37 East 83rd Street
$6,950,000
($368 per ft2)
| 20 beds, 10 baths | Approx. 18,900 ft2
160 days on Market
Key Details
-
Listed: Jun 14, 2024Last Price Change: ($545,000) on Nov 14Days on Market: 160Building Type: CooperativeNeighborhood: Carnegie Hill (Manhattan)Listing viewed 112 times
Monthly Real Estate Taxes:
$7,843
Est. Monthly Mortgage:
$36,879
Mortgage calculator
Total Est. Monthly Carrying Cost:
$44,722
($2.37/ft2)
Note: the above is based on a down payment of 20% ($1,390,000),
which is the minimum amount permitted by the building.
Insider Highlights
- Exceptional Location: Nestled in the prestigious Carnegie Hill neighborhood, just steps from Central Park and the Metropolitan Museum of Art. Enjoy the vibrant culture and elite shopping of Madison Avenue.
- Flexible Zoning: Non-landmarked status and mixed-use zoning provide unparalleled flexibility for various redevelopment options. Ideal for residential, commercial, or cultural projects.
- Spacious Interior and Lot Size: Currently configured with approximately 5,760 square feet of living space on an expansive 18' wide by 102' deep lot. Ample room for luxurious renovations and expansions.
- Comprehensive Redevelopment Package: Access a detailed zoning analysis and feasibility study prepared by Legeard Studio. Includes execution-ready budget and timeline to visualize your redevelopment vision.
- Current Configuration: Currently houses seven free-market residential units, offering immediate rental income potential. A mix of one, two, and three-bedroom apartments enhances investment appeal.
- Prime Redevelopment Opportunity: Unlock the potential of this expansive property with significant air rights, ideal for visionary buyers. Perfect for creating a luxurious single-family townhouse or a mixed-use development.
Description
Presenting a rare redevelopment opportunity at 37 East 83rd Street, a property with infinite potential, located on a picturesque tree-lined block just off Madison Avenue. This 5-story townhouse offers extraordinary opportunity for visionary buyers looking to capitalize on its vast air rights and flexible zoning.
Interested buyers can request a comprehensive redevelopment package, expertly prepared by Legeard Studio. This package includes: a detailed zoning analysis, feasibility study that outlines potential redevelopment options, execution-ready illustrative redevelopment budget & timeline, and renderings to help envision the true potential of this asset.
This property stands out as unique in the Upper East Side market, ideal for developers, investors and end-users seeking to maximize its potential.
The non-landmarked status and significant air rights make it a prime candidate for redevelopment, whether the goal is to create monumental single family townhouse, rental building, condo development, mixed-use development, school, office, cultural institution, embassy or for a range of other uses. Property Highlights: Location: In the heart of the Upper East Side, one block from Central Park and the Metropolitan Museum of Art, and surrounded by the best of Madison Avenue. Lot Size: The property boasts an expansive footprint that is 18’ wide and 102’ deep. It is currently built with approximately 5,760 square feet of interior living space. Redevelopment Potential: With an additional 12,630 square feet of unused air rights, the total buildable space reaches up to approximately 18,390 square feet. The flexible mixed-use zoning allows for a wide array of possibilities. Current Configuration: Currently configured as seven free-market residential units, including three one-bedroom apartments, one three-bedroom, one two-bedroom, and two studios. Non-Landmarked: The property is non-landmarked, and in a multiple zoning district, providing even greater flexibility for redevelopment. Delivery: The building can be delivered with the existing tenants or vacant. Property tours and redevelopment consultations are available by appointment. Additional renderings are coming soon.
Please note all renderings are for illustrative purposes only.
The non-landmarked status and significant air rights make it a prime candidate for redevelopment, whether the goal is to create monumental single family townhouse, rental building, condo development, mixed-use development, school, office, cultural institution, embassy or for a range of other uses. Property Highlights: Location: In the heart of the Upper East Side, one block from Central Park and the Metropolitan Museum of Art, and surrounded by the best of Madison Avenue. Lot Size: The property boasts an expansive footprint that is 18’ wide and 102’ deep. It is currently built with approximately 5,760 square feet of interior living space. Redevelopment Potential: With an additional 12,630 square feet of unused air rights, the total buildable space reaches up to approximately 18,390 square feet. The flexible mixed-use zoning allows for a wide array of possibilities. Current Configuration: Currently configured as seven free-market residential units, including three one-bedroom apartments, one three-bedroom, one two-bedroom, and two studios. Non-Landmarked: The property is non-landmarked, and in a multiple zoning district, providing even greater flexibility for redevelopment. Delivery: The building can be delivered with the existing tenants or vacant. Property tours and redevelopment consultations are available by appointment. Additional renderings are coming soon.
Please note all renderings are for illustrative purposes only.
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Listing courtesy of
Compass
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