Rarely do two contiguous buildings on an absolutely gorgeous block come to market at the same time.

38-40 East 75th Street
New York NY 10021
Cross street:Madison Avenue

Building

Type:Townhouse
Era:Post-war
Floors:6

Property

Ownership: Income Property
Bedrooms: Studio

Financials

Price: $29,800,000
587 Fifth Avenue New York, NY 10017
Fax:
Courtesy of The Corcoran Group

Description

Rarely do two contiguous buildings on an absolutely gorgeous block come to market at the same time. Originally built in the early 1880s by the same architect, Thom & Wilson-who built houses 38--44 East 75th Street--38 East 75th Street and 40 East 75th Street are 20 and 18 wide respectively, which can be combined to create a property with 38 of frontage in what is considered gold coast territory of the Upper East Side. The elevation for the floor levels of both 38 and 40 East 75th Street align correctly on the ground floor and vary only slightly above. Both sit on lots that have a depth of 102.17. #38 East 75th is 5 stories, and #40 East 75th Street is 6 stories, and has an elevator. BOTH BUILDINGS CAN BE DELIVERED VACANT, and would be an ideal candidate for conversion into a grand residence, school, or non-profit organization. The facade rendering shown reflects changes already effected to 40 East 75th Street, and goes back to what the original facade looked like for 38 East 75th Street. Initial inquiries made by the owners indicate that the faade plan shown would go through city agencies without a full board review. Configurations: Currently each building is configured into 9 individual rental units of varying size. THE BUILDINGS CAN BE SOLD SEPARATELY. See individual building information#38 has eight studio apartments which are currently rented furnished by the month for between $3100-3200- one with a very large terrace on the 3rd floor rear apartment, plus a dramatic 4 bedroom triplex with a double height LR and a glass wall to a rear patio. It takes up the entire ground floor plus the rear third of the second and third floors. This apartment represents about 1/3rd of the current building size and has its own interior staircase.#40 has seven studio apartments, two 1 bedroom apartments, and one 2 bedroom penthouse duplex. There are NO controls in either building and no long leases.

Amenities

  • Voice Intercom
  • Walk-up

Neighborhood

More listings:

Rarely do two contiguous buildings on an absolutely gorgeous block come to market at the same time.

Description

Rarely do two contiguous buildings on an absolutely gorgeous block come to market at the same time. Originally built in the early 1880s by the same architect, Thom & Wilson-who built houses 38--44 East 75th Street--38 East 75th Street and 40 East 75th Street are 20 and 18 wide respectively, which can be combined to create a property with 38 of frontage in what is considered gold coast territory of the Upper East Side. The elevation for the floor levels of both 38 and 40 East 75th Street align correctly on the ground floor and vary only slightly above. Both sit on lots that have a depth of 102.17. #38 East 75th is 5 stories, and #40 East 75th Street is 6 stories, and has an elevator. BOTH BUILDINGS CAN BE DELIVERED VACANT, and would be an ideal candidate for conversion into a grand residence, school, or non-profit organization. The facade rendering shown reflects changes already effected to 40 East 75th Street, and goes back to what the original facade looked like for 38 East 75th Street. Initial inquiries made by the owners indicate that the faade plan shown would go through city agencies without a full board review. Configurations: Currently each building is configured into 9 individual rental units of varying size. THE BUILDINGS CAN BE SOLD SEPARATELY. See individual building information#38 has eight studio apartments which are currently rented furnished by the month for between $3100-3200- one with a very large terrace on the 3rd floor rear apartment, plus a dramatic 4 bedroom triplex with a double height LR and a glass wall to a rear patio. It takes up the entire ground floor plus the rear third of the second and third floors. This apartment represents about 1/3rd of the current building size and has its own interior staircase.#40 has seven studio apartments, two 1 bedroom apartments, and one 2 bedroom penthouse duplex. There are NO controls in either building and no long leases.

Amenities

  • Voice Intercom
  • Walk-up

Neighborhood

More listings:

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.