Eastern Consolidated Arranges Sale of Historic Hamilton-Holly Town House in the East Village for $10 million
NEW YORK, NY — April 27, 2016 — Eastern Consolidated has arranged the $10 million sale of the landmarked Hamilton-Holly House at 4 St. Mark’s Place, whose historic lineage can be traced to its first owner in 1833, the son of Founding Father Alexander Hamilton.
Ron Solarz, Executive Managing Director and Principal of Eastern Consolidated, and Nataliya Stelmakh, Director, represented the owner, a private real estate investor. Solarz procured the buyer, Castellan Real Estate Partners. Gary Meese, Senior Director of Financial Services, served as the analyst for the deal. To market the building’s retail space, Castellan has named James Famularo, Senior Director and Principal at Eastern Consolidated as the exclusive retail leasing broker.
“This five-story, 10,000-square-foot mixed-use property is being delivered vacant so it is in effect a blank canvas, offering the buyer a unique opportunity to renovate the building and realize a tremendous amount of upside,” Solarz said.
Solarz said the property currently offers four free market apartments and 5,668 square feet of retail space on the first floor and lower level. Legendary vintage clothing store Trash & Vaudeville leased the retail space from 1975 until recently when the shop moved to another site.
“The location and neighborhood demographics make the property ideal for both retail and residential use,” Stelmakh said. “It’s situated on a block with significant foot traffic and surrounded by major colleges and universities where nearly 55,000 students attend classes.”
The St. John’s University campus is located in a newly constructed 400,000-square-foot mixed-use office and retail development at 51 Astor Place, which is anchored by TAMI and financial services tenants including IBM. In addition, Cooper Union has completed construction on its state-of-the art engineering building, which includes a prominent retail space at the northeast corner of East 6th Street, and a new 17-story dormitory built on the east side of Third Avenue between St. Mark’s Place and Stuyvesant Street. New York University and the New School are a few blocks from the property.
Famularo added, “We’re excited to be working on such a historically significant building that will be restored to its original grandeur. At Eastern Consolidated we’ve been very active on St. Mark’s Place and have arranged retail leases for Mamoun’s and Caffé Bene and are working on several other projects on the block in addition to 4 St. Mark’s Place.”
The neighborhood includes a wide array of hip restaurants and retail shops, and is conveniently located within blocks of the 6 train at Astor Place, the R and N trains at 8th Street, and the L at 3rd Avenue and 14th Street.
The building’s history is significant, as the property’s first residents were members of Alexander Hamilton’s family. Hamilton’s son, Col. Alexander Hamilton, bought 4 St. Mark’s Place and shared it with his wife, Eliza, his widowed mother, Elizabeth Schuyler Hamilton, her daughter Eliza Hamilton Holly, and son-in-law Sidney.
The Hamilton-Holly House also is one of the rare surviving and significantly intact large Manhattan townhouses of the Federal period. It was designated a New York City landmark in 2004.
In the 1950s and 1960s, a number of cutting-edge performance art venues were located in the building including the Bridge Theater, which hosted the likes of Yoko Ono, The Fugs, and the Bread and Puppet Theater.
Powered by a highly skilled team of 84 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types. For more information, visit www.easternconsolidated.com and follow us on Twitter@EasternConsol.
Back to news list