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42 West 71st Street
New York, NY 10023
Jasmine Ji with Compass, original listing -
$18,500,000
Conventional
Property
Bedroom
5
Bathroom
Full: 7
Property Type
Conventional
Square ft
8560 Square Feet
Property Description
The ONLY Elevator, Renovated 20-foot-wide townhouse next to Central Park for sale! Welcome to 42 West 71st Street, an exquisitely renovated five-story single-family mansion located on one of the premier blocks near Central Park on the Upper West Side. Filled with natural light and surrounded by townhouses, this grand 20 wide home features impressive high ceilings on every floor, offering over 8,560 square feet of magnificent interior living space, plus an additional 1,700 square feet of outdoor space including a south garden, terrace, and roof deck. Designed by internationally renowned architect Dirk Denison, this house masterfully combines high-quality design with premium materials. The meticulous and elegant renovation showcases a contemporary interior aesthetic with hardwood floors, exotic Italian marble in the kitchen and baths, and top-of-the-line fixtures and appliances. Every detail has been thoughtfully considered, from the newly built rear glass facade to the exceptional Poggenpohl chef s kitchen. The townhouse is equipped with an elevator that services all floors from the basement to the top level. The new owner will enjoy multiple outdoor spaces, including a beautifully landscaped south garden, a spacious roof terrace with a wet bar and open city views. The home is fully wired for smart home technology, including TV, phone, data, cameras, and Wi-Fi. All windows are prewired for motorized shades, allowing for customizable design and functionality. Other standout features include Lutron lighting, a Sonos audio system, a 1,000+ bottle capacity wine cellar, and a 14-zone HVAC system. Situated on a picturesque, tree-lined townhouse block in the low West 70s, this fantastic home offers easy access to Central Park, Lincoln Center, Columbus Circle, and some of the best dining and shopping in New York City. Layout: Basement: The finished basement features a fitness room or a large recreation room with an adjacent half bath, a generous wine cellar with 1,000+ bottle capacity, a sauna room, a laundry room, a staff room, ample storage spaces, and the building s mechanicals. Garden Floor: The beautifully planted south garden receives abundant natural sunlight throughout the day. This floor includes a cheerful sunroom and a dining room with a fireplace adjacent to the marble Poggenpohl chef s kitchen with top-of-the-line Wolf and Sub-Zero appliances. A relaxing family room and a marble guest powder room complete this level. Parlor Floor: The stunning Parlor Floor boasts 12-foot ceilings and three gracious fireplaces. Enter through the foyer to the reception area with grand custom-built bow-front windows and a marble guest bath. The magnificent living room at the rear of the home gleams with southern light pouring through the glass facade. Third Level: Tranquil and quiet, the luxurious primary bedroom suite and an office occupies the entire 3rd floor. The bedroom boasts a beautiful marble bathroom with a TOTO Washlet, a massive walk-in closet and a fireplace. The office has a dry bar and a windowed 5-piece bathroom with a separate water closet. Fourth Level: This level features two bedrooms, each with their own en suite baths. The south bedroom has a private terrace. Fifth Level: This level features two bedrooms, each with their own en suite bath. In the center of the fifth floor, there is an open space with a wet bar and beautiful natural light pouring through a skylight. This space can be used as a study, lounge or entertainment area. Roof Level: This private rooftop, equipped with a wet bar, is perfect for entertaining and offers stunning views of the city skyline. Note: The floor plan is for demonstration purposes only. Please verify the exact measurements and total square footage with your architect.
Property Information
Lot Size
0 sqft square ft
Property Type
Residential-Single Family Residence
Year Built
--
MLS Number
--
Location
Address
42 West 71st Street
City
New York
State
NY
Zip Code
10023
County
NEW YORK (LOWER MANHATTAN)
Listing
Provider
Name
Phone
(917) 808-5286
Office Name
Office Phone
Agent Name
Jasmine Ji
Agency Phone
(646) 586-8268

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.