The Connoisseur Building 36 E 73rd St 5 Unit Apartment Building $13,191,444 CAD ($2,638,289 CAD/Unit) 6.32% Cap Rate New York, NY 10021

Elegantly located just off a prime stretch of Madison Avenue on a charming tree-lined block, the building is zoned for both residential and multiple business classes, providing a unique opportunity to redevelop this prime 20' 87' parcel with app. 6,730 ft of interior space and app. 500 ft of exterior, for a total including the lower level of app. 8,070 ft of interiors.
Presently configured with 2 floors noted antique gallery with app 1,340 ft footprint on the ground level and 1st floor, and app (Commercially zoned). 1,340 ft of lower-level space, highlighted by prominent glass vitrines at street level; the building comes with a separate residential entrance that leads to elevator to 3 residential units (5 units total).
A large-sized elevator, designed to transport wide-ranging artworks and furniture, connects every level along with a separate staircase. The 3 upper residential floors currently contain 3 full-floor rental apartments, which can easily be combined into a sprawling triplex with roof deck or converted into other layouts.
Based upon current zoning and entitlements, the building plot comes with a total of 10,500 ft of Air Rights, enabling 1 additional level of interior space (half floor), plus a developable roof terrace.
Adjacent to the premier stretch of high end Madison Avenue boutiques, with convenient access to the Upper East Side's premier cultural and recreational landmarks, the property benefits from robust foot traffic and efficient links to public transportation.
This elegant and adaptable property awaits new owners with a new vision to maximize its potential and underlying value.
Possibility of building the full lot, as and additional half a floor with a terrace.