322 W 80th St, New York, NY 10024

Property Description

LIVE ALL EXPENSES PAID! This 22' wide house offers an owner four glorious floors of privacy while two tenants upstairs pay all of your real estate taxes, utilities, heat, insurance, superintendent - everything! Or the house can be delivered entirely vacant for conversion into a single family. The architecture of this building is fabulous original 1899 Clarence True design with the Elizabethan Renaissance Revival facade bow front, brick and limestone accents, wrought iron grilles, fencing and scrolled pediment. This house is built on a full 102' deep lot, not often found with Clarence True houses. A rare feature for Upper West Side houses is the one step-up entrance rather than the high stoop more commonly found. The house is at the center of the Riverside Drive West 80th Street Historic District, one of the most photographed blocks on the Upper West Side. This house is 3 legal apartments and can be delivered entirely vacant. LAYOUT APARTMENT #1 The newly renovated 5,600 square foot quadplex offers a private street entrance, 5 to 6 bedrooms, a fabulous planted South garden, and loads of original period detail. Enter through period wrought iron gates into the original Clarence True designed 18' x 20' entrance gallery. The first floor includes a serving kitchen, living room and access to the planted garden. The South facing garden has a planting shed and receives lots of light. Floor 2 is the impressive formal entertaining floor with 11' ceilings, elaborate Formal Dining Room WBFP carved mantle, wall wainscoting and beamed ceiling, powder room. The Living Room is ornate and impressive with carvings, two enormous windows, WBFP. Floor 3 has 3 bedrooms including the master with ensuite bath. The finished cellar with 8' ceilings is a fabulous recreation space and has access to a lower garden. The apartment is in excellent condition having just undergone a complete renovation of the 2 kitchens and 5 baths. APARTMENT #2 Located on the fourth floor and accessed by the former service stairway, this full floor 3 bedroom/2 bath rental has all the charm and space you would want- hardwood floors, exposed brick walls, WBFP, great light and UWS City views both North and South. There is a D/W, laundry and through-wall AC. Apartment is in very good condition, pays below fair market rent and can be delivered vacant. APARTMENT #3 Located on the fifth floor and sharing the former service stairway with unit #2, this 3 bedroom/2 bath apartment also has a sleeping loft and a 160 square foot south facing sun-drenched terrace. The charm of exposed brick walls, WBFP, hardwood floors and UWS City views are all here as well. Laundry, D/W and through-wall AC. Apartment is in very good condition, pays below fair market rent and can be delivered vacant. The annual operating expenses for the building are: Real Estate Taxes $73,273 Heat $10,000 Water/Sewer $2,920 Common Area Electric $4,800 Insurance $18,000 Superintendent $7,000 Repairs $5,000 Total Annual Operating Expenses $120,993 Apartments 2 and 3 have rental market values of $6,000 and $6,500 monthly, $150,000 annual rents. Leaving money to even pay for a managing agent and concierge service to take care of rent collection, bill paying and maintenance. This is a rare opportunity to own a historic 22 foot wide townhouse and live all expenses paid in your four story 5,600 square foot home.