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122 E 38th St 6,750 SF 100% Leased Office Building New York, NY 10016 $7,250,000 ($1,074.07/SF)
Investment Highlights
- Fully vacant 6,480 SF Neo-Federal townhouse with six floors and roof terrace.
- Historic architectural details including fireplaces, soaring ceilings, and custom millwork complemented by modern systems.
- Flexible Certificate of Occupancy allows a variety of uses, including office, institutional, embassy, medical, or luxury single-family conversion.
- Prime Murray Hill location near Grand Central Terminal, NYU Langone Medical Center, and the UN Headquarters.
- Expansive roof garden plus two outdoor decks offering dramatic cityscape views.
Executive Summary
Cushman & Wakefield and Corcoran have been exclusively retained to offer for sale 122 East 38th Street (the “Property”), an extraordinary 6,480± SF live-work commercial townhouse located on one of Murray Hill’s premier blocks between Park and Lexington Avenues, just steps from Grand Central Terminal.
This distinguished six-story plus cellar and roof terrace Neo-Federal townhouse combines historic elegance with modern refinement. Built in the early 20th century, the property features a stately brick façade with limestone detailing and balanced architectural proportions. Inside, soaring ceiling heights, intricate moldings, multiple fireplaces, and a dramatic spiral staircase create a sense of timeless sophistication, while updated, eco-conscious systems provide contemporary comfort and efficiency.
Situated on a tree-lined block just off Park Avenue, the Property offers a rare blend of privacy, prestige, and convenience, suitable for live-work users, governments, nonprofits, medical, institutional ownership, office use, or single-family conversion.
122 East 38th Street also boasts a storied history. Notable former residents include Charles Isham, historian and head librarian of the New York Historical Society, and his wife Mary Todd Lincoln Isham, granddaughter of President Abraham Lincoln. In 1913, the couple commissioned the architecture firm Walker & Gillette to add the elegant mansard fourth floor, further enhancing the townhouse’s architectural prominence
This distinguished six-story plus cellar and roof terrace Neo-Federal townhouse combines historic elegance with modern refinement. Built in the early 20th century, the property features a stately brick façade with limestone detailing and balanced architectural proportions. Inside, soaring ceiling heights, intricate moldings, multiple fireplaces, and a dramatic spiral staircase create a sense of timeless sophistication, while updated, eco-conscious systems provide contemporary comfort and efficiency.
Situated on a tree-lined block just off Park Avenue, the Property offers a rare blend of privacy, prestige, and convenience, suitable for live-work users, governments, nonprofits, medical, institutional ownership, office use, or single-family conversion.
122 East 38th Street also boasts a storied history. Notable former residents include Charles Isham, historian and head librarian of the New York Historical Society, and his wife Mary Todd Lincoln Isham, granddaughter of President Abraham Lincoln. In 1913, the couple commissioned the architecture firm Walker & Gillette to add the elegant mansard fourth floor, further enhancing the townhouse’s architectural prominence
Property Facts
Sale Type
Investment or Owner User
Sale Condition
High Vacancy Property
Property Type
Building Size
6,750 SF
Building Class
C
Year Built
1915
Price
$7,250,000
Price Per SF
$1,074.07
Percent Leased
100%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
1,125 SF
Building FAR
4.92
Lot Size
0.03 AC
Zoning
R8B, New York - High density residential district
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 0893-0078 | Improvements Assessment | $313,110 |
| Land Assessment | $398,250 | Total Assessment | $711,360 |
Property Taxes
Parcel Number
0893-0078
Land Assessment
$398,250
Improvements Assessment
$313,110
Total Assessment
$711,360
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