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348 E 55th St 6,365 SF Specialty Building Offered at $6,163,695 CAD in New York, NY 10022
Investment Highlights
- Versatile property with zoning supporting residential conversion or institutional use.
- Located in Midtown East near the UN, major offices, and cultural landmarks.
- Adaptive reuse potential for condo, rental, or single-family configurations.
- Approximately 7,000 square feet with an additional 1,970 square feet of air rights.
- Excellent transit access to E/M and 6 subway lines, FDR Drive, and Queensboro Bridge.
- Positioned on a serene, tree-lined block with immediate access to abundant amenities.
Executive Summary
Ariel Property Advisors presents 348 East 55th Street, a versatile conversion opportunity in the heart of Midtown East.
Property Overview
Situated between First and Second Avenues, the 22’-wide, 5-story walk-up totals approx. 7,000 gross sq. ft. Currently used as a rectory, the building features a full-built ground floor with a large community space, small kitchen, and half bath. Floors 2–5 contain a large kitchen, 6.5 bathrooms, and multiple bedrooms and living areas.
Adaptive Use Potential
Delivered vacant and zoned R8B, the property supports a wide range of end uses:
• Owner-User - Ideal for a private residence, government agency, or nonprofit facility
• Condominium Conversion - Limited new condo supply and strong demand create a compelling boutique condominium play
• Rental Conversion - Tight rental inventory and record-high Manhattan rents support a multifamily repositioning
An additional approx. 1,970 sq. ft. of air rights (standard FAR) allows for potential expansion.
Prime Midtown Location
Positioned on a quiet, tree-lined block, the property is steps from the United Nations, major office buildings, and abundant retail, dining, and cultural destinations. Transit access is excellent, with the E/M/6 trains at 53rd Street/Lexington just 3–5 minutes away. The FDR Drive and Queensboro Bridge offer convenient regional connectivity.
348 East 55th Street is a rare opportunity for owner-users, residential converters, and institutional or nonprofit occupants seeking vacant space in a premier Manhattan location
Property Overview
Situated between First and Second Avenues, the 22’-wide, 5-story walk-up totals approx. 7,000 gross sq. ft. Currently used as a rectory, the building features a full-built ground floor with a large community space, small kitchen, and half bath. Floors 2–5 contain a large kitchen, 6.5 bathrooms, and multiple bedrooms and living areas.
Adaptive Use Potential
Delivered vacant and zoned R8B, the property supports a wide range of end uses:
• Owner-User - Ideal for a private residence, government agency, or nonprofit facility
• Condominium Conversion - Limited new condo supply and strong demand create a compelling boutique condominium play
• Rental Conversion - Tight rental inventory and record-high Manhattan rents support a multifamily repositioning
An additional approx. 1,970 sq. ft. of air rights (standard FAR) allows for potential expansion.
Prime Midtown Location
Positioned on a quiet, tree-lined block, the property is steps from the United Nations, major office buildings, and abundant retail, dining, and cultural destinations. Transit access is excellent, with the E/M/6 trains at 53rd Street/Lexington just 3–5 minutes away. The FDR Drive and Queensboro Bridge offer convenient regional connectivity.
348 East 55th Street is a rare opportunity for owner-users, residential converters, and institutional or nonprofit occupants seeking vacant space in a premier Manhattan location
Property Facts
| Price | $6,163,695 CAD | Lot Size | 0.05 AC |
| Price Per SF | $968.37 CAD | Building Size | 6,365 SF |
| Sale Type | Investment | No. Stories | 5 |
| Property Type | Specialty | Year Built | 1930 |
| Property Subtype | Religious Facility | Tenancy | Single |
| Building Class | B | ||
| Zoning | R8B - High density residential district | ||
| Price | $6,163,695 CAD |
| Price Per SF | $968.37 CAD |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Religious Facility |
| Building Class | B |
| Lot Size | 0.05 AC |
| Building Size | 6,365 SF |
| No. Stories | 5 |
| Year Built | 1930 |
| Tenancy | Single |
| Zoning | R8B - High density residential district |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 1347-0032 | Improvements Assessment | $1,039,199 CAD |
| Land Assessment | $663,830 CAD | Total Assessment | $1,703,029 CAD |
Property Taxes
Parcel Number
1347-0032
Land Assessment
$663,830 CAD
Improvements Assessment
$1,039,199 CAD
Total Assessment
$1,703,029 CAD
(212) 544-9500
x23
Contacts
-
Howard Raber, Esq. -
Michael Tortorici -
Shimon Shkury -
James Nestor -
Ariel Property Advisors
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348 E 55th St
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