203-914-5372
315 E 58th St, New York, NY for Sale
Apartments - FOR SALE
1/16
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315 E 58th St
New York, NY 10022
Midtown East


HIGHLIGHTS

  • All ten apartments are free market with no rent-regulated exposure — an increasingly scarce profile in Manhattan multifamily.
  • Approximately $1.3 million was invested in a substantial rehabilitation: new kitchens and baths, ductless HVAC, in-unit laundry and rebuilt systems
  • Within walking distance of the Midtown office core and the Plaza District, and minutes from Lexington Avenue–59th Street & Bloomingdale's.
  • A Dish Wireless rooftop lease contributes $52,451 annually, running through June 2028.
  • A 6.01% capitalization rate at the asking price, on a 27.0% expense ratio and $660,851 of total gross revenue.

OVERVIEW

Cushman & Wakefield has been exclusively retained to offer for sale the 100% fee-simple interest in 315 East 58th Street (the "Property"), a fully renovated multifamily asset located in the heart of Midtown East, Manhattan. Current ownership completed a comprehensive substantial rehabilitation of the Property pre-2024, including major upgrades to the building's plumbing, electrical, life-safety, façade and common-area systems, as well as complete gut renovations of the apartments. Residences feature Bosch washers and dryers, stainless steel kitchen appliances, quartz countertops, and red and white oak finishes. Through the Substantial Rehabilitation process, the property is 100% free-market, offering investors a turnkey residential asset with limited near-term capital requirements. The Property benefits from strong in-place residential income, with units achieving average rents of over $5,000 per month and $87 per square foot. In addition, an existing rooftop antenna lease provides supplemental income at $4,370 per month. 315 East 58th Street is surrounded by some of Midtown East's most desirable amenities, including Trader Joe's on East 59th Street, Whole Foods on East 57th Street, the incoming Chelsea Piers on East 57th Street, Equinox on 2nd Avenue, and Bloomingdale's at 59th Street. Midtown East's restaurant corridor and the Midtown office core are also within a short walk, while the nearby 4/5/6/N/R/W/Q/M subway lines provide convenient connectivity throughout Manhattan.

FOR SALE DETAILS

PRICE

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# OF UNITS

10

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1940

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,511 SF

ZONING

C1-9/TA

APN/PARCEL ID

1351-0007

ASK ABOUT THIS PROPERTY

James GalefCushman & WakefieldMore Info
203-914-5372

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James GalefCushman & WakefieldMore Info
203-914-5372

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.