Co-op, 225 E 74th Street #4D, Lenox Hill

Description

Experience classic Art Deco elegance in this beautifully maintained prewar cooperative in the heart of Lenox Hill. From its striking 1930s faade to its grand lobby, 225 East 74th Street offers timeless New York charm.

Residence 4D is currently occupied under a rent-stabilized lease, with existing rental income of USD 400 per month. The unit is being sold subject to the existing tenancy, and interior showings are not currently available.

Building amenities include a 24-hour doorman, live-in superintendent, elevator, laundry room, bike room, private storage, and a landscaped garden. Purchasers are required to rent a basement storage unit, subject to availability.

The co-op allows up to 80% financing, pieds--terre, co-purchasing, pets, and subletting for up to 3 of every 5 years (minimum 1-year lease), subject to Board approval. Sublet fees are 30% of maintenance in year one, 40% in year two, and 50% in year three, with a possible fourth year at the Board's discretion. A 2% flip tax on purchase price, split equally between buyer and seller, applies.

Listing courtesy of Hauseit LLC