417 East 60th Street is a six-story, pre-war cooperative building located in the Midtown East/Upper East Side area of New York City. The building features 25 free-market cooperative apartments, with a total floor area of approximately 15,000 gross square feet. Each unit is designed with charming pre-war details, including exposed brick walls and large windows that offer views of the East River and the 59th Street Bridge. The property is currently utilized as a rental building, but each unit can be sold individually, providing flexibility for potential buyers.
The building is equipped with modern amenities such as a virtual doorman, gym, roof deck, and laundry facilities. Apartments are fully renovated and furnished, featuring central AC/heat, wireless internet, and in-unit dishwashers. Notably, the building has a minimum stay requirement of 30 days for rentals, making it suitable for both short-term and long-term residents.
With significant remaining FAR, the property presents an excellent opportunity for conversion into a boutique hotel or other commercial uses, given its proximity to major institutions and tourist destinations. The area is expected to see increased demand for lodging due to upcoming developments, including a new subway station and a science park on Randall's Island.
While the building does not have a Certificate of Occupancy due to its age, it is zoned for both residential and commercial use, allowing for various redevelopment possibilities. The cooperative structure allows for individual unit sales, making it a unique investment opportunity in a prime location.