Landmarked Manhattan commercial townhouse sold for $11 million

New York, August 12, 2024 – JLL today announced the sale of 12 East 53rd St., a distinguished six-story landmarked commercial townhouse in Manhattan's Plaza District with a storied past.

JLL was exclusively retained to market the property by the seller, Laboratory Institute of Merchandising College (LIM College), a school focused on education in business, fashion and lifestyle that currently occupies the building. The sale price was $11 million.

Located on the south side of East 53rd Street between Fifth and Madison avenues in Midtown East, 12 East 53rd St. is known as Fisk-Harkness House. It was initially constructed in 1871 for Charles Moran, but gained its name from subsequent owners, Harvey Fisk and William L. Harkness. Fisk, a prominent banker and philanthropist, purchased the house in 1905 and commissioned extensive renovations. In 1909, the property was purchased by William L. Harkness, an heir to the Standard Oil fortune.

The building’s Tudor-inspired Gothic Revival style earned it a landmark designation from the City of New York in 2012. It’s flexible zoning permits retail, office, hotel and residential use. Offering a total of 25,000 rentable square feet, the property has hosted numerous significant events over the years, including a League of Nations luncheon, and was used as an art gallery and headquarters for the Automobile Club of America.

The JLL Capital Markets team that handled the sale was led by Managing Directors Guthrie Garvin and Clint Olsen. “The Fish-Harkness House boasts a coveted location and versatile zoning that enables a number of potential uses,” said Garvin.

Steps away from Fifth Avenue, a world-renowned retail corridor with high pedestrian traffic, Fish-Harkness House is surrounded by iconic neighborhood landmarks and luxury retail offerings. The Plaza District is also known for its first-class amenities, including high-end dining options, access to Central Park and numerous public spaces.

The property provides close proximity to transportation, with the E and M trains located a minute away at the corner of Fifth Avenue and 53rd Street, and additional subway lines (4, 5, 6, B, D, F, M, 1, 2, 3) all within a short walk.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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