In this month’s edition of Great Spaces, we’re highlighting a contemporary masterpiece that takes sophisticated and elegant city living to a whole new level.
Location: New York City, New York
Listing Price: $7.995 million
Features: 3,448-square-foot condominium with four bedrooms and four bathrooms.
Added Appeal: Interior perks abound with radiant heated flooring and a state-of-the-art smart home system, while luxury building amenities include a children’s playroom and exercise room equipped with top-of-the-line Technogym and Peloton equipment.
The secret is out on this newly renovated 17th floor residence in one of the most refined neighborhoods in all of New York City. Located in The Charles, a white-glove boutique condominium, this First Avenue home is the epitome of living the high life with its stunning views, upscale location, elegant living spaces and many extras.
Upon entering the space, you’re immediately enveloped by natural light that floods through the floor-to-ceiling glass windows, with full views of the East River to the east and the bustling city scene of Fifth Avenue’s Museum Mile to the west. The great room, extending over 50 feet, boasts an open layout that presents the perfect space for entertaining or hosting an inspiring artist’s retreat.
The pristine white kitchen, with its enormous Italian marble island and high-end Miele and Subzero appliances, contrasts beautifully against the accented wood furnishings throughout the space. The primary suite offers a much needed respite with its spacious bedroom and walk-in closet, featuring an oversized windowed bathroom complete with dual sinks, a stall shower and a soaking tub. The three other bedrooms also contain large closets and en suite bathrooms.
RISMedia spoke to listing agent Joshua D. Arcus, a licensed associate real estate broker with Brown Harris Stevens—a leading luxury brokerage firm serving New York City and multiple cities along the East Coast. Here, Arcus shares what makes this property one of the most coveted spots in the city as well as what went into pricing this one-of-a-kind space.
Joey Macari: What makes this a Great Space?
Joshua D. Arcus: Three things. First, the size and openness of the kitchen/dining/living room, plus the den off of that provides a vast amount of space to entertain and enjoy the apartment. Second, the size and layout of the primary suite, and third, the “unexpectedness” of finding a loft-like space on the Upper East Side.
JM: In what ways does this listing suggest a unique “lifestyle property?”
JDA: Anonymity is the hardest amenity to come by for many people, and this is a nondescript building on the Upper East Side with very few owners, all private elevator landings, etc. It is a lifestyle of choice that most people don’t get when they’re looking for modern condominiums on the Upper East Side or anywhere in NYC. Standing on the corner of First Avenue and 72nd Street, prospective residents immediately feel the dynamic energy of the established and beloved neighborhood. Both the Avenue and side streets offer a wide range of dining options, from longtime neighborhood favorites like Nino’s and Petaluma, to newcomer hotspot Mission Ceviche. The Charles also benefits from immediate proximity to the newly refurbished East River Esplanade, which provides walking and biking paths as well as playgrounds, gardens and dog runs.
JM: What advice would you give potential buyers looking to own a condo?
JDA: Someone who wants to buy only in a condo probably has reasons for that related either to privacy or other non-financial requirements a co-op might have. The benefit is that you don’t have to go through the rigmarole of a co-op interview/board package, but then, no one else did either.
JM: What factors did you consider before arriving at the listing price?
JDA: One main factor was replacement cost. In other words, if someone wanted to buy the cheapest condo that comes close to this apartment, what would that cost be? Then, what would they have to spend (especially in 2023) to outfit it in the same way? Our price reflects a discount compared to that exercise.
JM: In terms of market sales, what ongoing trends do you see in your area?
JDA: We’re seeing a huge uptick in activity, and inventory is getting tighter than it already is. We’re hoping for more inventory in the months ahead.