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Executive Summary

• Rare Opportunity & Long Term Ownership. The property has been owned and operated by the same family for over70 years, presenting a rare opportunity to acquire a 4-unit mixed-use building in the heart of Midtown East.

• Restaurant/Retail End User Potential. The current restaurant lease expires in November 2027 with no option to extend, providing unrivaled end-user potential to own and operate a restaurant, or repurpose the retail into other use. The space features 2,000 square feet on the ground floor, a full vented kitchen, a liquor license, and a full basement formeal prep and additional storage.

• 100% Free Market – Value Add & Retail Repositioning. 232 East 58th Street represents a true value-add & retailrepositioning opportunity. The asset consists of four units: a ±2,000 SF ground-floor retail space currently leasedsignificantly below market, a full-floor boutique office, and two free-market residential units – both of which can be converted to 2BR layouts to increase cash flow. Statutorily exempt from rent stabilization, the building is 100% free-market, providing for immediate upside. Additionally, floors 2 & 3 will be delivered vacant upon sale, providing for immediate business plan execution upon acquisition.

• Multiple Investment Strategies. 232 East 58th Street features multiple investment strategies, including, but notlimited to: converting the office floor to residential to capture historically strong rental demand, transitioning the assetinto protected Tax Class 2A status, repositioning the under-market retail as the current term nears expiration, potentialend-user occupancy of the restaurant, and executing a value-add business plan through cosmetic renovations toincrease cash flow significantly.

• Unrivaled Location. Positioned just off the corner of East 58th Street and 2nd Avenue, 232 East 58th Street sits on a quiet, tree-lined block at the nexus of Midtown East and the Upper East Side—two of Manhattan’s most affluent and high-demand neighborhoods. The property is surrounded by high-end national retailers, luxury condo towers, andongoing residential development, forming a dense live-work-play ecosystem. With direct access to the 4/5/6, N/R/W, F, and Q subway lines, the Queensboro Bridge, and major bus routes, the location offers unrivaled connectivity to the entire city. Resultantly, high-profile renters and retailers are eager to pay a premium for all this area has to offer.

Property Facts

Price $5,444,945 CAD
Price Per Unit $1,361,236 CAD
Sale Type Investment
No. Units 4
Property Type Multifamily
Property Subtype Apartment
Building Class C
Lot Size 0.05 AC
Building Size 4,760 SF
No. Stories 4
Year Built 1901
Zoning R8 - R8 Zoning is considered “high density” residential zoning.
Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (80)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Property Taxes

Property Taxes

Parcel Number
1331-0033
Land Assessment
$368,776 CAD
Improvements Assessment
$534,024 CAD
Total Assessment
$902,801 CAD
  • Listing ID: 39698134

  • Date on Market: 2026-03-08

  • Last Updated:

  • Address: 232 E 58th St, New York, NY 10022

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