59 East 73rd Street

This elegant five story townhouse sits on a 17.5' × 102.2' lot on 73rd Street between Park and Madison Avenues and offers 7,525 square feet. Built in 1910, seconds away from Madison and Fifth Avenue, this residence offers absolute privacy while providing easy access to Central Park, galleries, high-end boutiques and the finest restaurants. It is in the Upper East Side Historic District and is landmarked. The zoning is R10 & PL (Special Park Improvement District) and therefore allows Residential Use. Currently configured as a 10-unit condominium with laundry and a caretaker’s unit, there are two apartments per floor consisting of a studio (front) and a one bedroom (back). The street level studio apartment (1F) has a private gated entrance from East 73rd Street and the one bedroom (1B) has a private garden/ patio. The second floor (parlor floor) has a gracious studio apartment (2F) with very high ceilings and a one bedroom in the back (2B) that faces the serene garden/ patio below. The third floor studio apartment (3F) enjoys tree-lined views and the one bedroom (3B) has a private terrace. The fourth floor has a studio (4F) and a one bedroom (4B). The fifth floor studio receives incredible natural light (5F) and the one bedroom apartment (5B) has two skylights. Each apartment has a renovated granite kitchen with stainless steel appliances, marble bathrooms with European style showers, and individually controlled central heating and air conditioning units. There are decorative fireplaces in a few apartment units. The building underwent an extensive “gut” renovation, including plumbing and electrical in 2007. New marble flooring in the entrance vestibule and entry hall was installed which complements the original mahogany trim, baseboards, chair rail, and wainscot. Additionally, the central stairs and floor landings were newly carpeted and illuminated by contemporary lighting. In 2017, the facade was restored and the pointing work completed at that time, and replacement of the roof and roof skylights. 59 East 73 is a great investment opportunity because, due to the current configuration, possibilities are endless for an investor: 1. The Subject Property can remain an investment property where the condo units all stay rented, or each unit can be sold individually. 2. It can be converted to an owner’s duplex (or triplex) with the balance staying as rental apartments or the balance of the apartments can be sold. 3. The Subject Property can be converted to a single family Upper East Side home, with the opportunity to create your own fabulous home in one of the best blocks in the UES. 4. The Subject Property can also be divided into two duplexes and a simplex, or a triplex and a duplex. 5. Another possibility is converting the current 10 apartments into 5 full fl oor apartments, to be resold or rented. 59 East 73 has a FAR of 10, with 17,360 allowable sq. ft. (Basic FAR). *** The Actual Buildable FAR must be confirmed by conducting a property survey and by a submission to the NYC Dept. of Building and the NYC Landmark Preservation Commission. ***