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131 Fifth Avenue, #701

$5,250,000 ($1,500 per ft2) -6.3% | 4 beds, 3 baths | Approx. 3,500 ft2
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177 days on Market

Key Details

  • Listed: Nov 7, 2023
    Last Price Change: -6.3% ($350,000) on Mar 15
    Days on Market: 177
    Building Type: Cooperative
    Neighborhood: Flatiron/Union Square (Manhattan)
    Listing viewed 125 times
Monthly Maintenance: $5,780 ($1.65/ft2)
Est. Monthly Mortgage: $27,316
Total Est. Monthly Carrying Cost: $33,096 ($9.46/ft2)
Note: the above is based on a down payment of 25% ($1,312,500), which is the minimum amount permitted by the building.

Insider Highlights

  • Building Amenities: The building offers a video intercom and keyed elevator access, a full-time super, laundry, a bike room, resident storage, and a washer/dryer. It is pet-friendly and permits pied-a-terre, guarantors, parents purchasing for children and co-purchasing, subject to board approval.
  • Security and Comfort: The property is equipped with a built-in Gemini security system, central air conditioning with three zones, and two separate entrances. The building also offers a keyed elevator onto a semi-private landing.
  • Financial Stability: This is a financially sound co-op with no mortgage and a retail cooperative covering approximately 33% of the building’s expenses. It is a low maintenance co-op loft.
  • Location: Situated in the desirable Flatiron/Union Square neighborhood, this property is close to Madison Square and Gramercy parks, excellent public transportation, and a variety of restaurants and boutiques. It's also near the best dining and shopping in the city.
  • Property Features: This penthouse triplex offers 4 bedrooms, 3 bathrooms, an office space, a grand living space with 11-foot ceilings, a SieMatic Chef’s kitchen, a home theater, a south-facing windowed office, a generously scaled library/formal dining room, and a full laundry room with a dog washing station. The primary suite boasts a gas fireplace, en-suite bathroom, walk-in closet, and a private terrace.
  • Outdoor Space: The property features private outdoor space, including a private terrace attached to the primary suite.

Description

Penthouse Triplex with private outdoor space: 4 Bedrooms + Office and 3 Baths Co-op Loft and with Low Maintenance. Keyed elevator onto a semi-private landing brings you to the grand living space with 11-foot ceilings. This massive expansive space has an enormous SieMatic Chef’s kitchen with top-of-the-line appliances including a 60-inch range with 6 burners, griddle and grill, plus ovens and a vented hood. Two Bosch dishwashers, two sinks, a 36” Subzero fridge and a 36” freezer, pasta arm, and two garbage disposals.

Acres of counterpace and counter seating for your friends to enjoy the culinary results. Adjacent is an open, south facing and sunny living space with room for multiple seating areas. Entertaining is a breeze with ample square footage allowing for a grand piano, a home theater with ceiling projector and retractable screen and additional reading/seating nook. Adjacent to all of this open volume is a south-facing windowed office, a generously scaled library/formal dining room with tons of cabinetry and bookshelves as well as a built-in wine fridge. Also, a cozy guest/staff bedroom which is adjacent to a full bath.

The second floor has an open landing/study, two bedrooms with Southern and Eastern exposures, and a full bathroom. There is also the rarely available full laundry room with a dog washing station. The ceilings are 9’6” and a separate entrance option. The primary suite and terrace span the entire third floor.

The oversized bedroom features a gas fireplace, en-suite bathroom with double sinks, tub, and stall shower, a walk-in closet, and a private terrace. The primary suite is efficiently designed with all the essentials including privacy from the rest of the unit. The Southern facing terrace is a clean opportunity to reimagine as your own getaway.

This rare triplex offers central air conditioning with three zones, built-in Gemini security systems, and two separate entrances. Originally two apartments seamlessly combined, these could separate in the future if needed. 129-131 Fifth Avenue is an 8-story 21-unit cooperative building in the heart of Flatiron- located on Fifth Avenue with the primary entrance on tranquil 20th Street.

The building offers a video intercom and keyed elevator access, full-time super, laundry, and a bike room. This co-op is extremely financially sound with no mortgage and a retail cooperative covering approximately 33% of the building’s expenses. Between Union Square and Madison Square Park, this building is situated near the best dining and shopping this city has to offer. The world-famous Flatiron building one block away is planning a conversion to luxury condominiums and will join the ranks of 10 Madison Square West and 212 5th as top luxury neighbors.

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Listing Agent (Seller's Representative)

Listing courtesy of Sothebys International Realty

Pricing History

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About 131 Fifth Avenue

75

131 Fifth Avenue has received a CityRealty Rating of 75, based on:

 
Architecture

Anything above 30 is remarkable, from 20-29 is distinguished and from 11-19 is average, while below 11 is below average.

 
Location

Anything above 27 is remarkable, from 18-26 is distinguished and from 9-17 is average, while below 9 is below average.

 
Features

Anything above 22 is remarkable, from 16-21 is distinguished and from 9-15 is average, while below 9 is below average.

Rating Summary

20
Out of 44
+
29
Out of 36
+
16
Out of 39
+
10
=
75
Out of 119
 

Architecture Rating: Points Breakdown

Exterior:
Distinguished 6 out of 8 points
Retail Quality:
Good 3 out of 5 points
Canopy Entrance:
No Canopy 1 out of 3 points
Alterations:
Well Done 1 out of 2 points
Plaza Or Atrium:
None 0 out of 3 points
Contextual Design:
Yes and Good 2 out of 3 points
Skyline:
Not Visible 0 out of 2 points
Local Visibility:
Highly Visible 2 out of 2 points
Watertank:
Attractively Enclosed 2 out of 2 points
Airconditioners:
Not Allowed 2 out of 2 points
Free Standing:
No 0 out of 2 points
Gargoyles:
None 0 out of 2 points
Garden:
None 0 out of 2 points
Fenestration:
No Consistency 0 out of 1 points
Landmark:
Part of Historic District 1 out of 2 points
Unity:
Unrelated Base 0 out of 1 points
Illumination:
None 0 out of 1 points
Water Element:
None 0 out of 1 points

Location Rating: Points Breakdown

Street Ambience:
Outstanding 5 out of 5 points
Distance To Neighborhood Center:
Less than 10 blocks 5 out of 5 points
Views:
Open 2 out of 4 points
Neighborhood Ambience:
Very Attractive 3 out of 3 points
Traffic Noise:
Considerable 1 out of 3 points
Protected Views:
Only Top Floors 1 out of 2 points
Distance To Subway:
Less than 3 Short Blocks 2 out of 2 points
Firedepartment Noise:
No Noise 2 out of 2 points
Distance To Supermarket:
Less than 3 Short Blocks 2 out of 2 points
Distance To Park:
Less Than 3 Short Blocks 2 out of 2 points
Distance To Water:
More than 6 Short Blocks 0 out of 2 points
Shopping:
5 or less Short Blocks 2 out of 2 points
Schools:
No Noise 1 out of 1 points
Noise From Nightlife:
None 1 out of 1 points

Features Rating: Points Breakdown

Lobby:
Minimal but Attractive 2 out of 5 points
Units Per Floor:
3-4 3 out of 5 points
Ceiling:
14 or more Feet 4 out of 4 points
Balconies:
Some 1 out of 3 points
Health Club:
None 0 out of 2 points
Private Gardens:
None 0 out of 2 points
Storage Rooms:
Minimal 1 out of 2 points
Bay Windows:
None 0 out of 1 points
Fireplaces:
Some 1 out of 1 points
Door Person:
None 0 out of 1 points
Concierge:
None 0 out of 1 points
Elevator Person:
None 0 out of 1 points
Recreational Roof:
None 0 out of 1 points
Driveway:
None 0 out of 1 points
Maids Room:
None 0 out of 1 points
Catering:
None 0 out of 1 points
Garage:
None 0 out of 1 points
Mixed Use:
Yes 1 out of 1 points
Non Rectilinear Form:
No 0 out of 1 points
Unusual Layouts:
Some 1 out of 1 points
Prewar:
Yes 1 out of 1 points
Other Amenities:
Some 1 out of 2 points

Building Amenities

  • Pre War
  • Resident Storage
  • Washer/Dryer in building
  • Elevator

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Pros
  • Distinguished former Lord & Taylor building
  • Unusual and large layouts
  • Some fireplaces
  • Some duplexes
  • Superintendent
  • Keyed elevator
  • Close to Madison Square and Gramercy parks
  • Good public transportation
  • Convenient to many restaurants and boutiques
Cons
  • No sidewalk landscaping
  • No roof deck
  • No doorman
  • No roof deck
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Subways

  1. N
  2. R
at Broadway 0.15 miles
  1. 6
at Park Ave 0.23 miles
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  2. F
at 6th Ave 0.25 miles
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  2. 4
  3. 5
  4. L
at Broadway and 16th 0.26 miles
  1. 1
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  3. 3
at 6th Ave and 16th 0.28 miles