NEW YORK –– New York Residence is listing a townhouse on 346 East 51st Street for $5.9 million. The townhouse is located on a charming tree-lined block in one of the most desirable neighborhoods in Manhattan, Midtown East.
The prestigious townhouse represents an ideal opportunity to live in a spectacular duplex apartment and collect rental income from a number of rental units above.
“We are excited to be able to bring this unique property to the market,” says Thomas Guss, President of New York Residence. “It is an extremely attractive investment opportunity for a buyer who values privacy and, at the same time, wants to live in a very central part of Manhattan.”
The largest unit, a duplex previously used by an Ambassador to the United Nations, contains 3 bedrooms and 2 and a half bathrooms. A landscaped garden, private elevator, chef’s kitchen, wood burning fireplace, and central air conditioning are outstanding features of this residence. A separate studio with kitchenette and private bathroom can be used as a home office.
Above the large duplex home, there are six one-bedroom apartments, half of which are free-market units which even can be rented short term. An owner of 346 East 51st Street will never have to pay monthly costs – the tenants will pay for the upkeep of the entire property. “Living rent-free for the rest of your life is a very attractive proposition,” notes Andreea Miller, real estate agent at New York Residence.
This property is listed at $5,900,000 for approximately 6,400 square feet – a very attractive price at a time where a single 2-bedroom apartment in a newly constructed condominium tower nearby can easily cost more than this entire townhouse.
Townhouses in central parts of Manhattan do not come on the market often – and when they do, prices are usually in the tens of millions, which makes this property a truly rare find.