36 East 73rd Street New York, NY 10021 is a landmark townhouse that was first built in 1887 and later reconfigured in 1910 with the present neoclassical limestone and brick facade, which includes 5 stories and a basement, as one block away from Central Park.
Elegantly located just off a prime stretch of Madison Avenue on a charming tree-lined block, the building is zoned for both residential and multiple business classes, providing a unique opportunity to redevelop this prime 20' 87' parcel with app. 6, 730 ft of interior space and app. 500 ft of exterior, for a total including the lower level of app. 8, 070 ft of interiors.
Presently configured with 2 floors noted antique gallery with app 1, 340 ft footprint on the ground level and 1st floor, and app (Commercially zoned). 1, 340 ft of lower-level space, highlighted by prominent glass vitrines at street level; the building comes with a separate residential entrance that leads to elevator to 3 residential units (5 units total).
A large-sized elevator, designed to transport wide-ranging artworks and furniture, connects every level along with a separate staircase. The 3 upper residential floors currently contain 3 full-floor rental apartments, which can easily be combined into a sprawling triplex with roof deck or converted into other layouts.
Based upon current zoning and entitlements, the building plot comes with a total of 10, 500 ft of Air Rights, enabling 1 additional level of interior space (half floor), plus a developable roof terrace.
Adjacent to the premier stretch of high end Madison Avenue boutiques, with convenient access to the Upper East Side's premier cultural and recreational landmarks, the property benefits from robust foot traffic and efficient links to public transportation.
This elegant and adaptable property awaits new owners with a new vision to maximize its potential and underlying value.
For Residential Buyers: Possibility to transform it back to a full residential TH.
For Commercial Buyers: Possibility of building the full lot, as and additional half a floor with a terrace. .
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Our Executive Mortgage Banker:
Our Insurance Division:
$9,950,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $7,960,000 | $7,960,000 | $7,960,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.750% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.844% | 6.597% | 6.158% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $46,452 | $50,313 | $67,171 |
Total Monthly Payment | $46,577 | $50,438 | $67,296 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.