Description

In 1917, Seventh Avenue was extended South to connect Greenwich Village to lower Manhattan, and to create a widened avenue for the construction of the West Side Inter Rapid Transit Line (IRT). The diagonal extension stretching South from Greenwich Avenue resulted in a vast number of triangular shaped lots that decorate the avenue to this day.
54 Seventh Avenue South is one of the only remaining buildings that survived, and pre-dates this massive infrastructure project.
For sale for the first time in nearly three decades, this 3-unit free-market loft building is a rare, and almost fully detached mixed-use property with unbelievable light on 3 sides of the structure, and a 2 car private parking lot.
Setback nearly 20 feet off of the Avenue, the building is situated mid-block on a triangular lot that is located between Bedford, Commerce and Morton Streets. This incredibly private home stretches over 72 feet in length across Seventh Avenue, and has a total of 50 windows.
The new owners have the remarkable opportunity to create a truly one-of-a-kind single-family home with 2 car private parking, and 4 outdoor spaces, or maintain a high income-producing investment property.
With extremely low taxes of just $1,554 a month, this 4-story loft building also offers a traditional front yard, a charming garden, a sprawling rooftop terrace as well as a rear yard. Measuring over 54 feet in height, the residence rises well above the historic Italianate Pure Oil Fueling Station (built 1920), as well as other neighboring townhouses—resulting in sweeping views of Manhattan’s Lower West Side.
Measuring a total of 7,270 interior square feet and 3,535 exterior square feet, the building currently consists of 2 distinct residential units, 1 commercial unit and 4 outdoor spaces. The residential units are free-market and will be delivered vacant. The commercial unit is a high-end fashion designer, and has less than 2 years remaining on its lease.
Unit 3 : 3 BED / 3 BATH Duplex with a Private Rooftop Terrace Spanning across more than 2,900 interior square feet, plus an additional 1,450+ square feet of private rooftop space, the top 2 floors of the building features 3-4 bedrooms and 3 bathrooms. With light exposures on 3 sides of the home, this stunning space is outfitted with a traditional Japanese Yojohan Tatami room, wood beamed ceilings, original exposed brick, 12ft – 13ft ceilings, a brushed steel staircase, a formal laundry room, a tatami office or additional guest bedroom and spacious entertaining quarters.
The master suite stretches across more than half of the top floor, and features 12 windows, a traditional Japanese Tatami Room, dual walk-in closets and a windowed ensuite bathroom with double sinks, a deep soaking tub, a Japanese washlet toilet and a separate shower. This unit will be delivered vacant.
Unit 2: 2 BED / 1 BATH Full Floor Home Situated on the 2nd floor of the building is a 2-bedroom / 1-bathroom home that is currently occupied as a free-market rental apartment. The bathroom has been newly renovated, and both bedrooms afford a spacious layout and offer terrific light and sizable closets. This unit will be delivered vacant.
Unit 1: Garden Duplex with Commercial Retail Lease Encompassing the 1st floor of the building and the basement, the commercial retail space has a separate entrance tucked behind a wooden gate, a kitchenette, an adjacent rear-yard and a powder room. The retail space is currently occupied by a high-end fashion designer with 2 years on their lease remaining.
Architectural Elements & Building Profile
Built in the 1800s, this storied home has a collection of rare architectural aspects and unique characteristics: - 50 Windows
- 2-Car Private Parking Lot
- Almost a Fully-Detached Building
- 20 ft. Setback off of 7th Avenue
- North, South, West and Eastern Exposures
- 11-13 ft.Beamed Ceilings
- 72 ft. of Unobstructed Frontage on 7th Avenue
- 4 Outdoor Spaces
- Original Exposed Brick
- Traditional Japanese Tatami Room
- Trapezoidal Shaped Building
- Freestanding Clawfoot Tub
- Brushed Steel Staircase
- Triangular Lot
- Rooftop Pergola
Greenwich Village is one of the most historic neighborhoods in Manhattan, which was laid out for residential development in the years following the American Revolutionary War. To this day, Greenwich Village maintains the largest concentration of early and rare New York architecture out of the 5 boroughs. 54 Seventh Avenue South is the only existing building of its kind and from this era available for purchase in the Village.
A full set-up of the property is available upon request.
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$12,495,000 / $1,718 per ft²

Listed on Jan 29, 2020

28 Days on Market

5 Beds / 4.5 Baths / 7,270 ft²

Total Monthly expenses: $1,554

Maintenance: - / R.E. Taxes $1,554

Other Details:

Mixed Use (1-6 Family)

Lot Size: 34.0' x 103.25' Built: 23.5' x 71.0'

Zoning: S1-5, S9

Exclusively listed with: Compass

McKenzie Ryan

mckenzie.ryan@compass.com

(917) 319-7179

Listing Courtesy of Compass View Listing

Unit listing history

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