$6,950,000 $7,495,000
Updated 2 years ago
Off Market

37 East 83rd Street

Upper East Side, Manhattan | Madison Ave & Park Ave

15 Rooms8 Beds10 Baths18,900 Square FeetIncome Property

$6,950,000 $7,495,000
floors / apts11 / 7
Lot Size18'x102'
Built Size18' wide
ZoneC5-1
Building TypeTownhouse
RE Taxes$94,116
Price Per SF
$368

Outdoor space and views

  • Central Park

Building Amenities

  • Voice Intercom
  • Gated Entry
  • Laundry Room

Property Description for 37 East 83rd Street

Presenting a rare redevelopment opportunity at 37 East 83rd Street, a property with infinite potential, located on a picturesque tree-lined block just off Madison Avenue. This 5-story townhouse offers extraordinary opportunity for visionary buyers looking to capitalize on its vast air rights and flexible zoning. Interested buyers can request a comprehensive redevelopment package, expertly prepared by Legeard Studio. This package includes: a detailed zoning analysis, feasibility study that outlines potential redevelopment options, execution-ready illustrative redevelopment budget & timeline, and renderings to help envision the true potential of this asset. This property stands out as unique in the Upper East Side market, ideal for developers, investors and end-users seeking to maximize its potential. The non-landmarked status and significant air rights make it a prime candidate for redevelopment, whether the goal is to create monumental single family townhouse, rental building, condo development, mixed-use development, school, office, cultural institution, embassy or for a range of other uses. Property Highlights: Location: In the heart of the Upper East Side, one block from Central Park and the Metropolitan Museum of Art, and surrounded by the best of Madison Avenue. Lot Size: The property boasts an expansive footprint that is 18’ wide and 102’ deep. It is currently built with approximately 5,760 square feet of interior living space. Redevelopment Potential: With an additional 12,630 square feet of unused air rights, the total buildable space reaches up to approximately 18,390 square feet. The flexible mixed-use zoning allows for a wide array of possibilities. Current Configuration: Currently configured as seven free-market residential units, including three one-bedroom apartments, one three-bedroom, one two-bedroom, and two studios. Non-Landmarked: The property is non-landmarked, and in a multiple zoning district, providing even greater flexibility for redevelopment. Delivery: The building can be delivered with the existing tenants or vacant. Property tours and redevelopment consultations are available by appointment. Additional renderings are coming soon. Please note all renderings are for illustrative purposes only.

Listing History for 37 East 83rd Street

Now
11/14/2024
$6,950,000 [-$545,000] [7.3%]
Price Drop by Jason Haber
Compass
09/03/2024
$7,495,000 [-$900,000] [10.7%]
Price Drop by Jason Haber
Compass

Building Details for 37 East 83rd Street

OwnershipIncome Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1920
Floors/Apts11/7
Learn More About the Building

Transit and Citi Bike

Subway

86 St
0.23 miles
77 St
0.37 miles
86 St
0.44 miles

Citi Bike

Madison Ave & E 82 St
0.07 miles
E 84 St & Park Ave
0.12 miles

Contact Agents

Contact Agents

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: 64229TH