On a charming and tranquil treelined street in Sutton Place, and just around the corner from First Avenue, your opportunity awaits you. This rare property can work in a number of different ways, including as a "1031 Exchange".
Because of it's combination of commercial and residential zonning, and with over 2,000sf of potential commercial space on the lower duplex, it's a rare find for the savy business entrepreneur who wants to create his new spa, medical offices, restaurant, antique shop, fashion boutique, cleaner's or cyber cafe, while enjoying the income from the remaining six rental apartments. The flexible commercial zonning and the existing separate access to the lower floor would allow for two separate businesses to co-exist commercially, if so desired.
But most importantly, this townhouse allows for over 20,000sf of buildable space, and it is an ideal opportunity for an experienced developer with a vision to transform it to into a modern luxury rental hybrid that will yield maximum return.
Of course, this could also work for a Live-in investor. But as Sutton Place is a very desirable residential enclave, one might be inclined to reconvert this property into a very comfortable single family residence, and make the most of the private garden and the spectacular rooftop city views. Whatever your objective, please come by and and take a look and we will gladly walk you through the different possibilities.
This property could be delivered completely vacant. Price would vary accordingly.
Currently a Four story plus basement walk-up mixed-use building.
Lower commercial duplex is currently owner occupied and will be delivered vacant at closing and the 4 FM apartments can be upon request.
- Flexible commercial and residential zoning in prime Sutton Place location
- RETAIL : Unit 1A; 1,200 square foot commercial duplex.
- Six apartments with two RS tenants approaching market rents.
- Excellent end-user, restaurant, live/invest, 1031 exchange or potential development opportunity
- Spectacular rooftop views. Private garden.
- Can be delivered vacant
- Price: $4,500,000
- Ownership: Mixed Use
- Block / Lot 1347 / 130
- Lot Size [W x D]20'x100'
- Built Size [W x D] 20'x58'
- Floors: 4 + basement
- Roof Deck