One of a Kind 3-4 Bedroom Under $2.5MM. Dont wait.
Unusual opportunity to purchase a thoughtfully combined, meticulously renovated, functional and tranquil space. This sprawling corner 2,330 sf apartment on the 11th floor-- with South, East, and North exposures and generous common areas and usable space -- features 3 bedrooms, 4 bathrooms and many oversized windows. The South-facing, 35' wide living/dining room has dark oak floors and a wall of 10 windows (with glass sliding door) which face and open on to a 23' long balcony. The contemporary windowed kitchen with East morning light has good storage, a 6' pass-through bar, stone countertops, stainless steel appliances and custom cabinetry. Thoughtfully executed luxurious Master bedroom Suite, in its own private "West Wing" has 2 customized, spa-like ensuite baths (one of which is windowed and refreshing), a massive walk-through closet, a second walk-in closet and yet another South- facing balcony. Beyond the master is a separate windowed South- facing home office. The other wing has two bedrooms, each with their own contemporary ensuite bath and also has a conveniently located separate laundry room with sink, washer/dryer, and storage. A detailed floorplan is included for your study. Carefully built-out, well-maintained, freshly painted and just vacated by seller.
Note 1: The maintenance is a bit higher than usual at $6,685.20 per month, but this is more than offset by a very low acquisition cost of about of only $955 per square foot, making this a value proposition. It is attractively priced on a dollar per square foot basis relative to a new condominium and also attractively priced as a meaningful rental alternative for those 3 bedroom customers who are currently renting and about to renew a lease in an Upper East Side luxury apartment at current rates (and who as luxury renters enjoy no tax deductions and no opportunity to build equity in a home investment). Save the extra cash on this primary residence and buy a country home with it.
Note 2: This is a land-lease building with a long and attractive ground lease at fully known future rents, making it possible to offer this unit at a selling price which, but for the land lease, would be much higher. Ask your CPA why it makes sense to conserve cash and buy this large home.
