37 East 83rd Street
$6,950,000
($368 per ft2)
| 20 beds, 10 baths | Approx. 18,900 ft2
191 days on Market
Key Details
-
Listed: Jun 14, 2024Last Price Change: ($545,000) on Nov 14Days on Market: 191Building Type: CooperativeNeighborhood: Carnegie Hill (Manhattan)Listing viewed 138 times
Monthly Real Estate Taxes:
$7,843
Est. Monthly Mortgage:
$36,916
Mortgage calculator
Total Est. Monthly Carrying Cost:
$44,759
($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
- Prime Redevelopment Opportunity: Unlock the potential of this non-landmarked property with significant air rights, ideal for visionary buyers. Explore diverse redevelopment options including luxury townhouses, condos, or mixed-use spaces.
- Expansive Buildable Space: With approximately 18,390 square feet of total buildable area, this property offers unparalleled flexibility for ambitious projects. The generous footprint allows for creative architectural designs.
- Desirable Upper East Side Location: Situated just off Madison Avenue, one block from Central Park and the Metropolitan Museum of Art, enjoy the vibrant cultural and social scene. Experience the charm of a picturesque tree-lined block.
- Comprehensive Redevelopment Package: Access a detailed zoning analysis and feasibility study prepared by Legeard Studio, providing insights into potential redevelopment options. Visualize your vision with execution-ready budgets and renderings.
- Flexible Mixed-Use Zoning: The property’s zoning allows for a wide array of uses, from residential to commercial, catering to diverse investment strategies. Ideal for developers looking to maximize returns.
- Current Configuration and Delivery Options: Currently configured as seven free-market residential units, the building can be delivered with existing tenants or vacant. This flexibility enhances investment appeal.
Description
**CITY OF YES REZONING ALLOWS FOR FULL USE OF AIR RIGHTS***
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. Please note all renderings are for illustrative purposes only and show the property as a multi-family and single family redevelopment, but other use cases are also permissible.
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. Please note all renderings are for illustrative purposes only and show the property as a multi-family and single family redevelopment, but other use cases are also permissible.
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Listing courtesy of
Compass
Pricing History
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