Non-profit headquarters building for sale for the first time in 48 years….
Adelaide Polsinelli, Vice Chairman of Compass, a publicly traded, technology-driven, real estate platform, along with Meylin Maldonado, a commercial principal at Compass, have been hired to market for sale, 236 West 72nd Street. The property has served as the New York headquarters and mission house of The Metropolitan New York Baptist Association for the past 48 years.
The property is located in the Lincoln Square area of the Upper West Side Historic District, one of Manhattan’s most vibrant neighborhoods. Brimming with cultural and educational institutions, such as Lincoln Center, The Museum of Natural History, Fordham Law School, Julliard, New York Historical Society, the neighborhood is always vibrant.
It is steps away from the 72nd Street transportation hub and located midblock, on West 72nd Street, between Broadway and West End Avenues with exceptional proximity to Central Park and Riverside Park. With construction nearing completion on Parker West, a 22-story residential building, this block will continue to attract exceptional international and local attention.
The property consists of approximately 16,000+/- square feet. There is an additional 12,000 square feet of air rights. The building will be delivered vacant, offering a blank canvas for an owner-user who will appreciate the flexible zoning and multi-faceted possibilities.
“Here’s a chance to own an exclusive piece of New York,” says Meylin, who’s witnessed 72nd Streets’ transformation firsthand growing up on the UWS. “They’ve done an exceptional job preserving some of the original historic details of the building. You can even experience them still today!”
“This exceptional opportunity presents an ideal situation for multi-tenanted use as well as any combination of retail, medical, educational and office uses,” Polsinelli continued.
The building was constructed in 1927 with notable Renaissance Revival detail, by William W. Whitehall, originally built as the “New York Edison” showroom and offices.
“Fortunately, we are finally seeing signs of a strong resurgence as more businesses and organizations, including non-profits, are realizing that owning their real estate instead of leasing it, is more advantageous,” commented Polsinelli. “This is especially true today as pricing is at all-time lows. This boost in real estate activity is just what Manhattan needed to remind that investors that we are in a “once in a cycle” opportunity,” Polsinelli concluded.
About Polsinelli: With over 30 years of experience, Polsinelli has sold over 1,500 properties, valued at over $40 billion in every asset class including multifamily, retail, office, development, note sales, air rights, partnership interests, unsold shares and retail condos. She has sold over $1.5 billion in the last few years, spanning NYC, Miami, Boston, Chicago and most of the northeast corridor. Prior to joining Compass, she was a Principal at the now defunct, Eastern Consolidated.
About Compass: is a technology-driven real estate platform dedicated to creating a seamless and intelligent buying, selling, and leasing experience. Combining the country’s top agents, proprietary market insights, and integrated mobile and web technologies, Compass is developing the future of real estate decision-making. With $1.95 Billion in revenue, and $77 Billion in sales volume, Compass has 238 offices with locations in 122 markets, including New York City, Washington DC, Boston, Miami, Los Angeles, Santa Barbara, the Hamptons, and Aspen. New funding fuels international expansion, enhanced technology developments for agents and consumers. Compass was founded by Ori Allon, who sold two previous companies to Google and Twitter, and business partner Robert Reffkin, a former White House Fellow and Chief of Staff to Goldman Sachs’ President & COO.
