100 West 57th-Carnegie House

I remember that I looked there a few years ago, before I bought in the Parc Vendome. (I don't tend to work in Midtown, but I live there.)

Carnegie House is a land-lease building -- the building rents the land it sits on, and you pay your portion of that rent as part of your common charges -- so the issue is when that lease comes up for renewal and what you think the charge will be.

The vibe I got was very pied-a-terre-y, but I feel that way about the smaller units in my building too.

ali r.
{downtown broker}

Does anyone know when the land lease is up for this building?

Is there an easy way of knowing if a building is a "land lease building short of getting the co-op or condo info package?

Landlease expires 2067

Ali, as a RE pro, what do you think about land lease buildings? It just seems to throw in one more wild card.

11 sales in one building -- wow. Agree with ali, my friends lived there, it was very pied a terre and the neighborhood is very touristy. That said, they made a nice profit on it during the boom times.

It's a unique building (b/c of landlease, location, tenant mix), so I don't think it's worth using for comps, if that's what anyone is thinking. and it's incredibly ugly, especially compared to the Parc Vendome!