Date: Sunday, 11/19/2017 Time: 11:30 AM - 12:30 PM
Envision your own full-floor 4,275 square foot residence in Flatiron’s historic Greenwich Building just off Fifth Avenue - built out just the way you want it.
Nothing will suggest that you have arrived like a sprawling full-floor residence in this 11-story boutique neo-Renaissance co-op building undergoing a residential conversion that will allow you the rare opportunity to customize this extraordinary 50 x 90 foot floor replete with luxurious 9 foot high windows and 12 ½ foot high ceilings.
The Greenwich Building has recently embarked upon extensive upgrades as part of a comprehensive capital improvement plan that makes this an excellent investment opportunity, and this unit’s very low monthly expenses of $5,418 (which includes property taxes and is 65% deductible) are hard to beat.
A true diamond in the rough – because all of the floors above it have converted to residential use, this unit retains the unique ability to be used for residential, live-work or commercial purposes due to its classification as an Interim Multiple Dwelling under the Loft Law.
The spacious footprint of the floor presents a wide array of living possibilities – a grand entertaining room, a spacious state-of-the-art kitchen, 3 to 5 bedrooms with dressing rooms and en-suite bathrooms, an office, a home theater.
The unit has two elevators – a keyed elevator that opens directly into your unit that your guests will use to make their grand entrance, and an unusually wide, hand-operated freight elevator with an authentic industrial feel.
While The Greenwich Building is a co-op, you will find that it permits many of the freedoms more typical of condos, including subletting, pied-à-terres, and guarantors. Pets are also permitted.
Investors take note: with residential rentals in the building recently reaching an $82 rent per square foot, this unit also presents an achievable cap rate opportunity of close to 6% that is rare for Manhattan.
Built in 1907 with prominent arched doorways, the Greenwich Building sits at the heart of the Ladies’ Mile Historic District and is flanked on all sides by the classical architecture that defines New York’s Gilded Age.
That architecture perfectly dovetails with the iconic neighborhood’s vibrant shopping and dining, which truly represent the height of New York living. Dine on the high-end cuisine of 3-star Michelin rated Eleven Madison Park or illuminated under strings of lights at Madison Square Park’s Shake Shack. Experience the aroma of fresh baked bread while strolling the aisles of Eataly or browse the neighborhood’s dozens of home and design stores.
Why accept someone else’s renovations when, for less, you can customize this incredible living space to your own needs and desires?
Don’t wait to find out. An opportunity like this doesn’t come often and won’t last long.
(Information expressed herein should not be considered a legal opinion and should be verified with an attorney, architect or zoning expert. All measurements should be considered approximate). Bond New York Properties is a real estate broker that supports equal housing opportunity.