Here is your chance to create a truly unique and wonderful penthouse space at the Nottingham, a Stanford White building built at the turn of the last century.  Located in the hot neighborhood of North Madison Square Park on the roof of a nine story building, this unit offers terrific open city views and needs complete renovation.  Currently structured as a one bedroom, one bath unit, the owner has already done legwork to determine the possibilities of expansion with the City.  The pre-determination allowed for expansion of the penthouse to cover up to 30% of the roof area, which translates into 749 square feet for a total gross area of 1,358.  This would expand the penthouse to a two or three bedroom, two bath unit with an open living/kitchen area.  The additional 749 square feet planned was to be an open glass box and could be built as two pre-fabricated modular boxes in order to keep building costs to a minimum.

Ideally situated between Park Avenue South and Madison Avenue, the building allows pets, pied a terres, and has a flexible subletting policy.  There is an additional $330.17 monthly capital assessment through December 2013.  Close to midtown businesses, the fabulous restaurants and shopping of the Flatiron, Chelsea, Gramercy Park, and Madison Square Park is just a stroll away -- if you don't want to take advantage of your rooftop space.