Interesting listing

Almost perfect office conversion given generous windows, light/air (at least on upper floors) and beautiful architecture. Maintenance seems high - is there a ground lease? 67% deductibility helps I guess. Also, sublet policy is very generous. Is this good or bad? Sloped ceilings limits the use of the walls for cabinets and artwork, effectively shrinking the unit size by maybe 20%. Why is it called an "entertainer’s dream home"?

Guessing maintenance is high due to high percentage share allocation for high floors. One would expect around $6500 in a doorman building. Believe the taxes are high.

Fairly priced. It is advertised as entertainer's dream home due to the dining room size. Price reflects high maintenance. Worth pursuing.

It is indeed an interesting space and I do love the 'gargoyles' outside the windows. Pity it's in FiDi though... blech.

I like it just for the upstairs "closet has a closet which has a closet".

Curious about those pipes...

Closets are reminiscent of the all-foyer mansion.

The high maintenance at this building and some quirky layouts and on high floors was covered here a long time ago, including that some floors had to be accessed by stairs as the elevator did not go to the top. I believe that this is a land lease, and the listing touting "67% tax deductible" maintenance is a bit of joke these days. The units in this building are priced to reflect the maintenance, but still seem to languish.

I believe it is not land lease. This may be one of the floors not accessible by elevator.

Indeed one flight up which should not be a deal breaker. https://streeteasy.com/talk/discussion/10212-55-liberty-ph-899k

It is not a land lease. Ground rent is also not deductible to shareholders. I did a deal here a few years ago - I believe the co-op has a relatively high underlying mortgage. For what it's worth, the unit my buyers purchased for $999K appraised at $1.15MM.

Dan Gotlieb
Digs Realty Group
www.digsrealtynyc.com

In the early 2000's the had to undertake a huge facade restoration project which led to an alost $5 assessment. I attended an auction by the coop where about a dozen owners agreed to walk away from their units if someone would pick up the tab for the assessment.

Sorry - $5 million.

Ah, there is a price to pay to live in buildings with beautiful historic facade!! With current price levels, I think facade repairs would have been a much smaller portion of the total cost of the unit.

The huge open/exposed pipes kill the beauty of the architectural details.