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A blog from CityRealty (Links below will take you to the 6sqft site)

The Forum, 343 East 74th Street, #PH1D

$1,350,000 ($725 per ft2) -10% | 3 beds, 3.5 baths | Approx. 1,862 ft2
94 days on Market

Key Details

  • Listed Jan 14, 2021
    Last Price Change -10% ($150,000) on Apr 13
    Days on Market 94
    Building Type Condop
    Neighborhood Lenox Hill
  • Monthly Maintenance $5,438
    Minimum Down Payment 10%
    Doorman FT Doorman

Description

PRICED TO SELL, NO BOARD APPROVAL, CONDO RULES. This light-filled and recently renovated 3 bedroom, 3.5 bathroom 1862 SF duplex penthouse is now on the market for under $806 per square foot. On the corner of the building with open city views to the South and West, the apartment is very bright throughout the day.

Additional apartment features include high ceilings, top end appliances, a wood burning fireplace, stunning large windows throughout and generous storage space.

The lower entry level features an eat in kitchen open on two sides to a large living room. A powder room is conveniently located nearby and on the opposite end is one of three bedrooms with its own en suite bathroom.

This room is currently being used as a home office and playroom but can easily accommodate a queen bed. The kitchen has been completely rebuilt and is outfitted with custom cabinets, a Wolf 5 burner range, Miele refrigerator and oven and mosaic custom tile work. An incredible feature of the dining area is a double height slanted window which stretches from the lower level to the upper level of the home.

A custom staircase leads to the upper level where there is an oversized corner primary bedroom with a large walk-in closet. A five fixture en suite bathroom has deep soaking tub and double vanity. A third bedroom with its own en suite bathroom is located on the opposite end.

A new owner has the option of entering the home on this level as well. Modern conveniences include low voltage automated shades and an in unit washer and dryer.

This penthouse three bedroom opportunity represents an excellent value driven purchase opportunity versus the rental alternative.

THE BUILDING AND NEIGHBORHOOD

The Forum building amenities include a 24-hour doorman, live-in superintendent, parking garage, common roof deck and fitness center with steam and sauna. Neighborhood highlights include John Jay Park, great restaurants and shops and close proximity to the Q train and easy access to the FDR Drive. There is no board approval required and all purchase scenarios as well as unlimited subletting are welcome at The Forum.

LANDLEASE DETAIL

The Forum was granted a 149 year land lease with the Greek Orthodox church as landlord. There are 116 years remaining on the lease and its payments represent only 12% of the building's operating budget (2018). The building ground rent increases are very predictable with an average 2% increase per year annualized.

The next increase will not occur until September 2027. *Buyers should consult their attorney on land lease details.

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Apartment Amenities

  • City View
  • Washer/Dryer in apt.

Estimated Monthly Cost

About The Forum, 343 East 74th Street

57

The Forum, 343 East 74th Street has received a CityRealty Rating of 57, 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

21
Out of 44
+
21
Out of 36
+
15
Out of 39
=
57
Out of 119
 

Architecture Rating: Points Breakdown

Exterior:
Unattractive 3 out of 8 points
Retail Quality:
None 2 out of 5 points
Canopy Entrance:
Dramatic 3 out of 3 points
Alterations:
None 2 out of 2 points
Plaza Or Atrium:
Attractive 2 out of 3 points
Contextual Design:
No and Bad 0 out of 3 points
Skyline:
Highly Visible 2 out of 2 points
Local Visibility:
Highly Visible 2 out of 2 points
Watertank:
Enclosed 1 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:
Exists 1 out of 2 points
Fenestration:
Consistent 1 out of 1 points
Landmark:
No 0 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:
Attractive / Pleasant 3 out of 5 points
Distance To Neighborhood Center:
Less than 30 blocks 3 out of 5 points
Views:
Open 2 out of 4 points
Neighborhood Ambience:
Attractive 2 out of 3 points
Traffic Noise:
Very Little 3 out of 3 points
Protected Views:
Only Top Floors 1 out of 2 points
Distance To Subway:
More than 5 Short Blocks 0 out of 2 points
Firedepartment Noise:
No Noise 2 out of 2 points
Distance To Supermarket:
3-5 Short Blocks 1 out of 2 points
Distance To Park:
More than 6 Short Blocks 0 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:
Quite Stylish 3 out of 5 points
Units Per Floor:
5-9 2 out of 5 points
Ceiling:
8-9 Feet 1 out of 4 points
Balconies:
Many 2 out of 3 points
Health Club:
Yes 1 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:
None 0 out of 1 points
Door Person:
Yes 1 out of 1 points
Concierge:
Yes 1 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:
Yes 1 out of 1 points
Mixed Use:
No 0 out of 1 points
Non Rectilinear Form:
No 0 out of 1 points
Unusual Layouts:
No 0 out of 1 points
Prewar:
No 0 out of 1 points
Other Amenities:
Many 2 out of 2 points
  • Condop
  • Built in 1987
  • 148 Apartments
  • 25 Floors

Building Amenities

  • Concierge
  • FT Doorman
  • High-Rise
  • Post War
  • Resident Storage
  • Full Service Garage
  • Garden
  • Health Club
  • Rooftop Terrace
  • Washer/Dryer in building
  • Elevator
  • Fitness Center
  • On-Site Parking
  • Outdoor Entertainment Space
  • In-Unit Washer/Dryer
  • Bike Room
  • Fireplaces
  • Live-In Superintendent
  • Terraces / Balconies

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Pros
  • Concierge
  • Balconies
  • Close to Subway
  • Climate-control in apartments
  • Good views from upper floors
  • Health club
  • Garage
  • Roofdeck
Cons
  • Ungainly architecture
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Subways

  1. 6
at Lexington Ave 0.34 miles
About this Building

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