132 West 73rd Street

Major Price Adjustment 132 West 73rd Street has just been repositioned to $4.25M, making it one of the most compelling value plays in today’s Upper West Side brownstone market. At approximately 5,236 square feet, the property now trades at ~$812/SF, a meaningful discount to nearby comparable sales such as 219 West 70th (~$919/SF) and 138 West 73rd (~$869/SF). This historic 8-unit Neo-Grec townhouse sits on an exceptional block between Columbus and Amsterdam Avenues and offers multiple pathways for value creation—including multifamily income, live-plus-rent use, or eventual single-family conversion. Recent capital improvements (roof, façade, windows, and cornice) substantially reduce near-term capital expenditures, strengthening the building’s already attractive fundamentals. Built in 1884 by acclaimed architect James Edward Ware, 132 West 73rd Street blends historic character with modern flexibility. Spanning five stories plus a finished basement, the property includes an expansive garden duplex opening to a private outdoor oasis, while the deregulated upper units provide meaningful rental or redevelopment potential. The building’s scale, prewar detail, and versatile layout make it equally suitable for luxury rental repositioning, boutique condominium conversion, or transformation into a grand single-family residence. Currently configured as a legal 8-unit walk-up, the property presents an exceptional opportunity for both investors and end-users. The owner can occupy the spacious garden-level duplex with direct access to a private garden oasis, while renting out the remaining apartments in one of the city’s strongest rental markets, ensuring both high income potential and long-term appreciation. Alternatively, the building can be fully repositioned, converted to condominium ownership, or transformed into a luxury single-family mansion, capitalizing on its historic charm, flexible interior layouts, and advantageous Tax Class 2B designation. Tax Class 2B provides long-term tax stability—an increasingly rare advantage in the NYC townhouse market—while the surrounding neighborhood delivers consistent demand from renters, end-users, and investors alike. Between 2019 and 2022, the property benefited from over $100,000 in capital improvements, including a new roof and skylight, repointed façade, restored cornice, and refurbished windows. Interior highlights include oak strip flooring, a grand original staircase, 10-foot ceilings, and a fully operational wet sprinkler system. As currently configured, 132 West 73rd offers a versatile unit mix: studios (one with a terrace) and one-bedrooms, along with a garden-level 2BR and a top-floor floor-through 2BR. Zoned R8B, the property also benefits from favorable tax treatment and redevelopment flexibility under its existing classification. With a projected pro forma NOI of $369,244, an owner or investor may re-lease units at market rents to enhance cash flow or pursue a high-end conversion, restoring this brownstone to its original grandeur. Situated within the Upper West Side / Central Park West Historic District, the property’s architectural pedigree and historic context are complemented by proximity to Lincoln Center, Central Park, and multiple subway lines (1/2/3/B/C). With vacant delivery, rich architectural detail, and exceptional rental upside, 132 West 73rd Street offers a rare live-plus-income opportunity in one of Manhattan’s most coveted and stable neighborhoods.