$29,800,000
Updated 6 years ago
Off Market

38-40 East 75th Street

Upper East Side, Manhattan | Madison Ave & Park Ave

18 Beds6 Baths14,500 Square FeetIncome Property

$29,800,000
floors / apts6 / 18
Lot Size38' wide
Built Size38' wide
Building TypeTownhouse
RE Taxes$198,590
Price Per SF
$2,055

Listing Features

  • Gas Heat
  • Window AC Units

Outdoor space and views

  • Patio
  • Terrace

Building Amenities

  • Voice Intercom

Property Description for 38-40 East 75th Street

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.

Listing History for 38-40 East 75th Street

Now
02/28/2020
POM by Carrie C. Chiang
Corcoran
02/06/2020
Back on the Market by Carrie C. Chiang
Corcoran

Building Details for 38-40 East 75th Street

OwnershipIncome Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1925
Floors/Apts6/18
Learn More About the Building

Transit and Citi Bike

Subway

77 St
0.19 miles
68 St-Hunter College
0.35 miles
72 St
0.4 miles

Citi Bike

E 76 St & Park Ave
0.07 miles
E 72 St & Park Ave
0.14 miles

Contact Agent

Contact Agent

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: 48930TH