VIRTUAL TOUR
LEARN MORE
THE PROPERTY
Neighborhood
Lenox Hill
Block/Lot
1404/13
Landmark
Upper East Side Historic District
Gross Building Area
8,064+ SF
Lot Size:
22' x 100.42'
Air Rights
11,475+ SF
Stories
5-Story Elevator Building + Penthouse
Zoning
R9/C1-5
FAR (built/allowed)
3.33/9.00
Assessment & Taxes
$858,330/$90,200
Community District
Manhattan Community District 8
Use Group - Residential
Residential Use Group 2 - Apartment Building
Use Group - Commercial
Commercial Use Group 6C - Art Gallery
The 22 foot wide Property spans over 8,000 square feet and is presently configured into 4 units: an English Basement on the ground-level duplexed into a second-level gallery; a floor-through 2-bedroom/2-bath residential third-level; a duplexed 3-bedroom/2.5-bath apartment on the fourth and fifth level; and a penthouse alcove-studio apartment. The Property also has a working elevator (with original recessed wood paneling) and features seven working wood-burning fireplaces, open sky-lit offices on the first floor, and two rear terraces. The building is fitted with central heat as central air conditioning. It offers numerous professional or residential use possibilities, either as a multi-unit or reconfigured to a single family residence. The Property is located in the Lenox Hill neighborhood of the Upper East Side Historic District.
FLOOR PLANS
Penthouse
Alcove Studio Apartment
4th & 5th Level
3 Bedroom/2.5 Bath
Duplex Residence
4th & 5th Level
3 Bedroom/2.5 Bath
Duplex Residence
3rd Level
2 Bedroom/2 Bath
2nd Level
Gallery Duplexed
with Ground Floor
Ground Level
Offices/
English Basement
Penthouse:
Alcove studio with small-renovated kitchen, Viking stove, Subzero fridge, full bath, Fujitsu HVAC unit, and stairway skylight. Lease expires August 2, 2019.
Mansard Fifth Level (Duplex):
Master bedroom in rear, two (2) bedrooms in front, two (2) full marble bathrooms, Juliet balcony, three (3) skylights, wood-burning fireplace, and walk-in closets/ storage.
Fourth Level (Duplex):
Two wood-burning working fireplaces with original carrera marble and brick mantels, full kitchen with Subzero Fridge, Thermador stove and Bosch dishwasher, 1/2 bath with marble floors, private office space, living room, and an outdoor elevated deck/patio.
Third Level:
Art gallery and office space leased to an art Gallery until March 14, 2020
Second Level:
A spacious multi-room gallery considered the main floor with wood-burning fireplace, large floor-to-ceiling windows, a baseboardto- ceiling reference library, and an Admiral elevator.
First Level/English Basement/Entry-Way:
Open sky-lit offices, wood-burning fireplace, 8'-12' ceiling height, spiral staircase, three (3) skylights, full-windowed kitchen, two 1/2 baths, alarm system, recessed lighting, central HVAC, new intercom system, built-in closets and bookcases, storage, and a rear garden/patio space (22' x 7.5').
Asking Price: $10,975,000
BY THE NUMBERS
6
Bedrooms
5 Full & 3 Half
Bathrooms
8,046
Square Feet
5 Floors
+ Penthouse
1
Admiral
Elevator
2
Rear
Terraces
7
Wood Burning
Fireplaces
7
Skylights
FINANCIALS
INCOME
AMOUNT
Residential Income
$38,400
Commercial Income
$164,220
Residential Income
$202,620
EXPENSES
Real Estate Taxes (2019)
$90,200
Water & Sewer
$1,500
Fuel (Gas)
$28,500
Insurance
$5,000
Electric
$3,600
Repairs, Maintenance & Supplies
$10,000
Total Expenses:
$138,800
Net Operating Income:
$63,820
The Property currently generates $200,000± of annual rental income, which covers the real estate taxes, all utilities, insurance and building maintenance. The owner-occupied first, second, fourth and fifth levels can be leased at market rates for an additional $300,000 - $400,000 of annual income. Alternatively, the building can be fully vacated within one year for conversion. The third level lease expires on March 14, 2020 and the Penthouse can be delivered vacant.
Asking Price: $10,975,000
UNIT
TYPE
RENT/MO
LXP
STATUS
Penthouse
Studio
$3,200
08/02/2019
Free Market
3rd Floor
2BR, 2BA
$13,685
03/14/2020
Free Market
Monthly Total
 
$16,885
 
 
Annual Total
 
$202,620
 
 
GALLERY
Share:
CONTACT US
For serious inquiries, please provide your contact information:

I am a:
Ronald H. Cohen
Associate Broker
(646) 424-5317
rcohen@besenassociates.com
Madison O'Brien
Licensed Salesperson
(646) 424-5309
madison@besenassociates.com