$8,000,000
Updated 9 years ago
Sold

232 East 68th Street

Upper East Side, Manhattan | Third Ave & Second Ave

4 Beds6 Baths6,000 Square FeetSingle Family

$8,000,000
floors / apts4 / 1
Lot Size18'x77'
Built Size18'x50'
ZoneR8B
Building TypeTownhouse
RE Taxes$29,556
Price Per SF
$1,333

This property was sold for $8,000,000 on 04/03/17.

Listing Features

  • Original Details
  • Central AC
  • Gas Heat

Outdoor space and views

  • Backyard
  • Balcony
  • Garden
  • Patio
  • Terrace

Building Amenities

  • Voice Intercom
  • Garden
  • Gated Entry
  • Laundry Room
  • Outdoor Parking
  • Second Entry
  • Stoop Entry

Property Description for 232 East 68th Street

PRICED TO SELL AT $8,960,000 ($1,493/SF and 3.8% cap rate) - This beautifully renovated 2-family house has approximately 6,000 interior square feet (buildable to 8,500 SF for residential use and 10,500 SF for community facility use) and 1,800 exterior square feet. The property has 3 street entrances and currently consists of an owner's triplex and a high income duplex rental apartment, but it is easily converted back to single family. It is also an ideal investment property. The upper duplex has been rented out continuously for the last several years to high income and corporate tenants. Going forward the projected rent is $13,000 for the upper duplex and $22,000 for the garden triplex for a total gross income of $35,000 p.m . or $420,000 p.a. After total expenses of about $80,000 p.a (including $60,000 in real estate tax), Net Operating Income (NOI) is approximately $340,000 or 3.8% of the $8,960,000 asking price. This is a superior cap rate for such a prime property. Given the buildable 10,500 SF for community facility use this property also has the potential to be expanded as a medical, educational or nonprofit facility.

Listing History for 232 East 68th Street

Now
12/19/2016
Contract Signed by George Vanderploeg
Douglas Elliman
04/23/2016
Price Increase by George Vanderploeg
Douglas Elliman

Building Details for 232 East 68th Street

OwnershipSingle Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1899
Floors/Apts4/1
Learn More About the Building

Transit and Citi Bike

Subway

68 St-Hunter College
0.15 miles
72 St
0.22 miles
Lexington Av/63 St
0.27 miles
Lexington Av/59 St
0.4 miles
59 St
0.44 miles

Citi Bike

E 68 St & 3 Ave
0.04 miles
E 65 St & 2 Ave
0.14 miles

Contact Agents

Contact Agents

George Vanderploeg
Douglas Elliman
Steffen Kral
Douglas Elliman

Upper East Side | Manhattan

Quick Profile

Exuding a cosmopolitan, refined air that is reminiscent of Paris or other European cities, the Upper East Side (the UES, to local cognoscenti) has a reputation as being a bastion of wealth and privilege. Even though it was built by American “royalty” families like the Vanderbilts, Roosevelts, Kennedys, Carnegies and Rockefellers, whose elaborate mansions once anchored Fifth Avenue, there are affordable housing options throughout the neighborhood. The further east you move, away from Central Park and the more commercial avenues, the more likely you are to find quiet, tree-lined streets with historic townhouses and brownstones. Keep your eye out for reasonably priced apartments in pre-war low-rise and even a few high-rise buildings.

With abundant, beautifully landscaped green spaces, including the oasis of Central Park acting like a backyard, the area is quiet and lushly green. You can relax and unwind in John Jay Park, Carl Schurz Park or take a stroll along the East River Promenade. The whole neighborhood seems isolated from the workaday chaos of the city at large. Add to that the history of the neighborhood and the abundance of cultural institutions, and you have a uniquely welcoming neighborhood.

Known for its abundance of high-end retail shopping, especially on Madison Avenue, the Upper East Side is host to the Barneys New York flagship department store. Here you can find upscale goods, fashion and home decor items. You will also find the edgy runway-inspired Alexander McQueen collections. If you are dying to treat your feet to red-soled opulence, be sure to visit the Christian Louboutin boutique. These are only a small sampling of this high-end shopper’s paradise that features everything from designer boutiques that offer the ultimate in haute couture to resale shops where you can find last season’s best on sale at hefty discounts .

There are many unique dining experiences, from fine dining to the casual bite-on-the-go, awaiting you in the UES. Sushi is going through a renaissance in the city, and the best omakase-style sushi can be found at Sasabune on E 73rd Street. Omakase sushi means that you leave the choice of ingredients, preparation method and presentation to the chef. Elegant French cuisine can be experienced at JoJo, E 64th Street, housed in gorgeous townhouse. Just for fun, visit the Lexington Candy Shop on Lexington Avenue, to get a taste of an old-fashioned soda fountain.

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. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 20662TH