Renovated Two-Unit
355 East 51st Street Manhattan, NY 10022
For Sale
$1,148,000
Renovated two-unit townhouse with private parking, a separate basement entrance, and split-unit A/C systems.
Property Size2,200 SF
Price / SF$521.82
Days on Market74
Property Features for 355 East 51st Street
General Information
- Standard status
- Active
- Size
- 2,200 SF
- Property subtype
- Multi Family Townhouse
Building Details
- Year Built
- 1910
Listing Agency:
Revived Residential
(718) 530-5109
Listed By:
Nathan Pinsky · License #10401272155
(718) 530-5109
Source:
Compass
Added: May 13
Changed: Jul 23
Last Checked: Jul 25 at 10:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Revived Residential
Investment Insights
Based on property information with market context.
This masterfully renovated two-unit townhouse features a brick exterior and a distinctive layout: a 4-bedroom/2-bath unit over a 3-bedroom/2-bath garden duplex. A finished basement adds flexible space and includes a separate entrance, and the property also offers private parking. Interior updates include select wide oak flooring, recessed lighting, new electrical and plumbing, and energy-efficient split-unit A/C systems.
Located at 355 East 51st Street in Manhattan, the home sits just off Linden Blvd and Utica Avenue, providing convenient access to major transportation, shopping, and local amenities.
The property is presented as turn-key and ready for occupancy, with a configuration designed to support rental income alongside a spacious liveable arrangement.
Located at 355 East 51st Street in Manhattan, the home sits just off Linden Blvd and Utica Avenue, providing convenient access to major transportation, shopping, and local amenities.
The property is presented as turn-key and ready for occupancy, with a configuration designed to support rental income alongside a spacious liveable arrangement.
Key Highlights
- Renovated two‑unit brick townhouse with a 4‑bedroom/2‑bath unit over a 3‑bedroom/2‑bath garden duplex
- Finished basement includes a separate entrance and private parking for added convenience
- Energy‑efficient ductless split‑unit A/C systems plus recessed lighting
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $112.2k | $51.00 |
| − Vacancy | −$5.8k | −$2.65 |
| EGI | $106.4k | $48.35 |
| − OpEx | −$31.9k | −$14.50 |
| NOI | $74.5k | $33.84 |
2,200 SF · lease $51.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$930.7K – $1.24M
NOI $74,456 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$983.3K
$860.4K – $1.15M
NOI $68,832 @ 7.0% cap · market cap 6.00%
Theoretical Best
Specialty Retail
$5.48M
$4.79M – $6.39M
NOI $383,328 @ 7.0% cap · market cap 33.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Sadkin Restaurant Law ...
Law Firm
FAQs
What type of property is this?
Duplex - Renovated two-unit townhouse with private parking, a separate basement entrance, and split-unit A/C systems.
Where is this duplex located?
The property is located at 355 East 51st Street Manhattan, NY.
What is the asking price?
The asking price for this property is $1,148,000.
What are key features of this property?
This property features: Renovated two‑unit brick townhouse with a 4‑bedroom/2‑bath unit over a 3‑bedroom/2‑bath garden duplex; Finished basement includes a separate entrance and private parking for added convenience; Energy‑efficient ductless split‑unit A/C systems plus recessed lighting
