The Forum at 343 East 74th St. #11GJK

One of a Kind 3-4 Bedroom Under $2.5MM. Dont wait.
Unusual opportunity to purchase a thoughtfully combined, meticulously renovated, functional and tranquil space. This sprawling corner 2,330 sf apartment on the 11th floor— with South, East, and North exposures and generous common areas and usable space -- features 3 bedrooms, 4 bathrooms and many oversized windows. The South-facing, 35’ wide living/dining room has dark oak floors and a wall of 10 windows (with glass sliding door) which face and open on to a 23’ long balcony. The contemporary windowed kitchen with East morning light has good storage, a 6’ pass-through bar, stone countertops, stainless steel appliances and custom cabinetry. Thoughtfully executed luxurious Master bedroom Suite, in its own private “West Wing” has 2 customized, spa-like ensuite baths (one of which is windowed and refreshing), a massive walk-through closet, a second walk-in closet and yet another South- facing balcony. Beyond the master is a separate windowed South- facing home office. The other wing has two bedrooms, each with their own contemporary ensuite bath and also has a conveniently located separate laundry room with sink, washer/dryer, and storage. A detailed floorplan is included for your study. Carefully built-out, well-maintained, freshly painted and just vacated by seller.

Note 1: The maintenance is a bit higher than usual at $6,685.20 per month, but this is more than offset by a very low acquisition cost of about of only $955 per square foot, making this a value proposition. It is attractively priced on a dollar per square foot basis relative to a new condominium and also attractively priced as a meaningful rental alternative for those 3 bedroom customers who are currently renting and about to renew a lease in an Upper East Side luxury apartment at current rates (and who as luxury renters enjoy no tax deductions and no opportunity to build equity in a home investment). Save the extra cash on this primary residence and buy a country home with it.

Note 2: This is a land-lease building with a long and attractive ground lease at fully known future rents, making it possible to offer this unit at a selling price which, but for the land lease, would be much higher. Ask your CPA why it makes sense to conserve cash and buy this large home.