Welcome to 542 Cathedral Parkway, a hidden gem in the Morningside Heights Historic District. This modern, all-electric building, designed by G. Phillip Smith & Douglas Thompson, stands out on the significant Upper West Side block with its striking design.
This 25-foot wide, mixed-use building offers three spacious free-market apartments and a variable space in the finished lower level. With tenants covering their own heat and electric costs, this property is low-maintenance, making it an ideal opportunity for both investors and end-users.
Originally built on a vacant lot in 1988 and expanded to four floors in 1991, the building is reportedly framed for the addition of two more floors with provisions for an elevator. What sets this property apart is its potential for expansion. Set in a Landmarked District with a Non-Contributing label, there are approximately 6,874 square feet of unused air rights, allowing one to create add one or two stories, or create an 11 story new building. This makes it a prime investment for someone looking to increase its value, whether for personal use, a community facility, or possibly a medical office.
Convenience is key, and 542 Cathedral Parkway delivers. Just a block from Riverside Park and steps from the 110th Street subway station, you're minutes away from everything the city has to offer. Enjoy quick access to Riverside Park, Morningside Park, Columbia University, Mount Sinai St. Luke's Hospital, and the northern corner of Central Park. Columbia University is just four blocks away, making this location perfect for students, faculty, or anyone who wants to be close to the action.
Each apartment in the building is self-sufficient, featuring its own hot water heater, washer-dryer, and electric range. Heat is provided by baseboard heating and each apartment is equipped with wall-mounted air conditioners. Plus, the finished lower level offers an additional 800 square feet of rentable space, adding even more income potential.
Whether you're an investor looking to maximize the building's growth potential, an end-user seeking a versatile living space, or someone who values convenience and accessibility, 542 Cathedral Parkway is the perfect place to call home.