One of the first townhouses built in the Murray Hill neighborhood of New York is on sale for $5.2 million and it has a unique tie to the U.S. national anthem.
The five-story property, known as the Francis Key Pendleton House, features four units. Three have one bedroom and one bathroom while the fourth on top has two bedrooms and two bathrooms, along with a private terrace.
"If I were to buy it, I would occupy the top space and rent out the others," Dylan Hoffman of Compass, the property's listing agent, said in an interview. Manhattan buyers have also been known to convert multifloor townhouses into single-family homes.
A townhouse for sale is somewhat rare in Murray Hill. High-rise living is the norm in the neighborhood, and proximity to the East River Esplanade is a major perk — especially for dog owners. Four-star restaurants and a surplus of bars make it easy to stay entertained.
Buyers typically find co-ops in older, blockier buildings on Madison, Lexington and Park avenues, where units range from $400,000 to $1 million, according to Homes.com data. Condominium units can go as low as $600,000, but in luxury buildings — both in brand-new developments and striking brick buildings from the 1980s — units start around $1 million and can go up to $9 million for penthouses.
The owner is looking to sell because she has moved to the South and will not be in New York regularly, Hoffman said. She is planning to use proceeds from this sale to purchase a new property, he said.
During her 10-plus years of owning 105 E. 35th St., the owner installed full air conditioning systems in each unit. She also added a basement with a laundry room.
These "extensive renovations to the mechanicals of the building" make the property ideal for "an investor who is taking money out of an investment and would like another investment vehicle — and this has a nice return," Hoffman said.
The townhouse's facade and hallways were painted and cleaned just before placing it on the market, he added. But the home has more than just a fresh coat of paint — it has a history that dates back to before the Civil War.
The Francis Key Pendleton House was built in 1853 — financed by New York lawyer Henry H. Butterworth and constructed by homebuilder Washington A. Cronk. The house was one of four residences Cronk made for Butterworth at the time.
"Cronk, who purchased the properties from Butterworth after completion, had difficulty selling the houses due to an economic recession that began in late 1854," New York historical records show. "Legal actions by Cronk's investors ensued, and after a series of transactions, the houses were finally sold to individual buyers. The initial purchaser of this house was Charles B. Pratt, who occupied the house until 1859. This was among the first 48 houses built in the historic district."
The home's owner changed hands a few times after Pratt vacated. One of the most noteworthy owners was lawyer Francis Key Pendleton, who was the grandson of Francis Scott Key. Francis Scott Key wrote the lyrics to "The Star-Spangled Banner," the song Americans use today to kick off professional football games, military ceremonies, orchestra concerts and other public events.