covered with mahogany and other hardwoods. The floors in the building are mostly oak with unique geometric patterns.

The property at 1130 Madison Avenue enjoys 22 feet of frontage on the Avenue and 70 feet of frontage on 84th Street. Comprising approximately 7,500 square feet, the building is located within a C5-1 zone, permitting virtually all commercial and residential uses on an as-of-right basis. The property is vacant and available for net lease for retail, hotel, office, government or residential purposes.