Thursday, March 2, 2017

On 3rd Avenue, rooftop cottage back in play, though now it's $19k monthly

Just about one year ago, the penthouse cottage atop the building that houses Kiehl's on the northeast corner of Third Avenue and 13th Street hit the rental market for $17k a month...

The 1,972-square-foot rooftop duplex is once again available as a rental — but this time the asking rent is $19k a month.

Via Corcoran...

Rent an iconic penthouse, featured in a number of publications for its unique rooftop cottages perched atop this historic boutique pre-war condominium. Penthouse 4CD is a breathtaking light-filled, three bedroom, three bath duplex with four wood-burning fireplaces and two private garden terraces totaling 795 square feet.

This loft-like home features soaring 11'8" ceilings, exquisitely restored exposed brick, pristine hardwood oak floors, and carefully crafted carpentry throughout. Spanning nearly forty feet, with bright South and West exposures, the corner living and dining room are separated by a magnificent brick archway and bookended by two gracious wood-burning fireplaces.

The place is available furnished — short term or long term. The owner is listed as Keyland Ny LLC, who bought the unit in 2015 for $4.4 million.

The landmarked building, constructed in the 1850s, is known as Pear Tree Place. It was converted to condos in 1986, according to Streeteasy.

Previously on EV Grieve:
Live in tranquil cottages overlooking … 3rd Avenue (but still)

Updating: Fire reported on the rooftop at Kiehl's on 3rd Avenue

3rd Avenue penthouse cottage returns to market as a $17k monthly rental


Anonymous said...

Classically the brokers have this still listed at both prices on Streeteasy.

The pros: Freaking amazing apartment. Land-marked building. Right above Kiehls so no excuse to be out of facial fuel.

The cons: The price. The awful proximity to Penny and Brazen. Gluttonous size. And to take the cake; it is listed for short term too, just another LLC parking their money as an investment property.

Anonymous said...

I gotta start meeting the people who can afford these rents.
Maybe I could edit their memoirs.

Anonymous said...

Isn't this the same apartment that burned down not too long ago?

Anonymous said...

$19000/mo barely covers the mortgage on the purchase price. Add in the $4,000 monthlies and this is effectively rented at a loss, even if it achieved $19000.

JQ LLC said...

3 bedrooms, why not make it a homeless shelter. 87 more to go.

Anonymous said...

Doubt this was financed. Parked money to diversify assets and actually have collateral compared to a bunch of pieces of paper and numbers on a screen. But fair point, investing like this is tricky, brooklyn or an actual prime downtown location woudl have been money better spent.

Unknown said...

From what I understand, the fire rather miraculously avoided damaging the apartment itself.