38-40 East 75th Street $29,800,000


    38-40 East 75th Street New York, NY 10021

    • Commercial
    MLS# RPLU-63216713339 | Active


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    FLEXIBILITY PERSONIFIED IS WHAT YOU GET IN THIS HIDDEN GOLD COAST-TREASURE! <BR><BR>For $29,800,000 you can have a 38' residence with an existing owner's 3-4 BR. Triplex with an outdoor patio, plus 8 units - Mostly furnished, short leases, no controls.<BR><BR>The 4 BR triplex has a double height Living room with 16' ceilings that is 19'X19' and a glass wall to the rear 9X13 patio. The triplex encompasses the entire ground floor plus the rear third of the second and third floors. Need a home office? The ground floor of the triplex has 3 separate entrances to the public hall and the room nearest the public entry to the building completely closes off to create a home office which would be eminently suitable for a psychiatrist et al.<BR><BR>The double height Living room would work brilliantly for a private art dealer as a live/work situation, especially as the two triplex bedrooms above each have 13' ceilings.<BR><BR>Need more bedrooms? Just break through on the second floor and third floors of the triplex and easily add 1, 2, 3 or even 4 bedrooms to the triplex from within the apartment, and still maintain 4 income units above which are accessible by a separate public hall and stair OR, completely alter the building into a single family dwelling.<BR><BR> This would create an amazing 38' expanse on a 102'.17" lot in a brilliant "Gold Coast" neighborhood and create your very own 14.5-15,000 square foot "Mc Mansion". <BR><BR>These two buildings were originally built by the same builder/AIA's, Thom & Wilson in the late 1800"s. The elevations match up perfectly on the ground floor and vary only slightly on the upper levels. They are currently being marketed together for $29,800,000. Both brokers are co-owners and are offering a 2% commission to the selling broker.<BR><BR>38 East 75th St Details:<BR> Block 1389: Lot 45; 20 X 102.17 built 20 X 56 with a 3 story rear extension 20 'X 33 on the ground floor and 14.8 X 33 on the upper 2 floors. The rear patio is 19 x 13.17. There are a total of 9 units. Building is five stories plus cellar Triplex is approximately 2300 square feet encompassing the entire ground floor plus the rear third of the second and third floors. Additionally, the front part of the second and third floors have a total of 4 large studio apartments, two floors (4 & 5) are built 20 x 50 and have another 4 apartments, the rear ones being much smaller than the front ones. The fourth level rear (Apt 3B) has a large terrace approx. 14.8 X 33 or 462 sf. Total square footage is approx. 6700 with additional unused air rights has approx 1553 sqft. Max usable floor area is 8172 sf. Cellar has 9.5'-10' ceiling for about 1200 sf and the back end becomes a single crawl space in the rear under the double height living room above. <BR><BR>Erected 1881-2; Architect Thom and Wilson who also did 40, 42, and 44 E. 75th Street at the same time. <BR>Assessment 2016/2017 Land: $38,324 Building: $269,076 Total: 307, 400 Taxes:$105,200 <BR>Water and Sewer: $ 2,256<BR>Utilities:$16,629 (all apartments are separately metered for gas & electric but for monthly tenants gas and electric are included in the rent, we pay with the month-to-month tenants but not for the triplex.<BR>Miscellaneous:$ 6,790 misc. purchases for the apartments to freshen them up on a regular basis. <BR>R and M$ 45,575 <BR>Total: $187,317<BR><BR>BABB Triplex Apartment entire 1st flr + rear 3rd of floors 2 & 3 $11,000<BR>$132.000 (was rented for $13,620 or $163,440 per yr.) short lease <BR>1A$2000 has been there for well over a year on a mo to mo basis: $24,000 <BR>1B$3800 tenanted most of the time but mo to mo.$45,600 based on full occ. <BR>2A$4500 tenanted most of the time min one month rental$54,000 based on full oc. <BR>2B$3300 tenanted most of the time $39,600 based on full occ. <BR>3A$3000 tenant has been there for over 2 years, mo to mo.$36,000 <BR>3B$2900 Vacant- tenant deceased vacant needs work, has large terrace. (Based on a full occ. $34,800.00. Needs to be reconfigured to be decontrolled. <BR>4A $3300 month-to-month rental$ 39,600 based on full occ. <BR>4B$2300 Value$ 27,600 based on full occ.<BR><BR>5PH $7800, based on full occ $93600.<BR><BR>5B $2300based on full occ $33,600 freeTotal: $ 428,400 yearly estimate<BR><BR>ALL APTS.

    • General Features
      • Sale Or Rent Building for Sale
      • Subdivision Upper East Side
      • County New York
      • Ownership Income property
      • Year Built 1925
    • Building Features
      • Air Conditioning Type Unknown Type
      • Air Conditioning Type1 Unknown Type
      • Block 1389
      • Borough Manhattan
      • Building Access Walk-up
      • Age Pre-war
      • Type Townhouse
      • Built Size 38' wide
      • Elevator False
      • Courtyard False
      • Fitness Facility False
      • Garage False
      • Garden False
      • Green Building False
      • Laundry Room False
      • New Development False
      • Pool False
      • Number of Rooms 0
      • Washer Dryer Hookups True
      • Roof Deck False
      • Floor Count 6
      • Number of Commercial Units 0
      • Number of Professional Units 0
      • Service Level Voice Intercom
    • Property Features
      • Lot Size 38' wide


    Hugo Salazar

    Real Estate Broker, Owner

    RE/MAX Real Estate Professionals

    Office: 718-532-2000


    10021 (New York) Demographics

    38Median Age
    118,795Population Density (per sq. mile)
    85%College Educated
    $115,681Estimated Median Income
    10,159Estimated Total Home Owners
    14,399Estimated Total Renters
    41% / 59%Estimated Owner / Renter Divide
    2Estimated Average Household Size
    45,261Total Population

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        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $29,800,000
        3/8/2019 7:22:00 AM New in Database Source

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