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    19 55Th St New York, NY 10019

    Sponsored
    For Sale
    $37,000,000

    Luxury Condo Conversion Potential

    Property size:
    34,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 10-story, 34,000 square foot mixed-use building at 19 W 55th St, New York, NY 10019, presents a unique value-add opportunity. Currently 9% occupied, with three rent-stabilized tenants, the property is primed for redevelopment. Architectural plans by Clive Longstein envision a classically renovated building with three additional stories, featuring a striking white limestone facade, double-height windows, and multiple outdoor terraces. The existing structure, a red brick building with black-painted ground levels, sits on a 5,000 square foot lot and boasts 5,000 square feet of air rights. The permitted C1/6 zoning allows for diverse uses, including a luxury condo conversion, as detailed in the included plans. A long-term lease offer from a renowned restaurateur for $42,000 per month is also available. This prime Manhattan location, adjacent to the Peninsula Hotel and near Central Park and MoMA, offers unparalleled convenience and prestige. The building's proximity to multiple subway lines ensures excellent transportation access throughout the city. The asking price is $37,000,000, representing a price per square foot of $1,088.24. Built in 1920, this distressed property offers significant upside potential for the discerning investor. The property includes 28 units.

    Property Features for 19 55Th St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    34,000 SF

    Building Details

    Year Built
    1920
    Buildings
    1
    Stories
    10
    Units
    28

    HighLights

    • $37,000,000 asking price for a distressed, value‑add mixed‑use property.
    • 34,000 square foot, 10‑story building with 28 units, 9% occupancy, located at 19 W 55th St, New York, NY 10019.
    • Prime Manhattan location adjacent to the Peninsula Hotel; 5,000 square feet of available air rights.
    • Mostly vacant with three rent‑stabilized tenants; Classically renovated plans by Clive Longstein, adding three stories with double‑height windows and multiple terraces.
    • Potential for luxury condo conversion or other uses; long‑term lease offer available at $42,000/month.
    Property Profile Location Intelligence

    Current Use by Public Records

    Credit Repair Credit Counseling Service Kathi J. Paton ... Insurance Agency

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Nail Salon Dental Office Food Market Law Firm Clothing Store Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9759156
    Latitude
    40.7622951

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    FAQs

    What type of property is this?
    Mixed-use property - Luxury Condo Conversion Potential
    Where is this mixed-use property located?
    The property is located at 19 55Th St New York, NY.
    What is the asking price?
    The asking price for this property is $37,000,000.
    What are key features of this property?
    This property features: $37,000,000 asking price for a distressed, value-add mixed-use property.; 34,000 square foot, 10-story building with 28 units, 9% occupancy, located at 19 W 55th St, New York, NY 10019.; Prime Manhattan location adjacent to the Peninsula Hotel; 5,000 square feet of available air rights.
    (646) 479-5186
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    19 55Th St New York, NY 10019
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    19 55Th St New York, NY 10019
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