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Listing Courtesy of POLJAN PROPERTIES INC
$ 8,000,000
Est. payment | /mo
8 Beds
6 Baths
5,000 SqFt
$ 8,000,000
Est. payment | /mo
8 Beds
6 Baths
5,000 SqFt
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $1,600
Subdivision Carnegie Hill
MLS Listing ID RLS11028192
Style Walk-Up
Bedrooms 8
HOA Y/N Yes
Property Description
Opportunity knocks! 1289 Madison Ave is a 5 story, mixed-use building, with 6 units in the heart of Carnegie Hill's Historic District. Situated on bustling Madison Ave, just off East 92nd Street. Enjoy the exceptional transportation & conveniences. A plethora of incredible independent restaurants, cafes, and bars nearby. Just blocks away from Central Park, Frank Lloyd Wright's Guggenheim Museum and Museum Mile. Close to the crosstown M96 bus, 4, 5, 6 & Q trains. 1289 Madison Ave is perfect for an investor or end-user alike. As an end-user, this is an opportunity to run your own business out of one of the commercial spaces and live in the penthouse above. Large, new condo developments in the area will bring the desired foot-traffic for the ground floor commercial tenant. BUILDING This pre-war building is made up of 2 commercial spaces and 4 residential apartments. All units are free market and have been well maintained and cared for by the current owners. 1st Floor: Commercial space; Occupied by Rosa's Pizza, with over 1,200 sq ft, kitchen, storage, cellar. Note: Photos are of previous business. 2nd Floor: Commercial space; Currently occupied by an art school, with a lease through January 2027. 3rd Floor: Residential; Large, recently renovated, 3 bed, 1 bath apartment with outdoor space. Sun-filled, with eastern and western exposures. Open kitchen with stainless steel appliances, full gas range stove and a dishwasher. The primary bedroom fits a king-sized bed and leads to the extraordinary private terrace. Tons of storage and hardwood floors through the apartment. 4th Floor: Residential; Comprised of 2 units; 1-bedroom apartment and a studio. Each of these units have been recently renovated and are filled with great natural light. Open kitchens with stainless steel appliances, including gas ranges stoves and dishwashers. The 1-bedroom unit also has a private balcony. Beautiful hardwood floors throughout and decorative fireplace in each unit. 5th Floor: Residential; Top floor is currently configured as a 2 bedroom apartment. Awash in sunlight from the western and eastern exposures. Open kitchen, with skylight & dishwasher. Primary bedroom fits a king-sized bed. Large, windowed bathroom. Beautiful decorative fireplace and hardwood floors throughout. Monthly Rent Roll: 1st Floor (Pizzeria): $15,000 + Portion of real estate taxes; May 2029 2nd Floor (Art school): $7,500 + Portion of real estate taxes; Lease ends January 2027 3rd Floor (3 bedroom): $4,995; Lease ends March 2025 4th Floor (1 bedroom): $2,995; Lease ends February 2025 4th Floor (studio): $2,495; Lease ends May 2025 5th Floor (2 bedroom): $3,995; Lease ends February 2025 Monthly Rental income: $32,985
Location
Rooms
Basement Other
Interior
Cooling Other
Fireplace No
Laundry Building None
Exterior
Exterior Feature Balcony
View Y/N No
Porch None, Balcony
Private Pool No
Building
Story 5
New Construction No
Others
Ownership Rental Building
Special Listing Condition Standard
Pets Allowed Building No, No
RLS Data display by LUXIAN INTERNATIONAL REALTY