Description

Presenting a rare redevelopment opportunity at 37 East 83rd Street, a property with infinite potential, located on a picturesque tree-lined block just off Madison Avenue. This 5-story townhouse offers extraordinary opportunity for visionary buyers looking to capitalize on its vast air rights and flexible zoning.

Interested buyers can request a comprehensive redevelopment package, expertly prepared by Legeard Studio. This package includes: a detailed zoning analysis, feasibility study that outlines potential redevelopment options, execution-ready illustrative redevelopment budget & timeline, and renderings to help envision the true potential of this asset.

This property stands out as unique in the Upper East Side market, ideal for developers, investors and end-users seeking to maximize its potential. The non-landmarked status and significant air rights make it a prime candidate for redevelopment, whether the goal is to create monumental single family townhouse, rental building, condo development, mixed-use development, school, office, cultural institution, embassy or for a range of other uses.

Property Highlights:

Location: In the heart of the Upper East Side, one block from Central Park and the Metropolitan Museum of Art, and surrounded by the best of Madison Avenue.

Lot Size: The property boasts an expansive footprint that is 18’ wide and 102’ deep. It is currently built with approximately 5,760 square feet of interior living space.

Redevelopment Potential: With an additional 12,630 square feet of unused air rights, the total buildable space reaches up to approximately 18,390 square feet. The flexible mixed-use zoning allows for a wide array of possibilities.

Current Configuration: Currently configured as seven free-market residential units, including three one-bedroom apartments, one three-bedroom, one two-bedroom, and two studios.

Non-Landmarked: The property is non-landmarked, and in a multiple zoning district, providing even greater flexibility for redevelopment.

Delivery: The building can be delivered with the existing tenants or vacant.

Property tours and redevelopment consultations are available by appointment.

Additional renderings are coming soon. Please note all renderings are for illustrative purposes only. Listing courtesy of Compass ...
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