58 West 85th Street, New York, NY 10024
12 Photos
 
Listed By  
Brown Harris Stevens
 
$7,395,000
Active for Sale
8 Beds
5.5 Baths
5785 Sq. Ft.
 
Listing ID 10647324
Property Type Townhouse
County New York
Neighborhood Upper West Side
School New York City Schools
   
LIVE ALL EXPENSES PAID FOREVER!!! This is a rare opportunity to live off Central Park in a spacious and historic townhouse triplex that's 3,480 sq ft and have your two free market apartments pay all of the real estate taxes, heat, electricity, insurance, super-everything !-and still have money left over to pay towards the mortgage. 58 West 85th Street is a beautifully restored and renovated 3-unit brownstone on one of the prettiest tree-lined townhouse blocks on the Upper West Side with approximately 5,785 square feet total interior space on 5 floors. Your triplex has one of the UWS's best gardens, 18' x 26' south facing and no intruding extensions. This house offers future opportunity to expand or adjust the living space to your evolving needs, convert to a single family or make a 3 unit condominium. And you bought it for half of what condos are selling for per sq ft on the UWS. Here are the economics: The two tenants are paying a combined $8,335 monthly which is $100,020 annually. The tenants pay their own electric. The owner pays the building's real estate taxes of $58,700 annually (this is a Class 1 house so increase in RET are limited to 6%/year) and the operating expenses (heat, electric, insurance, water, service contracts and maintenance) all of which comes to under $20,000 annually. That leaves an annual profit to the owner of about $21,000. No common charges, no real estate taxes. And a far better value than paying over $2,000 per square foot for a condo (call me and I will show you the math!)Layout-Garden-This floor is accessed through a gated under-stoop entrance and has a front bedroom with full bath, a laundry room and a large media/family room/office. There is a wet bar and the first of three beautifully detailed wood burning fireplaces. The sun washed South facing garden is 18 x 26, has evening lighting which accents the elaborate plantings, dining seating for 6 and a convenient barbecue. Below the garden floor is a high ceiling cellar with approximately 1,000 sq ft of storage. -Parlor-Guests and tenants enter through the proper original box stoop with its restored stone details. The building vestibule includes 3" thick oak doors with OG glass, a large pier mirror and the original oak wainscoting and staircase. The Owner's triplex is entered here through a generous foyer. The front facing (in the old European style) eat in kitchen is 10 x 18, comfortable and bright with t
Property Details
  • 8 Total Bedrooms
  • 5 Full Baths
  • 1 Half Bath
  • 5785 Sq. Ft.
  • 5 Stories
  • Available 10/08/2019
Interior Features
  • Garden
  • 14 Rooms
  • 1 Fireplace
Listed By
Brown Harris Stevens
Listing data is deemed reliable but is NOT guaranteed accurate.
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