Updated 4 years ago
Off Market
221 East 48th Street
Turtle Bay, Manhattan | Third Ave & Second Ave
5,380 Square FeetMulti-Family
$4,250,000
floors / apts4 / 5
Lot Size20'x100'4"
Built Size20' wide
ZoneR8B
Building TypeTownhouse
RE Taxes$96,185
Price Per SF
$790
Outdoor space and views
- Garden
Building Amenities
- Voice Intercom
Property Description for 221 East 48th Street
North side of East 48th Street adjacent Turtle Bay Garden.
Cushman & Wakefield has been retained exclusively to arrange for the sale of 221 East 48th Street, a vacant five-story multifamily building in the heart of Midtown East, adjacent Turtle Bay Gardens. The property presents the incredible opportunity for an investor, developer or user to acquire and reposition a vacant value-add building with significant upside and conversion potential.
The property is currently configured as professional space on the ground floor and apartment units above. The property is 20’-wide and features a private rear garden.
On the north side of East 48th Street between Second and Third Avenues, the location benefits from superior access to public transportation just blocks from Grand Central. Nearby attractions include Turtle Bay, Chrysler Building, the United Nations Headquarters, and countless retail and restaurants.
Listing History for 221 East 48th Street
Now
03/21/2022
POM by John F. Ciraulo
Cushman & Wakefield
2022
Building Details for 221 East 48th Street
OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts4/5
Transit and Citi Bike
Subway
51 St
0.19 miles
Lexington Av/53 St
0.24 miles
Grand Central-42 St
0.34 miles
5 Av/53 St
0.45 miles
Railroad
Grand CentralLong Island Rail Road
0.24 miles
Grand CentralMetro-North Railroad
0.33 miles
Citi Bike
E 48 St & 3 Ave
0.05 miles
E 47 St & 2 Ave
0.09 miles
Contact Agents
Contact Agents
John Ciraulo
Cushman & Wakefield
Craig Waggner
Cushman & Wakefield
Will Conrad
Cushman & Wakefield
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: 78982TH
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