352 E 55th St, New York, NY 10022

Studio-- baths4,640 sqft

Sold: $4,350,000
Sold on 10/29/13
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My Notes

On a charming and tranquil treelined street in Sutton Place, and just aroundthe corner from First Avenue, your opportunity awaits you. This rare propertycan work in a number of different ways, including as a "1031 Exchange".Because of it's combination of commercial and residential zonning, and withover 2,000sf of potential commercial space on the lower duplex, it's a rarefind for the savy business entrepreneur who wants to create his new spa,medical offices, restaurant, antique shop, fashion boutique, cleaner's orcyber cafe, while enjoying the income from the remaining six rentalapartments. The flexible commercial zonning and the existing separate accessto the lower floor would allow for two separate businesses to co-existcommercially, if so desired.But most importantly, this townhouse allows for over 20,000sf of buildablespace, and it is an ideal opportunity for an experienced developer with avision to transform it to into a modern luxury rental hybrid that will yieldmaximum return.Of course, this could also work for a Live-in investor. But as Sutton Place isa very desirable residential enclave, one might be inclined to reconvert thisproperty into a very comfortable single family residence, and make the most ofthe private garden and the spectacular rooftop city views. Whatever yourobjective, please come by and and take a look and we will gladly walk youthrough the different possibilities.This property could be delivered completely vacant. Price would varyaccordingly.Currently a Four story plus basement walk-up mixed-use building.Lower commercial duplex is currently owner occupied and will be deliveredvacant 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 potentialdevelopment opportunity * Spectacular rooftop views. Private garden. * Can be delivered vacant## PROPERTY DETAILS--------------------------------------------------------------------Price: $4,500,000Ownership: Mixed UseBlock / Lot 1347 / 130Lot Size [W x D]20'x100'Built Size [W x D] 20'x58'Floors: 4 + basement## Building Features--------------------------------------------------------------------GardenRoof DeckPostwar  More Less 


  • Apartment
  • Built in 1950
  • Views: 1,029 all time views
  • Last sold: Oct 2013 for $4,350,000
  • Last sale price/sqft: $938


  • Deck
  • Garden
  • Hot Tub/Spa
  • Patio


    • Stories: 4
    • Unit count: 10


    • Floor size: 4,640 sqft
    • Lot depth: 100
    • Lot width: 20
    • Parcel #: 13470130
    • Zillow Home ID: 31532340

    Zestimate Details

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    -$443 Last 30 days
    Zestimate range

    Popularity on Zillow

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    1,029 all-time views
    of this home (chart)
    44 forecasted views of this home
    in the first 7 days after listing for sale
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    Comparable Homes

    Homes like this sold for $450K-6.8M.




    Market guide

    Zillow predicts New York home values will increase 2% next year, compared to a 0.8% rise for New York Metro as a whole.

    Foreclosures will be a factor impacting home values in the next several years. In New York, the number of foreclosures waiting to be sold is 55.6% less than in New York Metro, and 92.4% less than the national average. This lower local number could help New York home values rise more quickly than other regions in New York Metro.

    Learn more about forecast calculations or New York home values.
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