324 E 18th St, New York, NY 10003

Property Description

GRAMERCY TOWNHOUSE OPPORTUNITY NEW TO MARKET! A fabulous opportunity to secure a 21-foot-wide brick townhouse ideally situated on a picturesque, tree-lined block in coveted Gramercy, around the corner from Stuyvesant Square and moments from Gramercy Park. Built in 1901 and delivered vacant, this exceptional property offers a blank canvas from which to create a magnificent single-family residence or an income-producing investment property, with generous proportions, substantial development potential and the freedom to reconfigure and customize the interiors according to the vision and needs of its next owner. The existing structure measures approximately 21 feet wide by 46 feet deep and occupies a 21-foot by 92-foot lot, providing more than 3,800 SF across four stories above grade, in addition to a basement and a large private garden. With more than 5,700 SF of maximum buildable floor area above grade, subject to all applicable approvals, the property offers extraordinary potential for expansion and transformation, whether conceived as a grand private home or a beautifully reimagined multifamily residence. Well prepared for its next chapter, the townhouse is in excellent structural condition, benefitting from a newly installed roof, several newly replaced windows and extensive recent masonry improvements, including new brickwork on its front and rear facades and the application of a hydrophobic protective coating. Attached here is a proposed floorplan demonstrating a single family home with 4 bedrooms and an elevator, as an example of what you can create! Nestled on one of Gramercy's quiet and lush townhouse blocks, 324 East 18th Street offers a rare balance of serenity and urban energy. Stuyvesant Square is around the corner, with Gramercy Park and the National Arts Club just minutes away. Close proximity to Irving Place, Union Square, Lower Fifth Avenue and the East Village provide unparalleled access to some of Manhattan's most compelling dining, shopping and cultural destinations, including Union Square's year-round Greenmarket, multiple seasonal markets and a marvelous Whole Foods. Transportation is abundant with the 4, 5, 6, N, R, W, Q and L trains at Union Square and numerous buses available along Third and Second Avenue. All of downtown living is within easy reach while preserving the quiet character of a leafy Gramercy block.