204 58Th St New York, NY 10022

This exceptional mixed-use property at 204 East 58th Street, New York, NY 10022, offers a unique investment opportunity. Situated in the vibrant Decoration & Design District of Midtown East, this four-story building boasts 9,839 square feet and a prominent 40-foot frontage on 58th Street between Second and Third Avenues. The property comprises one vacant commercial duplex unit on the second floor, and two 5-bedroom, 3-bathroom residential duplex units on the third and fourth floors, each featuring private rear terraces and currently under a master lease. The commercial space presents immediate opportunities for renovation and re-tenanting, or owner-occupancy. The building benefits from an assumable financing option at a 3.2% interest rate until March 1, 2030, providing significant financial advantages. With approximately 11,651 square feet of available air rights, this property offers substantial potential for expansion and redevelopment. Built in 1909, the building sits on a 4,016 square foot lot (APN 1331/44) and is zoned R8B, C5-2. This well-maintained asset, with a history of long-term ownership, presents a compelling investment prospect in a highly desirable New York City location. The property's strong location, existing income stream, and significant redevelopment potential make it an attractive opportunity for discerning investors.