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East Side building sold.

In an all cash transaction valued at $3.9 million, Massey Knakal Realty Services, Inc. has arranged the sale of 170 East 70th Street. The property was the second property sold this year by The Birch Wathen Lenox School who has expanded into a new facility on East 77th Street. In June, Birch Wathen also sold 154 East 70th Street for $2.6 million. The New York School for Interior Design plans to move to 70th Street from their current location on East 56th Street where they have been a tenant for many years. Edward J. Winslow, vice president of Massey Knakal Realty Services, Inc., represented The Birch Wathen Lenox School in both of these recent sales.

170 East 70th Street was originally constructed as a horse stable in 1901-1902 by Architect C.P. Gilbert for Daniel G. Reid replacing three 1870's rowhouses. The structure, measuring approximately 25,000 square feet, is 58 feet wide and four stories tall and also has a full usable basement. In 1925 the property was converted to a school and eventually purchased by The Lenox School which merged with the Birch Wathen School in 1989.

Winslow stated that, "interest and" competition was fierce for this building.

There are a very limited number of properties in this size range with an appropriate Certificate of Occupancy for school use," he said."
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Title Annotation:Massey Knakal Realty Services Inc. sells commercial building at 170 East 70th Street, New York, New York
Publication:Real Estate Weekly
Date:Sep 1, 1993
Words:225
Previous Article:Law firm expands space.
Next Article:Unsold units scooped up via re-offer/bulk sale.
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