Buy with Yoreevo
$8,751,667
List Price: $8,900,000
Share Listing
Save Listing
1289 Madison Avenue
Townhouse in Carnegie Hill •  building info
8bd • 6ba • 5,000ft² $1,780 per ft²
Buy with Yoreevo

$8,751,667

List Price

$8,900,000

Tour this home • it's free, with no obligation!
Thursday
9
Feb
Friday
10
Feb
Saturday
11
Feb
Sunday
12
Feb
Monday
13
Feb
Tuesday
14
Feb
Wednesday
15
Feb
Thursday
16
Feb
Friday
17
Feb
Saturday
18
Feb
Sunday
19
Feb
Monday
20
Feb
Tuesday
21
Feb
Wednesday
22
Feb
photo of agent
Leon Goldfeld
Ask a Question
Key Details
Days on market
93
Last price change
loading...
Estimated payment
$56,675
Taxes
$8,651
Monthly maintenance
N/A
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; currently owner occupied. Setup as a pizzeria, with over 1,200 sq ft, kitchen, storage, cellar and will be delivered vacant. 2ND Floor: Commercial space; Over 1,200 sq ft, currently occupied by the world-renowned Fred Astaire dance studio, with a lease through June 2024. 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; The owner-occupied penthouse apartment is currently configured as a 1 bedroom with a massive living room but can be easily converted back to 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): $20,000 (Proposed/Currently owner-occupied) 2nd Floor (Dance studio): Yr. 1 $8,250, Yr. 2 $8,497.50, Yr. 3 $8,752.43; Lease ends June 2024 3rd Floor (3 bedroom): $4,995; Lease ends March 2023 4th Floor (1 bedroom): $2,995; Lease ends February 2023 4th Floor (studio): $2,450; Lease ends February 2023 5th Floor (2 bedroom): $5,000 (Proposed/Currently owner-occupied) Potential Monthly Rental income: $43,690

Read Less

Important Stuff
Washer/Dryer in unit
Listing Amenities
Hardwood floors
Dishwasher
Central Air
Building Amenities
Fios Available
Outdoor Space
Balcony
Terrace
History
Supermarkets nearby
What it'll cost
Purchase price
$8,900,000
Asking Price: $8,900,000
Term
30 Years
Down Payment
$890,000 (10%)
Min: 10% (890,000)
Rate
6.0 %
Mortgage Amount
$8,010,000
Mortgage Payment
$48,024
Taxes
$8,651
Estimated Yoreevo rebate
Estimated closing cost
Total monthly cost $56,675
Buy your dream home with us and get an estimated
$148,333 rebate.
Rebates vary by sale price, market and are subject to a minimum commission.
Listing Courtesy of POLJAN PROPERTIES

IDX information is provided exclusively for consumers' personal, noncommercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2023 REBNY listing service, Inc all rights reserved.

RLS IDX Data display by Yoreevo.