1148 5th Ave #Phf, New York, NY 10128

A RARE FIFTH AVENUE PENTHOUSE 775 square feet of interior living space with 895 square feet of outdoor space for a combination of approximately 1,600 square feet of private space. There are larger apartments on Fifth Avenue. There aren't any others with this combination of large terrace, park view, low maintenance, and entry price. Perched high above Fifth Avenue, this extraordinary penthouse offers sweeping views over Central Park and one of the largest wraparound terraces on the avenue — an exceptional outdoor space for entertaining or quiet enjoyment. The terrace has already undergone major reconstruction -- new waterproofing, drainage, railings, pavers and structural work -- and is in excellent condition, substantially reducing the expense that buyers often associate with large outdoor spaces in New York co-ops. Designed by renowned architect J. E. R. Carpenter, this distinguished white-glove, full-service prewar cooperative presents an opportunity to create a bespoke residence in one of Manhattan's most coveted locations. Create a home tailored entirely to your vision. Bring your Architect or Contractor. The apartment requires a complete renovation, including windows, HVAC, plumbing, electrical, kitchen and bath. A proposed floor plan is available for inspiration. Renovation is subject to cooperative board, DOB, and LPC review and approval. Bathed with natural light throughout the day, the residence enjoys western and northern exposures and features a dramatic oversized skylight that enhances the airy, loft-like feel. The impeccably maintained building has a full-time doorman, live-in superintendent, bike storage, and in-building laundry. An in-unit washer and dryer is permitted with approval. Included is a 7' x 18' lockable basement storage room that transfers with the apartment. Low monthly maintenance of $2,748.78 includes property taxes and maintenance charges. It is 44% tax-deductible. Building policies prefer the apartment to be the owner's primary residence. Pied-à-terre ownership may be allowed; subleasing is not permitted. Up to 50% financing is allowed, and purchasers should have very strong financial qualifications. A 2% transfer fee applies, payable by buyer. Certain types of trusts are allowed to hold shares. Pets are welcome.