6-story elevator building between First & Second Avenues
25’ wide and approximately 13,000 gross square feet
25 units configured as a mix of 11 studios and 14 one bedroom apartments
21 free market and 4 rent stabilized units
Free market units are achieving an average rent per square foot of $75
Rent stabilized units are renting at a 41% discount to prevailing market rents within the building
Laundry in the basement
Private outdoor space for one of the units and potential for finished roof deck
Quiet, tree lined street in Sutton Place, a highly coveted residential enclave in Midtown East
Just a couple blocks from the midtown office district hub
Easily accessible from all areas of the city due to proximity to the 6, E & M subway lines.
Incoming 55th Street station on the Second Avenue T line will be on the sale block, undoubtedly enhancing retail and residential values
Located just off burgeoning strip of retail on Second Avenue
342 East 55th Street presents a tremendous opportunity to acquire a high-quality, stable residential property with minimal maintenance requirements in one of Manhattan’s most coveted and convenient residential neighborhoods.