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$3,540,000
List price: $3,600,000
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222 Central Park South #1620
Coop in Central Park South • 
building info
2bd • 2ba
List price

$3,600,000

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Key Details
Days on market
313
Last price change
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Estimated payment
$21,056
Monthly taxes
N/A
Monthly maintenance
$7,848
Description
Built in 1905 and completed in 1908, the legendary Gainsborough Studios were first constructed as an apartment hotel for artists. Shortly thereafter, the building was converted into a co-operative for its tenants. The unique frontage, which has recently undergone a major restoration, features a bust of the 18th century painter, Thomas Gainsborough, after whom the building was named and dedicated. The upper facade has beautiful Edwardian tiles in bright colors made from 18th-Century pottery and an impressive frieze entitled 'a Festival Procession of the Arts.' This renowned building's northern light attracted artists including the Surrealist painter, Enrico Donati. He used Apartment 1620 as his painting studio for well over 50 years. Located on the 14th and 15th floors, the dramatic double-height living room with wood burning fireplace has an 18'8' ceiling and oversized windows with sweeping views of Manhattan's iconic and landmarked 843-acre Central Park. The balcony overlooking the living room provides an even more spectacular view of Fifth Avenue, and the vast pastoral oasis of the Park. The apartment is a beautiful portal through which quintessential New York can best be experienced! Much of the architectural details and original floorplan of the apartment have remained intact. Representing the combination of two apartments, the former living room of the second apartment now serves as the primary bedroom with a handsome inlaid wood burning fireplace. There is a second bedroom, two windowed baths, dining area and a windowed kitchenette. The apartment is in need of an update by its new owners. The Gainsborough has a full time attended door and elevator. The cooperative permits up to 50% financing and pieds-a-terre. Pets and a washer/dryer allowed with board approval. The building has a 3% flip tax. Showings are Monday-Friday between 10:00am and 4:00pm.

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Important Stuff
Important Stuff
Doorman
Elevator
Washer/Dryer In Unit
Amenities
BUILDING AMENITIES
  • Pied-a-Terre Permitted
LISTING AMENITIES
  • City View
  • Dining Room
History
What it'll cost
Purchase price
$3,600,000
Asking Price: $3,600,000
Term
30 Years
Down Payment
$1,800,000 (50%)
Min: 50% (1,800,000)
Rate
8.0 %
Mortgage Amount
$1,800,000
Mortgage Payment
$13,208
Maintenance
$7,848
Estimated Yoreevo rebate
$60,000
Estimated closing cost
$61,000
Total monthly cost $21,056
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