$17,500,000
Updated 6 years ago
Sold

340 East 58th Street

Sutton Place, Manhattan | Second Ave & First Ave

25 Beds13.4 Baths24,847 Square FeetIncome Property

$17,500,000
floors / apts7 / 38
Lot Size60'x100'4"
ZoneR8B
Building TypeLow-Rise
RE Taxes$263,361
Price Per SF
$704

This property was sold for $12,300,000 on 12/18/19.

Building Amenities

  • Voice Intercom
  • Elevator
  • Laundry Room

Property Description for 340 East 58th Street

Bring all offers! Closing before 11/1!Lovely post war mid-rise rental bldg.for sale in Sutton neighborhood/midtown on a quiet treelined street close to all transportation. This is a 7 story bldg containing 39 units (includes 1 maisonette, a medical or live/work space and a super's apt). 6 apts per floor, 4 very large convertible 2 bdrm's and 2 ample space studios. Many have been updated, some with open kitchens and new finishes. The bldg. itself has recently undergone extensive renovation and will be delivered with a brand new modern elevator all that is left currently undergoing renovation. The majority of the rent stabilized tenants left pay market rate rents. Rent roll (over 1M) and expenses are available upon request.

Building Details for 340 East 58th Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessElevator
Year Built1917
Floors/Apts7/38
Learn More About the Building

Transit and Citi Bike

Subway

Lexington Av/59 St
0.3 miles
Lexington Av/53 St
0.31 miles
59 St
0.32 miles
Lexington Av/63 St
0.39 miles
51 St
0.46 miles

Citi Bike

E 58 St & 1 Ave (NW Corner)
0.05 miles
E 58 St & 1 Ave (NE Corner)
0.07 miles

Contact Agent

Contact Agent

Lauren Schaffer
Douglas Elliman

Sutton Place | Manhattan

Quick Profile

Sutton Place is usually described with favorable words like charming, cozy, great neighborhood, hidden gem, sanctuary, or even small village inside a big city. Those descriptions aren’t from real estate folks either, they’re from the people that live and work there, so it must be true.

The quiet and upscale neighborhood is more like an enclave. It’s bounded by East 53rd Street to the south, East 59th Street to the North, First Avenue to the west, and the East River to the east. Most residents will tell you that everything you’ll ever need is located in the neighborhood. When it’s time to venture out into the cityscape, Sutton Place is within easy reach to Midtown and cultural attractions like the Museum of Modern Art, Rockefeller Center, Central Park and other iconic sites.   

Manhattan has always had notable celebrity residents. But for unknown reasons, Sutton Place has had more than its share of superstars over the years. Some of the more iconic celebs include: Marilyn Monroe and Arthur Miller, Freddie Mercury, Sigourney Weaver, Joan Crawford, Michael Jackson and sister Latoya (Just for one summer).

Sutton Place is named after Effingham B. Sutton, a shipping merchant and entrepreneur. After hitting it big in the California gold rush, Sutton built brownstones along East 57th and East 58th streets with aspirations of making the section more residential. Poverty and crime dashed his dreams. The street gangs that hung out along the dead-ends and cul-de-sacs added to the neighborhood’s decay. Sutton was about to give up on his development endeavors but the Vanderbilt’s and the Morgan’s showed up in the 1920s and transformed the neighborhood. It soon became a wealthy enclave.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 76952TH