Description

Where old New York meets modern luxury, welcome to Chateau Waverly. Positioned where historic Gay Street meets Waverly Place, this remarkable 22-foot-wide townhouse spans approximately 7,000 square feet across five levels. Its rare setting creates a long, open outlook up picturesque Gay Street to the north, while a cheerful south-facing garden and a three-exposure glass-enclosed sunroom bring light and greenery to the rear. Surrounded by gracious 19th-century homes on one of Greenwich Village's most inviting blocks, the property is moments from celebrated restaurants, distinctive boutiques, parks and cultural destinations, with convenient transportation providing effortless access throughout New York City.

The comprehensive gut renovation includes luxury condominium-level finishes, all-new mechanical systems and individually controlled HVAC. Interiors feature soaring and coffered ceilings, oversized windows and wide-plank hardwood floors. Custom kitchens offer marble waterfall islands, full-height quartz backsplashes, professional appliances, instant hot water, garbage disposals, wine refrigeration and refrigerator drawers. All ten marble and travertine bathrooms in the building have radiant-heated floors, with select homes also offering integrated bidet toilets, soaking tubs and frameless glass showers. In-unit laundry, custom built-ins and generous storage complete each residence.

Chateau Waverly is configured as four beautifully finished free-market residences, an increasingly valuable advantage that provides meaningful flexibility in leasing, pricing and long-term management.

The centerpiece is the expansive garden and second-floor duplex, designed as a substantial owner's residence with three bedrooms and flexibility for a fourth, four marble bathrooms including two en-suite primary baths, two living rooms, a separate dining room, two wet bars, a newly appointed kitchen and a three-exposure glass-enclosed sunroom opening directly to the private garden. Above are three gracious floor-through residences, each with two bedrooms plus flexibility for a third bedroom or home office, two full marble bathrooms and in-unit laundry. The fourth-floor residence is further distinguished by a private terrace.

The building's rental strength has already been demonstrated, with the garden duplex, Unit 1, leased at $50,000 per month, Unit 2 at $17,995 per month, and Unit 4 at $15,995 per month, together generating $83,990 per month, or $1,007,880 in annualized contracted income. With the remaining residence projected at $16,995 per month, the fully leased property is projected to generate approximately $1.212m in annualized gross rental income, equivalent to well over $200 per rentable residential square foot.

With the renovation complete, a buyer can step directly into a finished asset with immediate income and substantial additional potential. Chateau Waverly can remain a fully leased luxury investment or evolve over time into an increasingly expansive primary residence, beginning with the garden duplex while the residences above continue to generate significant income. Those upper floors can ultimately be used in any combination as guest suites, home offices or additional private living space, while the property's width, scale and configuration also create the opportunity for a future grand single-family residence.

Completed, free-market and already income-producing, Chateau Waverly is the rare Village asset that works on every level, combining immediate performance, exceptional personal-use flexibility and enduring long-term value in a property of extraordinary scarcity.

Listing courtesy of Brown Harris Stevens Residential Sales LLC ...
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