Thursday, July 24, 2014

QUESTION: WHAT'S UP WITH 1992 MADISON?

The handsome and rather large corner brownstone at 1992 Madison Avenue has been vacant for at least 5 years now and we were surprised to see the townhouse still in the same condition when walking by this past week.  Records show that the 6,420 square-foot home sold back in 2005 for $887.5K and the interior apparently was pretty intact back then.   Permits from 2006 through 2008 show that a 4-unit building was being planned with central air as part of the amenities and rumors had it that it would all be condos.  From then on, everything stopped during the recession and squatters have apparently damaged the interior by setting a fire a couple of years back.  This location is one of those rare, intact brownstone blocks in Manhattan and should not be an issue with interested developers nowadays so why has this property not changed hands?

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