Description de l'actif
LL has been retained on an exclusive basis to arrange for the sale of 110 East 37th Street, a 25’ wide, six-story elevator apartment building located on the south side of East 37th Street between Park and Lexington Avenues. Currently the property contains six apartments of which four are Free Market and two are Rent Stabilized and vacant. The two vacant units, encompassing the entire 5th and 6th floors, can be combined to create a dramatic penthouse duplex at market rent.
The apartments are currently arranged as a ground floor front studio that could be duplexed with the existing finished basement space, a ground floor rear apartment duplexed to the second floor as part of a ~2,244 SF 2-BR / 2-Bath garden apartment, three large floor-through units on floors 3-5, and a very bright, large south-facing loft/studio on the 6th floor with attractive, coffered 10’6” ceilings. The unit also features a wood-burning fireplace and spectacular, oversized antique casement windows encompassing the entire southern and partial eastern exposures which flood the living space with light. The property’s current arrangement of Free Market and vacant units offers tremendous flexibility for the next owner to reconfigure layouts to suit their specific needs.
110 East 37th Street has been well-maintained by 30+ year family ownership evidenced by recent improvements including a restored façade, new roof, virtual doorman, camera security system, and a newly-constructed tenant roof deck. The building is heated via a gas-fired boiler, is individually metered for both gas and electric and is fully sprinklered. The property lies in the Murray Hill Historic District and possesses approximately 845 SF of additional air rights which could be used subject to LPC approval.
110 East 37th Street possesses an exceptional world-class location virtually equidistant from Midtown Manhattan, the United Nations, NYU Langone Medical Center, Yeshiva University and the Empire State Building. This, together with its superior condition will appeal to a wide array of investors, residential end-users, institutions and foreign governments looking for a facility in close proximity to the United Nations and Midtown. The property will be sold on an as-is where-is basis.
Caractéristiques de l'actif
Points clés d'investissement
Tax Class 2B
Virtual Door Man