Luxury Outlook 2023
An ambitious exploration into high-end residential markets across the globe.
Welcome home to the TOP floor at 301 East 63rd Street in prime Lenox Hill. 17F has amazing light and is a unique corner unit – the 17th floor features extra windows along the corner of 63rd and 2nd. This apartment boasts both southern & western exposure plus is move in ready. You will enjoy a renovated 2-bedroom split layout with combined living / dining space, foyer and tons of closets. There are windows in both the kitchen and bathroom. The kitchen has great storage with custom wood cabinets, black granite countertops and backsplash, dishwasher, large oven / stovetop and stainless-steel appliances. The bathroom is classically tiled with large medicine cabinet and vanity. Hardwood floors run throughout the apartment and the foyer is plentiful enough for an entry table and work from home space.
301 East 63rd Street is conveniently located 1 block away from the subway, 3 blocks from the water and about 10 minutes from Central Park (the zoo is at 64th). Enjoy easy proximity to Bloomingdale’s, Trader Joe’s, Whole Food and day to day shops + favorite restaurants like JoJo by Jean-Georges, Scalinatella, Le Bilboquet and many casual hot spots and outdoor dining. Building amenities include: Full Time Doorman, Laundry Room, Bike Storage ($25 annually), Resident Super, Pet Friendly (1 dog or 1 cat up to 40lbs - max height 20") and a landscaped Roof Deck (can be rented privately by shareholders).
There is NO maintenance increase for 2023 (10th consecutive year of no maintenance increase despite increases in labor, taxes and supply costs across the city). Heat, water and gas are also included in the maintenance. The building allows pied-a-terre, gifting, guarantors, parents buying for children and co-purchasing (pending board approval). Sublets permitted.
301 East 63rd Street is NOT A LANDLEASE. The land IS OWNED BY THE COOP. The maintenance includes principal and interest payments for the ‘mortgage on the land from the land purchase’. The higher maintenance means that apartments are priced below comparable apartments in the neighborhood to offset the monthly. All recent capital improvements have been paid for with reserves – NO ASSESSMENTS currently or planned.
The original mortgage from the land purchase was $51,000,000. The corporation refinanced the amount of $39,800,000 on March 11, 2020 at a “FIXED RATE of 3.4%” for 10 years with a 30 year amortization schedule. There is also an option to extend for an additional 5 years at a specifically defined formula. As per a recent year end memo the balance will be $36,329,348 the end of the year 2022.
Bulk rate cable & internet are offered at $61.34 through Spectrum to shareholders who opted in to the program – opt in opportunities occur one time per year. There is a bulk rate deal on electricity as well. Total shares in the co-op are 135,879. The commercial space that Health Nuts and the parking garage occupy also offer income to the coop since the space is leased. Financials available upon request.
**For more details SEE building description. Some images in this listing are virtually staged.