Welcome to Brick Underground’s luxury pick of the week, a feature spotlighting a condo, co-op, or townhouse for sale with an asking price of at least $3,240,000, the current entry threshold for luxury apartments in Manhattan. If you’re in the market for a high-end abode, you should know that while sales have slowed considerably over the past couple of years, that trend is starting to reverse as sellers come to grips with the new market reality and adjust their prices accordingly. It's good news for your wallet—just be aware that many luxe listings won’t linger on the market indefinitely. For more information, check out Brick Underground’s tips on buying a luxury apartment in NYC.
If you’re an experienced NYC co-op or condo owner, you’ve likely heard of Local Law 11, also known as the Facade Inspection & Safety Program—which requires buildings that are six stories or taller to have their facades regularly inspected. These inspections may turn up safety hazards, and when they do, they can be expensive to remedy, sometimes running millions of dollars.
So a savvy buyer should ask about Local Law 11 work—and be on the lookout for apartments like this one, 180 East 79th St., 14G, in Lenox Hill, in a prewar building that recently completed Local Law 11 work and passenger elevator replacements—and all are fully funded.
The renovated co-op is one of only two original, seven-room apartments, and it has three bedrooms, three and a half baths, and is asking $4,495,000, after a price cut of $255,000 about 11 weeks ago. Monthly maintenance of $5,816.
According to StreetEasy, the 2,371-square-foot co-op has been on the market for about four months.
There are two steps going down to the living room/dining room with a nine-foot, seven-inch ceiling, a wall of windows and a wood-burning fireplace.
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The original dining room is now a TV room but could be a formal dining room or fourth bedroom.
The chef’s kitchen was expanded into the original maid’s room and has high-end appliances. There’s a powder room and washer and dryer off the kitchen.
There are three bedrooms in a separate wing. The master bedroom has an over-sized bath and large closets. The second and third bedrooms each have a renovated bath.
There are generous built-ins and large closets, plus central AC in all the entertaining spaces and the ability to add it to the bedroom areas.
The building has two apartments per elevator bank with manned elevators, a full -time doorman, live-in super, plus a staff of 20 others. There’s a fitness room, several bike rooms, and individual tenant storage bins. Pets are welcome and pieds-à-terre are considered on an individual basis.
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