Description

Own a prime piece of income producing property off Museum Mile on a storied Upper East Side Historic block. 57 East 77th Street is centered among some of the finest medical services, excellent schools, and public transportation – not to mention Central Park, elegant boutiques, and diverse restaurants. This renovated six story rental building offers numerous opportunities. Just East of Madison Avenue, on an architecturally significant block, this unique red brick building currently houses twelve income producing rental units. Photos include representative units. The building is 18.9' x 56' on a 18.9' x 102' lot.

Renovations in 2008 included refreshing the façade, showcasing its large windows, ironwork and stunning red brick. The residential units are made up of twelve occupied apartments (two studios, three two bedrooms, and seven one bedrooms). All the rear units, and the two penthouses have outdoor space. Ten are free market and two are stabilized. Kitchens and baths are renovated, and many units have exposed brick, hardwood floors, split a/c units, terraces, and soaring ceilings. Laundry room is in the basement, and the elegant hallways, roof and boiler are well maintained.

57 East 77th Street is on a storied block where some buildings date to the 19th Century. “Most of the block was built up in 1877, with rows of houses for moderately well to do,” wrote Christopher Gray in his 2004 ‘Streetscapes’ column in ‘The New York Times’. He notes the Beaux-Arts house next door where Robert Redford played a CIA employee in “Three Days of the Condor”. The neighborhood is anchored by nearby medical facilities such as Lenox Hill Hospital, Hospital for Special Surgery, New York Presbyterian Hospital, schools such as PS 6, PS 77 Lower Lab, Birch Wathen Lenox, Marymount, Regis, Hewitt, Allen-Stevenson, Brearley, Spence, Chapin, Dalton, Lycee Francais, Eleanor Roosevelt and many more. Area restaurants include Cafe Boulud, JoJo, Paola's, JG Melon, EJ's, Candle Cafe, Persepolis, Three Guys, Bluestone Lane at the Church of Heavenly Rest on Fifth Avenue, and much more. Museum Mile includes the Frick Collection, Metropolitan Museum of Art, Neue Galerie, The Met Breuer and the Guggenheim. Upper East Side Stores include: Bloomingdales, The Apple Store, Ralph Lauren, Citarella, Butterfield, Gristedes, and a myriad of shops and boutiques.

This boutique building on a prime Upper East Side block is well situated for conversion to live with income, condominium conversion, long-term hold with upgrades while maintaining solid income, and of course a modern single unit home. Please contact exclusive brokers for more information.