38 West 26th St. PH12 $7,750,000

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    38 West 26th St. PH12 New York, NY 10010

    • 2 Beds
    • 2 Baths
    • 5,500 sq. ft.
    • Co-Op
    • MLS# 3954610
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    Views: 2 Days On Site: 137

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    Property Details

    Truly one-of-a-kind 5,500 square foot PRE-WAR PENTHOUSE LOFT just a block away from Madison Square Park This expansive full floor loft with four exposures and soaring ceilings was meticulously renovated by the owner, a renowned German artist in 1999. A keyed elevator opens onto private landing hallway on 12th floor and the massive 60' by 99' floor plate. Ceiling heights range from 10'10" to 20'10", and 22 oversized windows and two large skylights flood the entire loft with light in this free-standing building. The loft was originally designed for the owner's live-work and international pied-a-terre lifestyle by the architect, Reinhold Martin. The South side of the loft spans 110' of the frontage from East, South to West with 12 large windows. This open public space consists of an extravagant living area with a vintage wood burning fireplace, a large chef's kitchen, a dining area, and a bookshelf-lined library. Two bedrooms with abundant light are on the East side of the loft, and two full bathrooms decorated with Moroccan tiles are on the West side. Appliances include a 36" wide SubZero refrigerator, a professional Thermador oven, a Miele dishwasher, and Miele washer & dryer. The North side of the loft is another sensational scaled open space, once used as the artist's studio and office. It can easily be turned into multiple bedrooms or a large primary bedroom with ensuite bathroom, as the plumbing risers in the Northwest corner of the loft are already in place. This impressive loft with its open design provides endless possibilities to create your own layout. The design of the space and the custom-built cabinetry by Walter Nikkels are a perfect representation of the Bauhaus design with exceptional attention to detail and craftsmanship. The flooring throughout the loft is made up of hand selected planks of rare rift-sawn thick white oak and is in excellent condition. The building has a common roof deck one floor up which can be easily reached by the common stairs. Purchasing the part of the roof deck can be negotiated with the board. 38 West 26th Street is a former leather sawing factory built in 1909. The building has 16 residential units, one commercial unit, two elevators and a service elevator, a full-time superintendent, and video intercom system. The building has undergone numerous improvements in the recent years, including Local Law 11, facade repair, exterior iron work, elevator upgrades, sidewalk replacement, installation of a new water tank, a new roof, and new front entrance doors. Future upgrades include a new lobby and a virtual doorman system. With significant financial reserves in place, the board plans these improvements without the need for of an assessment or increase in common charges. This very well-run Co-op has incredibly low monthly common charges of approx. $1.00/mo. per square foot due to substantial rental income received from the ground floor tenant, a high-end restaurant. The recently negotiated market rent lease has 15 years remaining. The Co-cp allows pets, Pied-a-terre, financing, guarantors, co-purchasing, and parent gifting. There is no flip tax, and alterations and unit improvements are typically welcomed by the Board. 38 West 26th Street is perfectly situated where uptown meets downtown, and seconds from pedestrian Broadway and historic Madison Square Park, a stunning seven-acre urban oasis and cultural hub. Enjoy the best of city living with world-class shopping, top restaurants, entertainment, and grocers such as Eataly, Fairway and Whole Foods. Transportation options nearby include the N, R, W, F, M and 6 subway lines, and PATH trains.

    • General Features
      • Year Built 1909
      • Real Estate Tax 0
      • New Development No
      • Neighborhood NoMad
      • Hoa Fee 5690.00
      • Floor Number 12
    • Building Features
      • Building Class D0
      • Building Bike Storage No
      • Building Gym No
      • Building Garage No
      • Building Elevator Yes
      • Building Doorman Yes
      • Building Storage No
      • Building Rooftop Yes
      • Building Prewar Yes
      • Building Pool No
      • Building Pets Yes
      • Building Laundry No
      • Number of Rooms 7.00
      • Number of Half Baths 0
      • Number of Building Units 12
      • Number of Building Stories 12
      • North Exposure Yes
      • Has Outdoor Space No
      • Has Fireplace Yes
      • Garden No
      • Full Floor Yes
      • Foyer No
      • East Exposure Yes
      • Dishwasher Yes
      • West Exposure Yes
      • Unit Terrace No
      • Unit Number PH12
      • Unit Laundry Yes
      • Unit Garden No
      • Unit Balcony No
      • South Exposure Yes

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    Neighborhood

    10010 (New York) Demographics

    36 Median Age
    91,086 Population Density (per sq. mile)
    79% College Educated
    $139,188 Estimated Median Income
    4,999 Estimated Total Home Owners
    11,500 Estimated Total Renters
    30% / 70% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    34,763 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $1,940,000 Median Sales Price
    19 Homes Sold
    24 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $7,750,000
        12/1/2022 3:29:57 PM Price Reduced Source: Multiple Listing Service New Value: $7,750,000 -8.82%
        9/21/2022 11:33:00 AM New in Database Source: Multiple Listing Service New Value: $8,500,000

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.