59 E 73rd Street
Exceptional opportunity to create your own fabulous single family home in the heart of the Upper East Side! This elegant five story townhouse sits on a 17.6' x 102.2' lot on 73rd Street between Park and Madison Avenues and offers 7,525 square feet. Built in 1910, seconds away from Madison and Fifth Avenue, this residence offers absolute privacy while providing easy access to Central Park, galleries, high-end boutiques and the finest restaurants. It is in the Upper East Side Historic District and is landmarked. The zoning is R8B/R10 & PL (Special Park Improvement District) and therefore allows Residential Use.
Within this 5 story townhouse, currently configured as a 10-unit condominium, there are two apartments per floor consisting of a studio (front) and a one bedroom (back). The street level studio apartment (1F) has a private gated entrance from East 73rd Street and the one bedroom (1B) has a private garden/ patio. The second floor (parlor floor) has a gracious studio apartment (2F) with very high ceilings and a one bedroom in the back (2B) that faces the serene garden/ patio below. The third floor studio apartment (3F) enjoys tree-lined views and the one bedroom (3B) has a private terrace. The fourth floor has a studio (4F) and a one bedroom (4B). The fifth floor studio receives incredible natural light (5F) and the one bedroom apartment (5B) has two skylights.
Each apartment has a renovated granite kitchen with stainless steel appliances, marble bathrooms with European style showers, and individually controlled central heating and air conditioning units. There are decorative fireplaces in a few apartment units. The building underwent an extensive "gut" renovation, including plumbing and electrical in 2007. New marble flooring in the entrance vestibule and entry hall was installed which complements the original mahogany trim, baseboards, chair rail, and wainscot. Additionally, the central stairs and floor landings were newly carpeted and illuminated by contemporary lighting. In 2017, the facade was restored and the pointing work completed at that time, and replacement of the roof and roof skylights.
59 East 73 is a great investment opportunity because, due to the current configuration, possibilities are endless for an investor:
1. The best use would be for the subject property to be converted into a single family, an opportunity to create your own fabolous home in one of the best blocks in the UES, seconds from Central Park.
2.The Subject Property can remain an investment property, where the condo units all stay rented, or each unit can be sold individually.
3. It can be converted to an owner's duplex (or triplex) with the balance staying as rental apartments or the balance of the apartments can be sold.
4. The Subject Property can also be divided into two duplexes and a simplex, or a triplex and a duplex.
5. Another possibility is converting the current 10 apartments into 5 full floor apartments, to be resold or rented.
This is a rare opportunity to become the proud owner of your own brownstone in one of America's most sought-after blocks, seconds away from Central Park.
59 East 73 has a FAR of 4, with 7,192 allowable sq. ft. *** The Actual Buildable FAR must be confirmed by conducting a property survey and by a submission to the NYC Dept. of Building and the NYC Landmark Preservation Commission. ***