The Collectors Club of New York has tapped a team from Cushman & Wakefield to find a buyer for its historic townhouse in Murray Hill.
The world-famous home for stamp collectors and collections, 22 East 35th Street was designed by architect Stanford White for the art dealer Thomas Benedict Clarke.
The Club has invested millions of dollars renovating the building, most recently in 1998 and 2015. However, shortcomings including accessibility, technology, and maintenance challenges have prompted the Club to retain Cushman & Wakefield to explore sale options.
“We have enjoyed our current home since 1937,” said the Club in a letter to members. “We fully appreciate the integral, symbolic role that this landmark plays in the identity of the Collectors Club. The building is an icon, and many members feel great affection towards it.
“This unique heritage is not something we intend to toss aside casually, but we cannot allow it to shackle us to an untenable situation.While no final decision has been taken, the Board is investigating all avenues, as diligently as possible. Concurrently with the listing for sale, we will be intensively evaluating our space needs.”
Veteran midtown broker John Ciraulo, along with Craig Waggner, Mike Kavanagh and Carri Lyon are leading marketing efforts on behalf of the Collectors Club.
According to Ciraulo, “This offering represents an outstanding opportunity to own one of the most remarkable and historic buildings in Manhattan.”
This will be the first time the property has traded hands since 1937.
The marketing team is pitching it to a wide range of occupiers, including government, medical office, nonprofit, family office, social and private clubs, alumni association centers and art galleries.
Among the important features of the neo-Georgian five-story building, which also includes a lower level and cellar, are the projecting bay window, the classically inspired entrance portico and the wrought-iron fence and gate with an arch and cage lantern.
The building offers 7,524 s/f (above grade) at the confluence of the Midtown East, Kips Bay, NoMad and Flatiron/Union Square, just a few blocks from Madison Square Park and Bryant Park.
The property would be delivered vacant as the Collectors Club board of governors is focused on securing a new location that will meet its needs now and into the future.
Among the desired features are easy turn-key access 24 hours a day, full accessibility for mobility-challenged visitors, a library on one floor, flexibility to accommodate a wide range of meetings and seminars, modern technology infrastructure, dramatic reduction in maintenance costs, and a stable and predictable cost structure.