FLEXIBLE LAY-OUT FOR SINGLE FAMILY USE; RESIDENCE WITH INCOME; OR INVESTMENT WITH HIGH RENTAL INCOME AND UPSIDE APPRECIATION
22 E 81st Street is currently configured as a triplex used as a high-end art gallery with rental apartments above. There are separate entrances for the gallery which opens to a two-level garden and the apartments. All leases in the building are free market.
The building is located between Fifth and Madison Avenues across from the Metropolitan Museum in the world famous Upper East Side art corridor. Luxury retail shops and gourmet restaurants are close by on Madison Avenue and the tree-lined adjoining side streets. Central Park is steps from the front door.
Set-up for 22 East 81st Street
The garden floor is comprised of large eat-in catering kitchen with fireplace and access to a 527 square foot landscaped south garden; 2 half-baths; laundry; mechanical and electrical rooms; and generous storage. It is the first floor of the triplex apartment.
The first floor has the stair entry to apartments 2 through 7 and a separate entry to the second floor of the triplex. The triplex second floor has a grand entry foyer with storage and a half-bath and a sunny square living room with fireplace that overlooks the double height kitchen and the garden. A small terrace off the living room completes the floor.
The second floor is the third floor of the triplex apartment. It contains the primary bedroom with fireplace and en suite bathroom; guest bedroom the ensuite bath; and hall that overlooks the living room below.
The third floor consists of 2 apartments; a generously sized 1 bedroom with fireplace and a large studio with fireplace.
The fourth floor consists of two 1 bedroom apartments; each with a fireplace the the south facing bedroom with a terrace.
The fifth floor consists of two 1 bedroom apartments. The north facing apartment has a fireplace. Each apartment has skylights in the kitchen and bathroom.
Income and Expenses
Rental Income: $289,700.00. All apartments are rented.
2020/2021 Real Estate Tax: $137,070.12
Water and Sewer: $3,863.98
Fuel (annual): $1,311.01
Electric (annual): $12,398.80
Insurance (annual): $12,234.03
Maintenance and Repairs (annual): !5,345.92