- For Sale $5,000,000
- Property Type Multi-Family
- Property Size 3,712 SF
- Units 5
- Lot Size 0.05 Acre
- Year Built 1910
- Date Updated Oct 3, 2022
Marcus & Millichap is pleased to exclusively offer 221 East 48th Street for sale, positioned on a pristine block in Midtown East. Located on North side of 48th Street between Second and Third Avenues, this 5-unit condo redevelopment opportunity is approximately 5,380 square feet. 221 East 48th Street is build 20' x 49' situated on a 20' x 100.42' lot (Block: 1322 and Lot: 11). The property is zone R8B and is Tax Class 2A.
Highlights:
- Pre-war, boutique, luxury condo redevelopement opportunity with approved plans for 8,700 SF
- Currently configured as five, vacant, floor-through units: to be repositioned.
- Tax increases capped at 8% year over year or 30% over any given 5 year period
- All units possess outdoor space/terraces overlooking Turtle Bay Garden
- Located on Diplomats Row within 5 blocks of the E, M, and 6 subway lines
Want more info on this listing?
Reach out to the broker for more info on lease terms and amenities
Attachments
False
Contacts
Joe Koicim
Marcus Millichap || New York Multifamily
Logan Markley
Marcus Millichap || New York Multifamily
(212) 430-5194
Location
Getting Around
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Walk Score ®
Walker's Paradise (100) -
Transit Score ®
Rider's Paradise (100) -
Bike Score ®
Very Bikeable (82)
- City New York, NY
- Neighborhood Turtle Bay
- Zip Code 10017
- Market Manhattan
Points of Interest
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East 50th Street & Lexington Avenue at Northwest Corner
0.19 miles
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East 51st Street & Lexington Avenue at Southeast Corner
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51st Street
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East 51st Street & Lexington Avenue at Southwest Corner
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East 53rd Street & 3rd Avenue at Southeast Corner
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East 51st Street & Lexington Avenue at Northwest Corner
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Grand Central Terminal
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East 53rd Street & 3rd Avenue at Southwest Corner
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East 53rd Street & 3rd Avenue at Northeast Corner
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East 53rd Street & 3rd Avenue at Northwest Corner
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Tesla Supercharger
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ChargePoint
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ChargePoint
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Bus Charging Station
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ChargePoint
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ChargePoint
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ChargePoint
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ChargePoint
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Citgo
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ChargePoint
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20th Century Garage
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Quik Park Garage
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intlFcstone 10022 LOCi Multi
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Central Parking
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icon 24hr Parking
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Alpha Garage
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Icon Parking
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Hippodrome Parking
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Icon
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Smith & Wollensky
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La Vera Pizza
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Ashton's Alley Sport Bar
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Lasagna
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Barnes Bistro
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Dos Caminos
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Abitino
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Spice Symphony
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Morning Star Cafe
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Sparks Steak House
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Public School 18
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United Nations School
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Lyceum Kennedy International School
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Lyceum Kennedy French American School
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Public School 59
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High School of Art and Design
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Laboratory Institute of Merchandising
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SUNY State College of Optometry
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International Center of Photography
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The River School
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Gymboree
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Everbrook Academy
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Wee Ones Club
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St Vartan Play Group Preschool
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NY Kids Club
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Alpha Bet Preschool of Murray Hill
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Push My Swing
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NY Kids Club
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My Treehouse
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The Accorn School
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