Updated 8 years ago
Sold
246 East 53rd Street
Turtle Bay, Manhattan | Third Ave & Second Ave
23 Beds12,915 Square FeetRental Property
$7,700,000
floors / apts6 / 21
Lot Size33'x100'
ZoneR8B
Building TypeLow-Rise
Price Per SF
$596
Building Amenities
- Voice Intercom
Property Description for 246 East 53rd Street
246 East 53rd Street is a six-story mixed use building located in the heart of Midtown East, just off of Second Avenue. The property consists of 2 retail stores and 21 residential units. The storefronts are currently occupied by a framing store and a small café, which have leases in place until 2015 and 2017 respectively. The residential portion consists of twenty (20) 1BR units and one (1) 3BR unit. Of these units, 17 are fair market, 2 are rent controlled, and 2 are rent stabilized. At present, the average rent is approximately 15% below market, allowing for substantial upside potential. This property offers a prime opportunity for an investor to add value to a building in a desirable Manhattan neighborhood. Please contact us for more information.
Listing History for 246 East 53rd Street
Now
10/18/2012
$7,700,000
Sold and Closed by Robert Knakal
Cushman & Wakefield
07/31/2012
POM by Robert Knakal
Cushman & Wakefield
Building Details for 246 East 53rd Street
OwnershipRental Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1900
Floors/Apts6/21
Transit and Citi Bike
Subway
Lexington Av/53 St
0.04 miles
51 St
0.18 miles
59 St
0.37 miles
Lexington Av/59 St
0.39 miles
5 Av/53 St
0.41 miles
Railroad
Grand CentralLong Island Rail Road
0.39 miles
Citi Bike
E 53 St & 3 Ave
0.06 miles
E 51 St & 2 Ave
0.13 miles
Turtle Bay | Manhattan
Quick Profile
Turtle Bay is best known for hosting the world’s dignitaries at United Nations once a year as the world institution sits on the eastern edge of the neighborhood along the East River.
But this midtown location offers a lot more, a bustling neighborhood teeming with high-rise apartment buildings and an easy walk to the Midtown business district.
Over the past two decades, developers have assembled almost every corner development site along Second Avenue and have built straight up. Not much left to assemble.
Some of the more glamorous, and of course most expensive, addresses are in close proximity to the United Nations. Trump World Tower, which caused a big stir with area residents, in particular, Walter Cronkite, when it was built sits just north of the United Nations Grounds.
In contrast to the proliferation of the residential highrise, Turtle Bay does have some lovely tree-lined streets between the avenues. In particular, Turtle Bay Gardens, which fronts both 48th Street and 49th Street between Third and Second Avenue has always been a haven for the rich and famous.
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: 44084TH
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