Building: 274 Third Avenue

A truly incredible townhouse in the heart of Gramercy, this is a rare opportunity to own a stunning single-family home with 3,200 square feet of living space plus 1,800 square feet of income-generating retail space, and 900 square feet of below ground (cellar) space

Upon entering the massive great room, you’ll immediately know you’ve entered a home of distinction and style, where no detail has been overlooked. To the left is an expansive, sunken living room warmed by a distinctive modern fireplace and anchored by three sets of French doors leading to Juliet balconies. To the right, you’ll be drawn to the formal dining area set off by an elegant, black lacquer staircase curving to the upper level, serving as both a functional and sculptural focal point to the home. With the ceiling open to the upper level, the staircase provides an inviting canopy-like quality to the space below. Just beyond lies the stunning kitchen a modern masterpiece in glossy red cabinetry, sleek black counters and professional grade stainless steel appliances, including two Sub-Zero refrigerators, and two ovens, a gas cooktop and griddle by Wolf. Two sinks, a dishwasher and massive center island with additional cooktop and convenient breakfast bar seating make this a kitchen that will please even the most discerning chef. Doors leading out to a beautiful, 20-foot by 13-foot Mediterranean terrace, with built-in outdoor grill, highlight how well-suited the home is for gracious entertaining, providing a natural flow from indoor to outdoor and from dining to relaxing.

Ascend the bold staircase to access the home’s private quarters via a glass catwalk hallway, which lends incredible openness and airiness to the entire residence. The lavish master suite boasts a private balcony and an opulent en suite bathroom, set off by glass brick and featuring a dual-sink vanity and inviting raised-platform whirlpool bathtub surrounded by windows. Two additional spacious bedrooms with large closets, a full bathroom, additional storage and a laundry room are also found on this level.

This three bedroom, two-and-a-half-bath townhouse includes a ground floor retail tenant in place with a 10-year lease. Current rent is $9,500 for the first two years, $10,500 for the third year and increases of 3 percent per year from the fourth year on.

Set in the middle of Gramercy Park, one of Manhattan’s most esteemed neighborhoods, with immediate access to Union Square and the Flatiron District, there’s seemingly no end to the nearby restaurants, shopping, entertainment and cultural venues, including Gramercy Tavern, Eleven Madison Park, Eataly. Rose Bar and the original Shake Shack. Union Square offers access to the N/Q/R, 4/5/6 and L trains, placing the rest of New York City a subway ride away.

Description Provided By: Ashish Sarin