New York City Insights

On the market: a wine cellar with luxury bedrooms attached

But seriously, that wine cellar
By Staff  |  August 12, 2020 11:55 PM

360 Furman St. #1216 via Sotheby's International

There's a moment you objectively recognize that you're a delightfully jaded New Yorker when you're reading a list of a luxury condo's amenities – deeded parking? Yawn. Screening room? Yawn yawn. Views of Manhattan skyline? I'm asleep. – and then they hit you with "a temperature-controlled wine cellar that notably holds more than 3,500 bottles." And that incredible photo.

That wine cellar is the size of most people's first apartment in the city. And it looks nicer than most specialty wine stores. In vino veritas, indeed.

Of course, there seem to be some caveats here: 360 Furman St. #1216 has been on the market over 600 days (mind you, coronavirus only accounts for 150 of those). And the J-51 tax abatement expires in 2023, so the $2,000/month taxes may rise significantly – and that's on top of the $10,000/month common charge. There's already been a $1 million price chop, but given the days on market, it seems there's still a mismatch of pricing and demand.