Rare and wonderful 21.5-foot, 5-story Cushman Row townhouse in the classic Greek Revival style on Chelsea's premier Seminary block, will be offered for the first time in forty years. Described by the Landmark Preservation Commission in its historic district designation report as one of the most splendid and best preserved uniform rows of townhouses in New York City, ranking with the Greek Revival row on the northeast corner of Washington Square, this handsome townhouse is the best preserved of the seven houses built by Don Alonzo Cushman in 1839-40 for his daughters. It retains all its distinctive features, including a deep 46' south-facing rear garden, the 10' front garden enriched with cast iron candelabrum-type newel posts crowned with pineapples, and richly wrought iron railings on the stoop and yard with a Greek fret pattern at the base, lyre-shaped panels and palmetto crests. The attic windows, set in a wide fascia board ornamented with dentils and bead and reel moldings, are encircled with laurel wreaths. Other elements typical of the style are the six-over-six windows, molded lintels, well proportioned entablatures on Doric pilasters over the door with transom above, and the single paneled door trimmed with egg and dart and bead and reel moldings. Recent improvements include: a new roof (2011); new Con Edison electric and gas mains (2010-2011); new gas-fired furnace and hot water heater (2009); re-pointed facade and restored brownstone stoop, lintels, sills and cornice (2007), all to LPC specifications; restored and re-painted wrought iron railings and newel posts (the only complete set on the block); new Landmark-approved double-glazed, argon-filled Pella windows installed in dormers, the front facade and 3rd and 4th floors on the garden side (2004-2011). The interiors, while in need of updating and renovation, have been lovingly maintained in pristine condition, retaining all their major architectural details, including stunning Greek Revival moldings and pilasters on the parlor floor; beautiful parquet floors with figured borders; original marble mantelpieces; interior window shutters throughout; and classic room layouts and proportions (each with its original hall entry door), making the house an ideal candidate for re-conversion to single-family status. Currently a 5-family house with 3 market rentals through March 2013 and an owner's garden duplex, all delivered vacant, the house will be shown twice this fall on October 3rd and 10th, 12 to 4 p.m., BY APPOINTMENT ONLY.

416 West 20th Street
New York, NY 10011

Location: Chelsea Historic District, between Ninth and Tenth Avenues, one block from High Line
Block/Lot: 717/52
C of O: 5-family, owner occupied. Owner occupies garden and parlor apartments
Zoning: R7-2
Lot Size: 21.5’ x 104’; built 42’ + 6’ extension (48’) on garden and parlor levels; 46’ rear garden
Stories: 5 stories + basement
Est. Gross SF: 4,773 (not including basement)
Asking Price: $5,750,000.

Per the Landmark Preservation Commission’s Designation Report of 1970: Nos. 406-418, a handsome row of Greek Revival houses, was built in 1839-40 for Don Alonzo Cushman and is known locally as '"Cushman Row". It is one of the most splendid and best preserved uniform r¬ows of town houses in New York City. Simpler, but as carefully designed, it nonetheless ranks with the row at the northeast corner of Washington Square.” See pp.9-10 of the Chelsea Historic District Designation Report: http://www.nyc.gov/html/lpc/downloads/pdf/reports/CHELSEA_HISTORIC_DISTRICT.pdf

West 20th Street between Ninth and Tenth Avenues, known as the Seminary block, was rated #3 in all of New York City in Time Out’s 2006 article on the City’s 50 best residential blocks. It is considered the best of the two Seminary blocks and the finest location in Chelsea.

No 416 is the best preserved of the seven houses and retains all its distinctive features including the 10’ front garden enriched with cast iron candelabrum-type newel posts, an amalgam of Greek motifs crowned with pineapples, richly wrought iron hand railings on the stoop and yard railings with a Greek fret pattern at the base, palmettoes as crestings and panels of lyre-shaped pattern flanking the gateway's, a design also used at the northeast corner of Washington Square. The attic windows, set in a wide fascia board ornamented with dentils and bead and reel moldings, are encircled with laurel wreaths. The six-over-six windows, molded lintels, well- proportioned entablatures on Doric pilasters over the doors, the transom above the doors, and the one-paneled door trimmed with egg and dart and bead and reel moldings, are also typical of the best elements to be found in the Greek Revival style.

Rental Income Per Month PerAnnum
Current/Market Current/Market
Unit #1 – Garden Floor (1BR w/kit)* $ -0-/$ $ -0- /$
Unit #1 – Parlor Floor (w/solarium)* -0- /9,500 -0- /114,000
Unit #2 – Second Floor (1BR w/terr.) 3,900/ 4,200 46,800/ 50,400
Unit #3 – Third Floor (2BR) 3,900/ 4,200 46,800/ 50,400
Unit #4 – Fourth Floor (2BR w/terr.) 4,000/ 4,000 48,000/ 48,000
Totals $11,800/$21,900 $141,600/$262,800

* All rents are market , although with renovation, they will be higher.. At the present time #1 is legally two separate units (Garden and Parlor; here showing income for both units together, probably better value as a garden/parlor duplex, its current use, than as 2 separate units)

Annual Expenses (actual 2011-12)
Real Estate taxes (2012 annual) $38,513
Water & sewer (metered) 1,000
Gas-fired heating/hot water 4,075
Electric for same ( includes charges for parlor and
garden units and bldg.; tenants pay own gas & elect,
metered separately 1,163

Miscellaneous Expenses (all minor repairs & painting
done by owner - decorations, foyer, landings,
holidays $917/supplies - paint, garbage bags,
cleaning supplies $,250) 3,167
Insurance (paid every 3 years @ $11,686/no insurance claims in 42 years) 3,891
Totals $51,809

Improvements
New electric main connected to house, paid for by Con Ed in 2010; new gas main paid for by Con Ed 2011
New gas-fired furnace & hot water heater Dec. 2009
New roof 2011(re-surfaced rather than complete replacement)
New Pella double glazed, argon-filled windows in dormers, 2004; same to 2nd & 3rd floors on street & garden sides, plus BSMT & 1st floor facade 2006
Facade repointed, brownstone steps, lintels, sills & cornice restored to landmarks specifications 2007 (steps need a touch up); newel posts restored (only complete examples on the block); period iron railings repainted
While the interior needs renovation and updating, owner has maintained the house in pristine condition; all major architectural details are in tact, including handsome Greek Revival moldings on the parlor floor, original fireplace mantels throughout and original room layouts (each room retains its original proportions and hall entry door), making the house an ideal candidate for re-conversion to single-family use.

Other Information
No outstanding violations No loans or mortgages All taxes & expenses up to date
It is probable that the Landmarks Preservation Commission would readily approve the extension of the back porch/ garden side to 12 feet (extension is now 6 feet). This would create the same rear extension as 418 W 20 (LPC-approved 2 years ago), making larger solarium or new kitchen on the parlor and a larger terrace on 3rd floor. This would add appx 540 sq ft to garden side of garden & parlor floors combined (adding significantly to the overall value of first 3 floors)