The Forum

343 East 74th Street, PH-1D

Upper East Side   |   Second Avenue & First Avenue

Price Drop
Condop [Full Service]
$ 1,500,000 [ 14.29% | $ 250,000 ]
Rooms 6
Bedrooms 3
Bathrooms 3.5
Status Active
Maintenance [Monthly] $ 5,439
Financing Allowed 90%
Listing ID: 1814953

Property Description

This architecturally significant and recently renovated 3 bedroom, 3.5 bathroom 1862 SF duplex penthouse is now on the market for under $806 per square foot. On the corner of the building with open city views to the South and West, the apartment is very bright throughout the day. Additional apartment features include high ceilings, top end appliances, a wood burning fireplace, stunning large windows throughout and generous storage space.

The lower entry level features an eat in kitchen open on two sides to a large living room. A powder room is conveniently located nearby and on the opposite end is one of three bedrooms with its own en suite bathroom. This room is currently being used as a home office and playroom but can easily accommodate a queen bed. The kitchen has been completely rebuilt and is outfitted with custom cabinets, a Wolf 5 burner range, Miele refrigerator and oven and mosaic custom tile work. An incredible feature of the dining area is a double height slanted window which stretches from the lower level to the upper level of the home.

A custom staircase leads to the upper level where there is an oversized corner primary bedroom with a large walk-in closet. A five fixture en suite bathroom has deep soaking tub and double vanity. A third bedroom with its own en suite bathroom is located on the opposite end. A new owner has the option of entering the home on this level as well. Modern conveniences include low voltage automated shades and an in unit washer and dryer.

This penthouse three bedroom opportunity represents an excellent value driven purchase opportunity versus the rental alternative.

THE BUILDING AND NEIGHBORHOOD

The Forum building amenities include a 24-hour doorman, live-in superintendent, parking garage, common roof deck and fitness center with steam and sauna. Neighborhood highlights include John Jay Park, great restaurants and shops and close proximity to the Q train and easy access to the FDR Drive. There is no board approval required and all purchase scenarios as well as unlimited subletting are welcome at The Forum.

LANDLEASE DETAIL

The Forum was granted a 149 year land lease with the Greek Orthodox church as landlord. There are 116 years remaining on the lease and its payments represent only 12% of the building's operating budget (2018). The building ground rent increases are very predictable with an average 2% increase per year annualized. The next increase will not occur until September 2027. *Buyers should consult their attorney on land lease details.

MAINTENANCE BUYDOWN

At our current ask price, we are offering a credit of $36,000 at closing as a 1 year $3,000/month credit against the maintenance. Actual maintenance is $8,438 per month.

This architecturally significant and recently renovated 3 bedroom, 3.5 bathroom 1862 SF duplex penthouse is now on the market for under $806 per square foot. On the corner of the building with open city views to the South and West, the apartment is very bright throughout the day. Additional apartment features include high ceilings, top end appliances, a wood burning fireplace, stunning large windows throughout and generous storage space.

The lower entry level features an eat in kitchen open on two sides to a large living room. A powder room is conveniently located nearby and on the opposite end is one of three bedrooms with its own en suite bathroom. This room is currently being used as a home office and playroom but can easily accommodate a queen bed. The kitchen has been completely rebuilt and is outfitted with custom cabinets, a Wolf 5 burner range, Miele refrigerator and oven and mosaic custom tile work. An incredible feature of the dining area is a double height slanted window which stretches from the lower level to the upper level of the home.

A custom staircase leads to the upper level where there is an oversized corner primary bedroom with a large walk-in closet. A five fixture en suite bathroom has deep soaking tub and double vanity. A third bedroom with its own en suite bathroom is located on the opposite end. A new owner has the option of entering the home on this level as well. Modern conveniences include low voltage automated shades and an in unit washer and dryer.

This penthouse three bedroom opportunity represents an excellent value driven purchase opportunity versus the rental alternative.

THE BUILDING AND NEIGHBORHOOD

The Forum building amenities include a 24-hour doorman, live-in superintendent, parking garage, common roof deck and fitness center with steam and sauna. Neighborhood highlights include John Jay Park, great restaurants and shops and close proximity to the Q train and easy access to the FDR Drive. There is no board approval required and all purchase scenarios as well as unlimited subletting are welcome at The Forum.

LANDLEASE DETAIL

The Forum was granted a 149 year land lease with the Greek Orthodox church as landlord. There are 116 years remaining on the lease and its payments represent only 12% of the building's operating budget (2018). The building ground rent increases are very predictable with an average 2% increase per year annualized. The next increase will not occur until September 2027. *Buyers should consult their attorney on land lease details.

MAINTENANCE BUYDOWN

At our current ask price, we are offering a credit of $36,000 at closing as a 1 year $3,000/month credit against the maintenance. Actual maintenance is $8,438 per month.

Listing Courtesy of Compass

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Apartment Features

A/C [Central]
Washer / Dryer
343 East 74th Street Upper East Side New York NY 10021

Building Details [343 East 74th Street]

Ownership Condop
Service Level Full Service
Access Elevator
Pet Policy Pets Allowed
Block/Lot 1449/7502
Building Type High-Rise
Age Post-War
Year Built 1987
Floors/Apts 25/149

Building Amenities

Bike Room
Fitness Facility
Garage
Roof Deck
Sauna
Steam Room

Building Statistics

$ 959 APPSF

Active Sale Listings

$ 946 APPSF

Contracts Signed

$ 901 APPSF

Closed Sales Data [Last 12 Months]

Mortgage Calculator in [US Dollars]

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Loan Amount

Klara Madlin

License

Licensed Real Estate Broker


This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2020 REBNY Listing Service, Inc. All rights reserved. Additional building data provided by On-Line Residential [OLR].
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.