Upper East or Upper West? Some Manhattanites prefer the ascendant West Side, while others prefer the fashionable east Side, from Yorkville and Sutton Place down to Tudor City, Gramercy Park and beyond. In either case, there are plenty of attractive options for all ages and lifestyles.
The 24-foot wide limestone townhouse at 324 West 80th Street between West End Avenue and Riverside Drive was designed and built in the Elizabethan Renaissance Revival style by architect Clarence True in the late 1800s. The bow-front building has a certificate of occupancy for three units, with two privately accessed full-floor apartments on the fourth and fifth floors, both rentable, in addition to the owner’s four-story residence. Total income from the two rentals could easily fetch $100,000 a year, said Barbara Weinstein, associate broker with Halstead Property.
The sky room on top is built to resemble a Provencal tile roof cottage, while the rest of the renovation is stylish and contemporary. The entire package is on offer at $12.5 million. “This would be ideal for someone who wants an elegant townhouse with the option of renting out two floors, which are already configured with separate entrances on the street,” added Weinstein. “You could rent those out if you wanted to, create your town co-op or condo, or just keep it for family and friends. As it stands now, the house can be delivered vacant. The choice is yours.”
Photo caption: The 1800s townhouse at 324 West 80th Street has an owner’s residence plus two rental properties.
Although hardly the Upper east Side, Gramercy Park is one of the most exclusive East Side neighborhoods. Tempo is a new full-service, concierge condominium with fitness center, sauna, garden courtyard and rooftop sky lounge at 300 East 23rd Street that opened on 2012, and that enjoys a 10-year tax abatement lasting until 2022. Apartment 14B comes with 1,491 square feet of open-plan interior space with 10-foot ceilings, and a wraparound terrace spanning 831 square feet. The corner terrace offers both sunset and sunrise views that include the Chrysler, Met Life, One World Trade Center and New York Life buildings.
“I believe that buyers find the Gramercy Park area to be very warm and inviting, and a lot less chaotic than other downtown neighborhoods on either the West or the East Side,” said Christopher Kromer and Nora Ariffin, associate brokers with Halstead Property. “I also think it’s a great location that’s very accessible to a lot of other locales – Union Square, Flatiron, NoMad are west; East Village is south; and Murray Hill is north. There’s a lot of exciting development coming to the East River waterfront, and you have two parks nearby: Gramercy and Madison Square. It’s only two blocks from the 6 train and a short walk to the Union Square trains, but the third phase of the 2nd Avenue Subway will make it even more convenient. Like the Hudson River Park development on the West Side, the planned development here will only improve the value of this part of the East Side even further.”
Photo Caption: Tempo, at 300 East 23rd Street, is a jewel of the East Side's exclusive Gramercy Park neighborhood. Photo: Halstead Property, LLC
Thursday, August 14, 2014