Multi Family, 132 W 73RD Street #, Lincoln Square - Real Estate New York

Description

CAN BE DELIVERED VACANT! Coldwell Banker Warburg is pleased to present the exclusive offering of 132 West 73rd Street, a historic 4-story + basement brownstone located in the heart of Manhattan's Upper West Side, just moments from Central Park. Built in 1884 by renowned architect James Edward Ware, this 5,580-square-foot property sits on a 1,635-square-foot lot between Columbus and Amsterdam Avenues in a landmarked row of Neo-Grec residences.

Currently configured as a legal 8-unit walk-up with a finished English basement and cellar, the property can be delivered vacant. It offers a rare opportunity for investors to reposition or convert the building. It is also ideally suited for conversion to a luxury single-family mansion, capitalizing on its historic charm, flexible interior layouts, and favorable zoning and tax advantages under Tax Class 2B, Building Class C4.

The building underwent $100,000 in capital improvements between 2019 and 2022, including a new roof, skylight, repointed facade, restored cornice, and window restorations. The residence also features oak strip flooring, a grand original staircase, 10-foot ceilings, and a fully operational wet sprinkler system.

As currently configured, 132 West 73rd offers a versatile unit mix of studio and one-bedroom apartments, as well as a spacious garden-level 2BR and a floor through 2bedroom on the top floor. Zoned R8B and Tax Class 2B, the building benefits from lower taxes if converted to single-family use, enhancing its value proposition for owner-users.

With a projected pro forma NOI of $282,094, investors may choose to re-lease units at market rents, adding upside to a fully renovated asset, or pursue conversion to condominium ownership or a high-end townhouse conversion, restoring its original grandeur. Its central location near Central Park, Lincoln Center, and multiple subway lines (1/2/3/B/C) ensures lasting appeal to both renters and buyers.

Situated within the Upper West Side / Central Park West Historic District, the property's architectural pedigree and historic context are matched by its proximity to cultural and recreational amenities. With vacant delivery, rich architectural detail, and flexible redevelopment paths, 132 West 73rd Street offers a compelling value-add opportunity in one of Manhattan's most coveted neighborhoods.

Listing courtesy of Coldwell Banker Warburg ...
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